Well, that’s what we wanted to know, too. Around the office we used to refer to AI as either Art Intelligence or Alex Intelligence. Turns out we were not quite accurate.
A popular tool of AI is called Chat GPT. Since it’s free, we asked it to write the bulk of this article for us. We asked it “What is Artificial Intelligence”?
Here is the answer we got:
Artificial Intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think and learn like humans. AI systems use algorithms, statistical models, and large amounts of data to recognize patterns, make decisions, and perform tasks that typically require human intelligence, such as speech recognition, language translation, image and video analysis, and decision-making.
AI can be categorized into two main types: narrow or weak AI, which is designed to perform specific tasks and functions within a particular domain or context, and general or strong AI, which can perform any intellectual task that a human can do.
Narrow AI is used in many applications today, including virtual personal assistants, fraud detection systems, image and voice recognition software, and autonomous vehicles. General AI, on the other hand, is still a theoretical concept and has not yet been achieved.
AI is a rapidly developing field with the potential to transform many industries, from healthcare to finance to transportation. However, as with any new technology, there are also concerns about the impact of AI on society, such as job displacement and privacy issues.
So, there you go. Seems understandable. What we cannot understand yet is the impact of AI on investing. It almost certainly will have an impact, and might have had one already, as some stocks like Microsoft and NVIDIA (graphics processor manufacturer) have risen lately.