Barbarians at the gate! The fall of the Employment empire.
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Barbarians at the gate! The fall of the Employment empire.

In 2019 the Organisation for Economic Co-operation and Development predicted that automation technologies would eliminate 14% of the world’s jobs and radically transform another 32%. Then regenerative AI arrived (ChatGPT and its hordes). These new technologies are very good, and maybe better than most humans, at things like coding, research and writing. Here are some…

Applying for everyone’s job – “The Prompt Engineer”.

Applying for everyone’s job – “The Prompt Engineer”.

Nobody had heard of a prompt engineer a few months ago but today it’s the newest, hottest job around, commanding anything up to $1 million a year. So, what does a prompt engineer do? In essence, they ask AI (Artificial Intelligence) the right question to get the right answer. Let’s assume a financial planning firm…

Modern slavery

Modern slavery

Is it better to own your work force rather than to rent it? “Slavery” is coming back. Most of us already have a slave or two like a vacuum cleaning robot, or an Alexa app that turns on your appliances and gives you information on demand. AI (Artificial intelligence) is going to give us an…

The real future of affordable and accessible advice (part 2)

The real future of affordable and accessible advice (part 2)

A major part of financial advice is analysing and recommending a product. Can a robot do this? I asked ChatGPT3 (the old version of the new AI sensation) “what superannuation funds in Australia have a low cost and high performance” as well as “do a quantitative analysis on BHP shares”?   The response in the…

The real future of affordable and accessible advice

The real future of affordable and accessible advice

QAR (Quality of Advice Review) is about making financial planning advice affordable and accessible to ordinary Australians. Qualified, licensed advisers have seen their numbers fall to nearly half as education and compliance requirements suffocate them and force up the cost of giving advice. According to Adviser Ratings, only 10.1% of consumers saw a wealth adviser…

Quo Vadis QAR?

Quo Vadis QAR?

Michelle Levy’s Quality of Advice Review (QAR), seems keen to put the banks back in business flogging their products to trusting customers, with the only protection that the advice be “good”, rather than in the customer’s “best interests” Will bank employees who thought their job was to help customers with their banking needs be given…

Will chatGPT eat your lunch?

Will chatGPT eat your lunch?

According to Reuters, as of Feb 1, ChatGPT (the new AI robot on the block), reached 100 million monthly active users in two months after launch, making it the fastest-growing consumer application in history. It has passed law exams in four courses at the University of Minnesota and another exam at the University of Pennsylvania’s…