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A third of US investors are open to trusting AI financial advice: Survey

August 25, 2023 Coin Telegraph

In a recent survey from the Certified Financial Planner Board, 31% of investors said they would be fine to follow AI financial advice without verifying the information.

Around one in three United States investors would be open to following AI-generated financial advice without verifying it with another source, according to a recent survey.

On Aug. 22, the Certified Financial Planner Board of Standards released the results of a poll that surveyed over 1,100 adults in early July.

Only 31% of the respondents had actually received financial planning advice from AI, with 80% recorded some level of satisfaction with the experience. Older respondents were more likely to be satisfied with the experience compared to those under 45 years of age.

However, nearly a third of all surveyed respondents, whether they have tried it or not, indicated they’d be comfortable taking advice without verifying it.

Before the wave of AI chatbots, such as OpenAI’s ChatGPT and Google’s Bard, it had been noted that more investors were beginning to rely on friends, influencers, and social media for investment advice.

Interestingly, the most recent survey found generative AI tools have beat out social media across all ages, with investors surveyed saying they were comparatively more comfortable using AI financial advice without verifying the information, compared to social media.

*26% cited comfort in using unverified financial advice from social media, compared to 31% citing the same from a generative AI tool. Source: CFP Board*

The CFP Board claimed, however, that investors of all ages cited being more comfortable with AI-generated and social media-derived financial advice if it was verified by a financial advisor.

*Experience using AI for financial advice was low but was largely satisfying for those who had. Source: CFP Board*

The findings, however, found that only 52% of the respondents were interested in receiving AI-created financial advice in the future.

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5 AI tools for summarizing a research paper

June 7, 2023 Coin Telegraph

ai tools

Unlock the power of AI tools to extract key insights and condense complex information effortlessly, revolutionizing your research paper summarization process.

The inherent intricacy and technical nature of research papers’ content make reading them a challenging undertaking. These research articles can be difficult to understand, especially for non-experts or those who are new to the area because they frequently contain specialized vocabulary, complicated concepts and complex methodologies. The amount of jargon and technical terms might act as a barrier, making it harder for readers to comprehend the content.

Additionally, research papers frequently dive into complex theories, models and statistical analyses, demanding a solid background understanding of the subject to ensure adequate comprehension. The voluminous nature of the research papers and the requirement to critically evaluate the provided data only make the issue worse.

As a result, it could be difficult for readers to distill the key points, determine the significance of the findings, and combine the data into a coherent perspective. It frequently takes persistence, the incremental accumulation of domain-specific knowledge and the creation of efficient reading techniques to get beyond these obstacles.

Artificial intelligence (AI)-powered tools that provide support for tackling the complexity of reading research papers can be used to solve this complexity. They can produce succinct summaries, make the language simpler, provide contextualization, extract pertinent data, and provide answers to certain questions. By leveraging these tools, researchers can save time and enhance their understanding of complex papers.

But it’s crucial to keep in mind that AI tools should support human analysis and critical thinking rather than substitute for them. In order to ensure the correctness and reliability of the data collected from research publications, researchers should exercise caution and use their domain experience to check and analyze the outputs generated by AI techniques.

Here are five AI tools that may help summarize a research paper and save one’s time.

ChatGPT

ChatGPT plays a crucial role in summarizing research papers by extracting key information, offering succinct summaries, demystifying technical language, contextualizing the research and supporting literature reviews. With ChatGPT’s assistance, researchers can gain a thorough understanding of papers while also saving time.

Extrapolating key points: ChatGPT can analyze a research article and pinpoint its core ideas and most important conclusions. It might draw attention to crucial details, including the goals, methods, findings and conclusions of the study.
Information condensation: ChatGPT can provide succinct summaries of research papers that perfectly capture their main points by processing their text. It can condense large sentences or sections into shorter, easier-to-read summaries, giving a summary of the main points and contributions of the paper.
Simplifying technical terms: Technical terms and sophisticated terminology are frequently used in research papers. To make the summary more understandable to a wider audience, ChatGPT can rephrase and clarify these terms. It may offer explanations in simple terms to aid readers in comprehending the material.
Contextualizing: ChatGPT can contextualize the research paper by connecting it to prior understanding or highlighting its significance within a larger body of research. Giving readers a thorough knowledge of the paper’s significance, it may include background information or make links to pertinent theories, studies or trends.
Handling follow-up questions: Researchers can communicate with ChatGPT to ask specific questions regarding the research paper in order to get more information or elaborations on certain points. Based on its knowledge base, ChatGPT can offer extra details or insights.

