Artificial intelligence has been a trending topic for decades now but the implementation of artificial intelligence chatbots such as ChatGPT from OpenAI have taken the world by storm recently.
What’s Going on with AI Chatbots?
The buzz surrounding artificial intelligence has reached the point where every earnings report from corporations seems to include AI at some point during the call. That is only doubly so when firms have to report disappointing results and look to offset the bad news with hopes of AI somehow helping the company grow going forward.
Many of the big tech companies such as Google have talked up their AI development in earnings calls to keep investors focused on the potential growth instead of fundamental health in an industry focused on cutting costs at the moment. But it's not just technology companies anymore, every industry is looking to get in on the buzz with some questionable or unnecessary uses of AI technology.
This is just the beginning though, it's looking like a repeat of the NFT situation where companies around the world look to get traffic from the latest innovative technology even if it doesn’t necessarily do much for the business model. However, at least AI technology does appear to have a much stronger value proposition than NFTs for some situations. But who cares about those cases, what are the worst possible uses for artificial intelligence chatbots in today’s world?
AI Powered Streaming
Do you like to choose from a wealth of original content provided by Netflix (NFLX), Disney+ (DIS), and Paramount+ (PARA)?
Me neither!
Instead the far better option would be if Netflix could just use all our search history and recorded conversations to generate new content that we would be interested in. Automating the process by combining different intellectual properties together would be great as well so we never run out of repeated content from overused franchises, which is a thing that is absolutely not happening in the entertainment industry currently.
Streaming services could even make the decision for consumers on what to watch so some households are forced to watch a horrifying compilation of Aaron Rodgers playing football with Joe Rogan while Mando tries to keep Baby Yoda safe. Meanwhile, other families can watch a mega reality show featuring the Kardashians, Jersey Shore cast, and the royal family fight about how hard it is to live a normal life or not getting enough time for GTL.
Automated Morning Coffee
If there’s one problem with Starbucks (SBUX) it's that there simply aren't enough combinations of coffee, milk, and sugar. The unicorn drink was fun and pumpkin spice lattes are always great but the world just really needs more ridiculous combinations of those three key ingredients.
Artificial intelligence can help out tremendously with this predicament to generate thousands of new coffee drinks. The best part is that using data from millions of customers the AI can figure out that people who love Starbucks' special beverages all have one thing in common, they don’t actually like coffee. At least not the taste of coffee, it just gets in the way of the pumpkin flavoring piled with cream and sugar.
So first thing to do, take out the coffee of the coffee beverage. Now just find the correct proportion of milk and cream to sugar by analyzing recent sleep data and judging how much sugar they need for an energy boost. Then, just top it off with seasonal trends and recent search data to best guess whether the customer needs a splash of rainbow in their drink or hint of leprechaun because St. Patrick’s Day is coming up.
Maximizing Investing Efficiency
Okay it's all been fun and games so far but let's finish up with some artificial intelligence implementation that can really improve people’s lives through investing. Investing is important for having the means to do a variety of things down the line and provide for family members, but it also can be very confusing.
A common phrase in finance is that investors should start by investing in what they believe in. If someone thinks Apple is going to continue to grow and dominate the market with its massive loyal customer base, then betting on Apple is a good starting point.
So, why not just automate the whole process and have financial firms make investments simply based on a consumer’s purchase history? People purchase products for a good reason and they clearly must enjoy the good or service provided if they purchase again. What signals believing in a business more than actually being a customer of said company?
Investors would no longer have to worry about chart reading and financial statements and instead have their investments decided for them so that their portfolio can be heavily weighted in Aurora Cannabis (ACB), Boston Beer Company (SAM), as well as General Motors (GM) and O’Reilly Automotive (ORLY) as a package deal.
Wrapping Up
The use cases for artificial intelligence are really just great all around as it cuts out so many unnecessary steps in businesses: customer making choices choices, sellers trying to entice customers to buy things. Now, with AI powered by the reams of data aggregated by big tech, businesses can just make all those nasty decisions for you by using choices you’ve already made. I’m looking forward to the AI -riven decisions for what Costco (COST) puts out for samples to combine with their amazing $1.50 hotdogs.
