Episode Transcript
[00:00:00] Hello and welcome to another episode of Financial Sniggers. I'm your host, Alisa McCabe, and today we are going to be talking about chat G B T. Now, I know I've already done a couple of podcasts on chat, G B T. If you can't tell kind of nerd out about it, I. I can't tell you how much we've been using it and how great it's been for everyone on my team to utilize it, and I just want you to know just some basics about it.
So, This topic of artificial intelligence has been all over the place and everybody's kind of freaking out that they're gonna take over. Um, it's not gonna happen. Chat. G p t can't get some things right. Just so you know. Um, but I don't know if you, if people know what chat GP stands for. So the G P T and chat, G p t stands for generative pre.
Trained [00:01:00] transformer, which is a program that can realistically write like a human and interact in a conversational way. So you can, you know, put in a complicated question and chat. G p t will give you an amazing lifelike, sometimes accurate answer. So it was launched in November, 2022. And I don't, at this, at this recording, I'm not even sure what, um, What version they're up to at this point, it might be four.
Um, but you can get a paid version of it and that way, uh, I think it's $20 a month. And that way you have, it'll start to learn your cadence and how you speak and it will develop to respond to, in a way that is more, in a way that you understand, which is great, but, I actually wanted to focus on what should you be asking?
Chat, G p T and what shouldn't you be asking? [00:02:00] Chat, G p T. So some of the things that you can ask, chat g p t are things like, Hey, can you edit this blog post to make it more humorous? It can do that. Um, can you write a professional email to my client about something, you know, I. About, um, a service that we're providing.
Um, you can also ask it pretty basic questions like what's the difference between a debit and a credit, or, um, who won the World Series in 1985? Things like that. You can definitely ask and it can give you some information. Granted, you can also Google some of that stuff, but. The things that I highly recommend you not asking are things that are like tax questions, like, here's all my tax information.
Am I eligible for an employee retention credit? [00:03:00] From our work with chat G B T, we are finding that about 20% of the time they're wrong. And, um, and there's some famous case going on right now where a lawyer actually got information from chat, g p t and chat g p t made up a lawsuit. It doesn't even exist.
And so when you do it, you could also ask chat, g p t to cite, re cite their sources. So when you go to ask a question, Which, you know, you might ask them something about taxes. So, um, and it could be something along the lines of, when do I have to collect a W nine from a contractor? And you could ask Chachi P to cite its sources.
So then you go in and you check their sources. So it will tell you information and then go in and check their [00:04:00] sources and make sure it's sites like. You know the irs irs.gov that is providing the information. So if you are going to ask something that is complex, ask Chat g p t to cite its sources, and that way you can actually check back on those things.
So there's also all the crazy stuff you can ask for. So you can ask for anything. You can ask for a great recipe for granola or write an engagement letter for. You know, your services that you provide, and those are really great ways to use it in our industry. Uh, there's a lot of debate on using it for analyzing financials.
I suggest that you don't, because putting your financial information into something online that is potentially available to everybody else is really not. Smart because then someone else might get access to it and it's not what you wanna do. You [00:05:00] really don't wanna put your finances out into the internet.
Even if they're great and you're really proud of them, it's probably not what you wanna do. So you can actually have chat, g p t, write and add for your marketing services, and you can do it in all different kinds of languages. You can actually even say, What would this sound like if it was delivered by Tina Fey or, uh, make it so that, you know, I need it to, um, appeal to a certain audience.
It can be, uh, stay-at-home moms, or I want it to appeal to, uh, business owners who run florists who are a florist. Um, you know, something along those lines. It's really a creative tool, but I highly, I. Suggest that you use it for right now as of anyway for maybe editing things and writing some content for you.
And then [00:06:00] maybe in the future we'll be able to do some different things with it. But for right now, I would hold off on it. Um, and, and, you know, don't be sending them too complex. Questions because you can't always be sure that the answer is correct. And if you do have a complex business question, head over to our website, first steps financial.com, and click on the Let's Chat button and we can talk about any of these complex business ideas that you have, and maybe we have a solution for you.
We might be even better than chat g p T. All right, looking forward to talking to you soon.
