So, let’s get one thing out of the way.
ChatGPT is not similar to J.A.R.V.I.S, an artificial intelligence (AI) system, from Marvel’s Iron Man.
Treating ChatGPT as an all-knowing being you can command using your voice will only leave you disappointed.
Yet, it will be a mistake if you ignore this trend.
After all, this AI chatbot has taken the world by storm, reaching over 100 million users within two months of its launch.
If the above smells like an opportunity, you’re right.
Even Warren Buffett has weighed in on ChatGPT:
“… it’s read every book, every legal opinion. I mean, the amount of time it could save you, if you were doing all kinds of things, is unbelievable”
At the same time, the Oracle of Omaha followed up with a key insight (bolded for emphasis):
“… this is extraordinary but I don’t know if it’s beneficial.”
We think Buffett hit the nail on the head here.
For all the exciting advancements in technology, as investors, we have to ground our thinking with actual business benefits.
After all, if the business does gain from ChatGPT and its ilk, there will not be any returns to match the enthusiasm for the trend.
Online media company Buzzfeed (NASDAQ: BZFD) created a — well — buzz when it announced that it will be incorporating ChatGPT as a core part of its operations.
Beyond curating content for publication, the media firm will be tapping on the chatbot’s ability to converse by creating quizzes where readers are able to interact with BuzzFeed and have customised text replies generated.
From what we observe, ChatGPT is well suited for repetitive tasks which do not require a high degree of fact-based research.
To understand why, check out our exclusive report which we will share at the end of this article.
A key player in this trend is OpenAI, the creator of ChatGPT, and its exclusive partner, tech giant Microsoft (NASDAQ: MSFT).
Earlier this year, the duo extended their long-running agreement, in a deal worth a rumoured US$10 billion stretching over multiple years.
A key reason why is how ChatGPT is expected to enhance Microsoft’s search engine Bing.
Phil Ockenden, the CFO for Windows Devices and Search businesses, said:
“… spark creativity.
You are no longer limited by searching for what already exists.
Bing will help you create new content with just a description such as writing a poem, drafting in e-mail or translating either of those into a different language.”
The value proposition may be catching on. In March, Bing reported that its search engine and chat feature was used by over 100 million daily active users within the first month after its launch.
We will also be providing more examples in our report.
Your personal co-pilot
Bing is just the start.
Microsoft expects to have an AI-copilot for everything, Microsoft CTO Kevin Scott says:
“This is the “copilot for everything” dream—that you would have a copilot that could sit alongside you as you’re doing any kind of cognitive work, helping you not just get more done, but also enhancing your creativity in new and exciting ways.”
For example, Scott said co-pilots will appear in Microsoft products such as Outlook and Word; given the product slate, we can certainly see the utility of having a co-pilot spark ideas or to help us draft content.
The Seattle company is not the only one with designs for the future.
In late March, OpenAI introduced plugins, opening the door for other businesses to develop new use cases based on its GPT models.
This move has been heralded as the “App Store” moment.
Among the first in line using OpenAI’s plugins are major firms such as Booking Holding’s (NASDAQ: BKNG) KAYAK and OpenTable, and Shopify (NYSE: SHOP).
Get Smart: An exclusive peek into the future
If you are fired up by the examples above, do check out our hot-off-the-press report on all the latest happenings at ChatGPT and why it matters to you, dear investor.
This report will provide an exclusive peek, a behind-the-scenes look, if you may, at insights we provide at The Smart All Stars Portfolio.
As we said from the start, it’s about how this trend will benefit businesses.
And in turn, how it will affect investors’ portfolios.
We are not a fan of long reports without insight.
If we were, our job will be taken over by ChatGPT soon enough.
If you’re wondering about how you can leverage AI in your investment portfolio, and how it can boost your portfolio, good news! We just released an urgent Special Free Report to cover everything you need to know about AI and its implications for investors. Find out which listed companies are actively using AI to power their businesses and what you should do to prepare for the AI boom. Click here to download your free report now.
Disclosure: Chin Hui Leong owns shares of Microsoft, Booking Holdings and Shopify.