Barron’s: ChatGPT vs Other AI Tools

March 21, 2023

AI tools for better content

Running Point and its chief investment officer, Michael Ashley Schulman, CFA, were quoted by Barron’s in an article — by Tom TaulliChatGPT Can Help Advisors, but Other AI Tools May Be Even Better — regarding using Chat Generative Pre-trained Transformer (ChatGPT) or other artificial intelligence (AI) writing tools to create custom content.

Generative AI technology

With generative AI technology one can gain keen understanding about a topic by asking ChatGPT, Google Bard, or other similar programs a single thoughtful question whereas with a normal internet search one would have to run a series of probing queries. The technology can be incorporated into document and email functionality so that users can interact with the software using natural language to automate repetitive tasks, gather information, easily create charts or content, and effectively translate output into multiple languages.

Note: To be cautious, we should observe whether the AI sources (reads, absorbs, and regurgitates) from genuine primary content, false information, or other AI-generated content.

An AI writing tool wishlist

One may want an AI writing tool that is multimodal (can handle images and text) and has repeatable customizable formats where one can customize the tone, sarcasm, and humor while maintaining brevity. Preferably it would be up-to-date on content and current events, search engine optimized (SEO) compliant, and have a plagiarism checker.

Quoted article excerpt is below:

Embracing ChatGPT. Since the program launched in late November 2022, financial advisors have been using this for many tasks. “I’ve used ChatGPT to double check grammar, see if I missed any obvious points, generate ideas for write-ups, and clue me in on what the generic answer is so that I can judge whether my response was novel or at least not obvious,” said Michael Ashely Schulman, who is a partner and chief investment officer at Running Point Capital Advisors, a multifamily office.

Barron's ChatGPT vs Other AI Tools
ChatGPT vs Other AI Tools — Graphics and design by

“Artificial intelligence would be the ultimate version of Google. The ultimate search engine that would understand everything on the web.”

LARRY page

Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Past performance is not indicative of future results. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-23-32