QuillBot

QuillBot offers a range of free tools that empower writers to enhance their skills. Both ChatGPT and QuillBot can be used together. When using ChatGPT and QuillBot in conjunction, begin with ChatGPT’s output and paste the output into QuillBot.

QuillBot then analyzes the text and offers suggestions to enhance readability, coherence and engagement. One has the freedom to decide between many writing styles, including expansive, imaginative, straightforward and summarized. To further personalize the text and give it a distinct voice and tone, users can change the sentence structure, word choice and overall composition.

QuillBot’s Summarizer tool can help break complex information into digestible bullet points. To understand a research paper, one can either directly input the content into QuillBot or collaborate with ChatGPT to generate a condensed output. Afterward, they can utilize QuillBot’s Summarizer to further summarize the generated output. This streamlined approach allows for efficient summarization of the research paper.

SciSpacy

SciSpacy is a specialized natural language processing (NLP) library with an emphasis on scientific text processing. It makes use of pre-trained models to identify and annotate relationships and entities that are particular to a given domain.

It also contains functionalities for sentence segmentation, tokenization, part-of-speech tagging, dependency parsing and named entity recognition. Researchers can obtain deeper insights into scientific literature by using SciSpacy to streamline their analysis and summarizing procedures, extract important data, find pertinent entities and discover relevant things.

IBM Watson Discovery

An AI-powered tool called IBM Watson Discovery makes it possible to analyze and summarize academic publications. It makes use of cutting-edge machine learning and NLP techniques to glean insights from massive amounts of unstructured data, including papers, articles and scientific publications.

1.. Some AI tools that can provide summaries or reviews of papers. Here are three examples:
1. IBM Watson Discovery: uses natural language processing and machine learning algorithms to provide summaries of research papers.
— SULTECH (@sultechsolution) June 1, 2023

In order to comprehend the context, ideas and links inside the text, Watson Discovery employs its cognitive capabilities, which enable researchers to find unnoticed patterns, trends and connections. It makes it simpler to navigate and summarize complicated research papers since it can highlight important entities, relationships and subjects.

Researchers can build unique queries, filter and categorize data, and produce summaries of pertinent research findings using Watson Discovery. Additionally, the program includes extensive search capabilities, allowing users to conduct exact searches and obtain certain data from enormous document libraries.

Researchers may read and comprehend lengthy research papers faster and with less effort by utilizing IBM Watson Discovery. It offers a thorough and effective technique to find pertinent information, learn new things and make it easier to summarize and evaluate scientific material.

Semantic Scholar

Semantic Scholar is an AI-powered academic search engine that uses machine learning algorithms to comprehend and analyze scholarly information.

To provide thorough summaries of the research publications’ primary conclusions, Semantic Scholar collects important data from them, including abstracts, citations and key terms. Additionally, it provides tools like subject grouping, related research recommendations and citation analysis that can help researchers find and summarize pertinent literature.

The platform’s AI features allow it to recognize significant publications and well-known authors and develop research trends within particular subjects. Researchers wishing to summarize a particular area of research or keep up with the most recent developments in their field may find this to be especially helpful.

Researchers can read succinct summaries of research publications, find relevant work and gain insightful information to support their own research efforts by utilizing Semantic Scholar. For academics, researchers and scholars who need to quickly summarize and navigate through voluminous research literature, the tool is invaluable.

Precaution is better than cure

It’s crucial to keep in mind that AI tools may not always accurately capture the context of the original publication, even though they can help summarize research papers. Having said that, the output from such tools may serve as a starting point, and one can then edit the summary using their own knowledge and experience.

Australia asks if ‘high-risk’ AI should be banned in surprise consultation

June 1, 2023 Coin Telegraph

The Australian government suddenly announced a new eight-week consultation to ask how heavily it should police the AI sector.

The Australian government has announced a sudden eight-week consultation that will seek to understand whether any “high-risk” artificial intelligence tools should be banned.

Other regions, including the United States, the European Union and China, have also launched measures to understand and potentially mitigate risks associated with rapid AI development in recent months.

On June 1, Industry and Science Minister Ed Husic announced the release of two papers — a discussion paper on “Safe and Responsible AI in Australia” and a report on generative AI from the National Science and Technology Council.

The papers came alongside a consultation that will run until July 26.

The government is wanting feedback on how to support the “safe and responsible use of AI” and discusses if it should take either voluntary approaches such as ethical frameworks, if specific regulation is needed or undertake a mix of both approaches.

