Tag Archives: AI

July 2023 Audio Video Review – RMD Reminder -AI – Cyber – FOMC on the Brakes – Financial Planning and Capital Market Review – By John Kvale CFA, CFP

Hello and Welcome to our July 2023 Financial Planning and Capital Market Update!

If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast audio format as well as Video!

Newbies –

We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets thoughts and current events!

Hope you enjoy!

BREAK IN – CLIENTS – Early RMD

July 2023 Video


YouTube

Financial Planning Tip(s)

AI – Artificial Intelligence Update – Great but Not Saving the World

In this timely post (in our humble opinion – IMHO) we revisit the latest rage… AI – Artificial Intelligence – very similar to Dot.com in our opinion… So we try to clarify…

Oh… Here is a GREAT YouTube resource for explaining AI – Christopher Penn a Marketing Expert we have long followed

From the Post:

AI – Artificial Intelligence Today explained

Program assigns a number to all the words in the English Language – other languages too of course.

Cluster of huge computers located somewhere inexpensive scans everything it can get its eyes on, and tags the patterns of the numbers from the words it has scanned…

Not kidding, this is it!

Cyber Reminder –

They are at it again…. Watch out!

Capital Market Comments

Go Powell Go – Rates a 24 Year High – Both Feet On the Brakes!

Careful what we ask for….

Have a Great Day, Talk to You at the End of August !

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

AI Explained in Simple Terms … Managing the Hype a bit … Conclusions from Explanation …

Whew … the fascination, hype (over hype), popularity and sexy coolness factor of Artificial Intelligence aka AI is astounding… Maybe getting over done here… Let’s bring this back down to Earth with the following simple Explanation ….

Heck, earlier this week, see below an AI Assistant popped up here on our WordPress blog platform…

Oh, by the way in less than 10 minutes ran this by the Mrs. and the graduating 18 year old, 15 year old techie was still asleep, and they got it … Hopefully can keep this short and simple here in words!

AI – Artificial Intelligence Today explained

Program assigns a number to all the words in the English Language – other languages too of course.

Cluster of huge computers located somewhere inexpensive scans everything it can get its eyes on, and tags the patterns of the numbers from the words it has scanned…

Not kidding, this is it!

Type in a question on an AI platform? Computer checks its numerical patterns from huge above, and gives you an answer!

Inferred Limitation

Original Content – By definition, it can only be a repeat of a pattern answer, nothing new and original, but put together parts from prior information…sure some may argue here… YES AI created this picture!

Huge Advantage

Repeatable, structured tasks… Think data entry, non creative programming, redundant tasks!

And that is it…. Wonderful possibilities, great time saver, will effect a lot of people, but hold on… Not going to solve all the worlds problems! Hoping for funny “Back to Earth” sarcasm here!

Have a Great “AI Explained” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

AI – It is cool, but maybe not THAT cool! Temper that Enthusiasm….

Surprisingly, our first straight forward AI – Artificial Intelligence post was here, in 2017

Wow… time either flies or we were on the cutting edge… likely the former!

We use it daily….It is super helpful, and likely will change much of the future direction of technology, many industries ….

Let’s not get too carried away though…

AI gets jiggy or at least many think so – Follow the REAL Revenues

Our most recent article here … just shy of 60 days ago, sported a reminder to follow the revenues and not get caught in the hype….

When that article was written, it was one of the latest from our buddies at Visual Capitalist… there are not frequent pertinent articles on subject matter…. there are now seven more… hmmmm

Google Worldwide Search Trends “AI”

Vivid memories of 1999 thinking to myself:

“Those old guys do not know what they are doing, dot com is the bomb and will change the world!” …

It did, but not nearly as broadly or fast as expected and with a HUGE number of casualties along the way!

Have a Great “Keeping AI Real” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

DALL – E – 2 from Open AI (Artificial Intelligence) – Copyright Free Art/Pictures/Images Created by You or Me! … Examples …

We have spoken about this before, but in brevity….and the popularity of this is rising so fast, we can hardly keep up ….

ChatGPT is all the rage at the moment, and we spoke of it here, again in brevity….

This is making its’ way into our coming Newsletter in greater detail…. But let’s start from the beginnings of our experience and show you just a few of our creations…

Dall-E-2 – the Image portion from Open AI

With Copyright issues abounding, we happily stumbled into DALL-E-2 named somewhat from the Pixar Movie WALL-E and Salvador Dali the artist… The whole family has accounts and all enjoy creating images… in fact, here are just a few images we have been using here…. once again all created by us ….

Oh, and those unfamiliar with the process … you type a literal sentence or phrase of what you want it to create and BOOM you get an AI created picture…

“Uncle Sam Beach Bum” created this and was used in a post where we spoke of Tax time not here yet….

Here are a few more…again all used here in our blog…VERY HAPPILY

We will dive deeper into CHATGPT next…but hope this helps give you a 10000 foot overview and will let you know what people are talking about when this terminology is mentioned!

Have a Great “DALL-E-2” Informed Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

Sports weekend …. No Axe … Tax Preview … More AI … Friday

This weekend marks the final NFL Football game of the season aka the Super Bowl…..

With no Axe to grind, the commercials will be of interest… likely no Crypto domination like last year… wonder who will take the reins?

Taxes

The IRS sent an interesting note out in the last week… “Key Points to keep in mind when filing your 2022 return!” Not kidding, can’t make this up…. will review and let you know the high points… just to be safe!

