Page 22 - DIY Investor Magazine | Issue 39

AI – OPPORTUNITY OR THREAT?
Nov 2023 22
DIY Investor Magazine ·
Silicon Valley Byte Size - The Allianz Technology Trust Podcast
ChatGPT brought artificial intelligence (AI) firmly into investors’ sights in 2023. But, where are we today in terms of AI and its applications, and where are we going in the future? Cherry and
Mike look at the implications and whether the initial euphoria from an investment perspective is warranted. Increasing use of data is an advantage for businesses, and those that fall behind in using AI risk being at a competitive disadvantage. On balance, is AI an opportunity or a threat?
CR: Hello, welcome to Silicon Valley Byte Size, an update on the
Where are heading, is towards limited memory artificial intelligence, which is why people are so excited about ChatGPT. tech sector from Allianz Technology Trust. I’m Cherry Reynard
‘Limited memory’ tells you there’s only a certain amount of
and today we’re talking about artificial intelligence. The rapid
adoption of ChatGPT brought it to investors’ attention and share
characters this technology can handle today, and that continues to grow.
price performance for related companies has been very strong
since the start of the year. However, recent reporting suggests
the tech giant may take considerable investment to realise its
Where we want to get to eventually, is more a kind of theory of the mind, right? How do we as human beings interpret things? potential. So, with me to take a closer look is Mike Seidenberg,
A great example is Google Maps - whether you miss your turn manager of the Trust. Welcome, Mike.
or not, it’s very rudimentary with respect to just rerouting you –ideally we’ll create machines that interact more effectively with MS: Good to see you again.
humans and consider our state of being, but we’re not there yet. CR: Can we start with a look at how AI works and the various
What we’re seeing are use cases that are really innovative primarily because technology tends to allow companies to sell different types?
more things, have happier customers or take costs out, right;
MS: Yeah, absolutely. So much has been written, that sometimes even my head spins; I think the right way to break it down is to think about where we are today, where we’re going, and where we hope to be. Today’s AI are reactive machines - you’ve probably seen if you interact with a particular consumer brand or a business brand and, they ask if you need help.
If you deviate at all, you usually just say, ‘agent’, right, because you want to talk to a person? By the way, these machines are helpful; I had a really good interaction the other day where I needed to make a return because I bought vanilla paste versus vanilla liquid, and on Amazon, its non-returnable. But knowing you can return things on Amazon, you just have to go a layer deeper; I interacted with a chatbot, and it was a really good experience. It took me a while to figure out it wasn’t an agent, but I got my refund, and felt great as a consumer.
it’s kind of those three things I always think about technology solving challenges. So yeah, AI is really top of mind today, and who knows where the future goes?
Byte Size Takeaway: How might the cyber security sector be influenced by artificial intelligence (AI)?