It’s not May yet, but 2023 is already the year of AI and, as Bill Gates recently proclaimed, the age of AI has begun. We recently talked about ChatGPT’s potential to be a game changer in personal finance. He also demonstrated retirement planning using AutoGPT, pointing out that the future of investment advisors is informal.
Readers may recall that we developed an AI-based chatbot that was trained on articles.
Our initial plans to quickly deploy these bots site-wide were derailed, as our readers wanted serious answers to specific investment questions (such as the best stocks to invest in). We are currently working on developing these agents on a small scale and with specific training data.
However, the breadth and depth of AI’s usefulness in financial services is limitless. You can create text and create video and audio content based on that text (of course you can also create original audio and video from text prompts, but that’s another article).
AI can quickly create podcasts based on existing text content. I used Wondercraft.ai to convert two articles into a podcast.
The first attempt was based on the trial version of the app and why you must invest in your relationships to successfully plan for retirement.
The app rewrites the article with introduction and body. It is important to check the draft for accuracy before publishing. The first version did not do this. Thankfully there were no errors.
When we asked for feedback from social media, many felt that AI voices sound more human than ever before, but we haven’t quite achieved it. Many people wanted my voice instead of the Western accent.
So, for our second attempt, we chose RIL Demerger: Curation Risk in Passive Investing. The text required only minor changes. This time I made my voice an avatar. This app he needed 60 seconds of my speech to create this.
So I read from this article: Is it time for performance-linked fees for active mutual funds?
This was sent to the app and a podcast was created.
The output still doesn’t feel desi, but it’s probably better than previous attempts. Readers are encouraged to listen to these episodes and send us your feedback by tweeting or emailing us.You can also consider follow the channel Track upcoming episodes.
Imagine a journalist writing an article. When you’re ready, you can send it to our Podcasts and YouTube teams to instantly create audio and video content for publishing (more on that later). Reach is huge and immediate.
Many financial advisors are highly educated but media shy. You can use these avenues to create content and showcase your expertise to potential clients.
As Shankar Gurav pointed out in the Facebook group Asan Ideas for Wealth, we will soon start questioning whether the voices we hear on podcasts are human or AI!
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Dr. M. Pattabiraman(PhD) is the founder, editor-in-chief and principal author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over 9 years of experience in publishing news analysis, research and financial product development.connect with him via twitter again link in, again Youtube. Pattabiraman has co-authored three printed books: (1) Goal-based investing can get you rich (CNBC TV18) For DIY investors. (2) game changer for young people breadwinner. (3) Chinchu got a supernatural power! for children.he also wrote 7 others free e-book Various money management topics. He is a patron and co-founder of “.commission only india,An organization that promotes impartial, fee-free investment advice.
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