AI – Artificial Intelligence

Post Microsoft interest, suddenly the air waves are full of AI talk … we will have more on this shortly, but are surprised at mainstream interest… our fear was for the educators…but looks like everyone is interested!

Have a Great Friday and weekend, next week leads into a Monday Holiday, which always makes the prior week fly… enjoy – Talk next week!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

Look out Educators … AI (Artificial Intelligence- Chat GPT) Takes Education System by Storm … Uh oh!

Coming from a large family of educators, the 15 year old (Pierce) earlier this week proudly showed off the ability to type in a sentence and an AI (Artificial Intelligence) called Chat GPT spit out a beautifully complete paragraph about whatever the sentence described.

Uh Oh …

AI – Artificial Intelligence coming by storm

Those with super keen memories will note, a find of AI art via Dall-E-2 occurred earlier this year and with great relief, most of the non graph or humorous post pictures are now created via AI with just a request of a sentence and an all original picture is created…..

This image was made by request “Frog Unhappy getting an email!” used during an unsubscribe post here

But what if it was a paragraph request that sounds like the following:

“Write a paragraph about the signing of the declaration of independence in 10th grade level!”

Uh Oh

Trust us it works extremely well … so good Microsoft has an offer for 49% of the company for a mere $10 billion….announced today… just a few days after the 14 year old find….

Did we say this system has only been open to general users for a few weeks…. the reason we cannot show you the answer from above as the site has been down almost all day!

Good Luck fellow educators, this may be challenging!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

How Snowflakes are Formed … Very Relevant in Our Neck of the Woods recently… Preview of more AI (Artificial Intelligence) and good ole Federal Funds Rate (Increase this week)

Ya ya … it was 100+ degrees for like 60 days this summer….those afar go ahead and giggle (many have already jabbed- tha’s cool and deserved – haha)… in the 20’s suddenly and the schools in our area were closed T-Friday — Make up Weather days here we come…. amazing how out of sorts the schedule can get with just a few snow days….digressing

How Snowflakes are formed

Of course from our buds at Visual Capitalists… thought timely for sure!

Travels Coming – Previews

With some business and pleasure travels planned – south and north soon, early work on posts are on deck… Want to talk more on AI (Artificial Intelligence) if you missed it, we spoke about it here- who knew it would be so cutting edge… not us – and our good ole friend Federal Funds Rate which were raised this week….

Ahhhhh….today is a “Thaw out Friday” and “See how much School can be forgotten in Three… no Four Days” Weekend…

Enjoy your Friday and weekend1

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

AI – Artificial Intelligence to take over the World? Nah….

The possibilities seem endless.

An 18 wheeler that can drive across the country at night with less traffic and no human to interfere!

No parking lots, as all needed cars could be used as needed and no unnecessary excess – land savings, energy saving and environmental savings!

A robot does the job, endlessly with no rest.

Artificial Intelligence (AI) Jets cooled

In this recent neat Wharton School Panel Review Report  a lot of cold water is tossed on some of the possibilities …. (Wharton is our friend as occasional co-host of live Sirius Radio Your Money, with Kent Smetters)

But First a few recent headlines!

CNBC 7-19-17 “Half of American Jobs are at risk from automation, new study suggests

The Guardian 9-13-15 “Self driving cars: From 2020 you will be permanent back seat driver

Not so Fast on AI – Artificial Intelligence Taking Over the WorldRobot - man-320276__340!

 

On Self Driving Cars

From the Wharton Panel Review.

Vijay Kumar, dean of engineering at University of Pennsylvania (very credible position for opinion)

“It turns out that so much of what appears in mainstream media about self-driving cars being just around the corner is very much overstated …”

“In other words, many optimistic articles about autonomous vehicles overlook the fact that it will take many years to get enough data to make fully self-driving cars work at a large scale — not just a couple of years.”

“A fundamental problem is that most observers do not realize just how vast an amount of data is needed to operate in the physical world — ever-increasing amounts, or, as Kumar calls it — “exponential” amounts”

So this makes sense to us … the last few incremental steps for this to actually occur may be MUCH greater than many think, it’s just harder to get the last 100% completely automated vehicle.

Calling Elon Musk Out

Again from Professor Kumar …

“Elon Musk will also tell you that batteries are improving and getting better and better. Actually, it’s the same battery that existed five or 10 years ago.” What is different is that batteries have become smaller and less expensive, “because more of us are buying batteries. But fundamentally it’s the same thing.”

There sure seems to be a lot of confusion on this subject… some say the batteries are getting better, but few can prove it at this point…

Machines still have a long way to go

“In the near future, no one needs to worry because machines are pretty dumb….” Kumar said. As an example, Fung (Pascale Fung, a professor of electronic and computer engineering at Hong Kong University of Science and Technology) explained that she could make a robot today capable of doing some simple household chores, but, “it’s still cheaper for me to do it, or to teach my kids or my husband to do it. So, for the near future there are tons of jobs where it would be too expensive to replace them with machines. Fifty to 100 years from now, that’s likely to change, just as today’s world is different from 50 years ago.”

We find this extremely interesting, greatly enjoy the views and encourage you to read the article….

The Total Opposite View

In February of 2015 we had the opportunity to listen to Peter Diamandis and wrote a report on his findings here

He said two years ago, that computers would be faster/smarter than humans in eight years .. here is the chart from the report we wrote…

Computer Power Expanding

Someone is wrong!

Differing opinions are great!

Likely somewhere between 6 years and 100 … Ok , know its wide, but that’s the extreme from both views !

Careful what you believe!!!

Hope you enjoyed!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com