*A map of options for potential AI governance with a spectrum from “voluntary” to “regulatory.” Source: Department of Industry, Science and Resources*

A question in the consultation directly asks, “whether any high-risk AI applications or technologies should be banned completely?” and what criteria should be used to identify such AI tools that should be banned.

A draft risk matrix for AI models was included for feedback in the comprehensive discussion paper. While only to provide examples it categorized AI in self-driving cars as “high risk” while a generative AI tool used for a purpose such as creating medical patient records was considered “medium risk.”

#AI is already part of our lives. As the technology develops, we need to ensure it meets Australians’ expectations of responsible use. Be part of the @IndustryGovAu discussion, below. https://t.co/Gz11JCXlsG
— Australia's Chief Scientist (@ScienceChiefAu) June 1, 2023

Highlighted in the paper was the “positive” AI use in the medical, engineering and legal industries but also its “harmful” uses such as deepfake tools, use in creating fake news and cases where AI bots had encouraged self-harm.

The bias of AI models and “hallucinations” — nonsensical or false information generated by AI’s — were also brought up as issues.

The discussion paper claims AI adoption is “relatively low” in the country as it has “low levels of public trust.” It also pointed to AI regulation in other jurisdictions and Italy’s temporary ban on ChatGPT.

Meanwhile, the National Science and Technology Council report said that Australia has some advantageous AI capabilities in robotics and computer vision, but its “core fundamental capacity in [large language models] and related areas is relatively weak,” and added:

“The concentration of generative AI resources within a small number of large multinational and primarily US-based technology companies poses potentials [sic] risks to Australia.”

The report further discussed global AI regulation, gave examples of generative AI models, and opined they “will likely impact everything from banking and finance to public services, education and creative industries.”

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‘Godfather of AI’ resigns from Google, warns of the dangers of AI

May 2, 2023 Coin Telegraph

Dr. Geoffrey Hinton is understood to have worked on artificial intelligence his whole life and is now warning how dangerous the technology could be.

An Artificial Intelligence (AI) pioneer, nicknamed the “Godfather of AI” has resigned from his position at Big Tech firm Google so he could speak more openly about the potential dangers of the technology.

Before resigning, Dr. Geoffrey Hinton worked at Google on machine learning algorithms for more than a decade. He reportedly earned his nickname due to his lifelong work on neural networks.

However, in a tweet on May 1, Hinton clarified that he left his position at Google “so that I could talk about the dangers of AI.”

In the NYT today, Cade Metz implies that I left Google so that I could criticize Google. Actually, I left so that I could talk about the dangers of AI without considering how this impacts Google. Google has acted very responsibly.
— Geoffrey Hinton (@geoffreyhinton) May 1, 2023

In an interview with the New York Times, his most immediate concern with AI was its use in flooding the internet with fake photos, videos and text, where he voiced concern that many won’t “be able to know what is true anymore.”

Hinton’s other worries concerned AI tech taking over jobs. In the future, he believes AI could pose a threat to humanity due to it learning unexpected behaviors from the massive amounts of data it analyzes.

He also expressed concern at the continuing AI arms race that seeks to further develop the tech for use in lethal autonomous weapons systems (LAWS).

Hinton also expressed some partial regret over his life's work:

“I console myself with the normal excuse: If I hadn’t done it, somebody else would have.”

In recent months, regulators, lawmakers and tech industry executives have also expressed concern about the development of AI. In March, over 2,600 tech executives and researchers signed an open letter in March that urged for a temporary halt of AI development citing “profound risks to society and humanity.”

A group of 12 European Union lawmakers signed a similar letter in April and a recent EU draft bill classifies AI tools based on their risk levels. The United Kingdom is also extending $125 million to support a task force for the development of “safe AI.”

AI used in fake news campaigns and pranks

AI tools are already reportedly being used for disinformation, with recent examples of media outlets tricked into publishing fake news, while one German outlet even used AI to fabricate an interview.

On May 1, Binance claimed it was the victim of a ChatGPT-originated smear campaign and shared evidence of the chatbot claiming its CEO Changpeng “CZ” Zhao was a member of a Chinese Communist Party youth organization.

To all the crypto and AI sleuths out there, here is the ChatGPT thread if someone wants to dig in. As you'll see ChatGPT pulls this from a fake LinkedIn profile and a non-existent @Forbes article. We can't find any evidence of this story nor the LinkedIn page ever existing. pic.twitter.com/szLaix3nza
— Patrick Hillmann ‍♂️ (@PRHillmann) May 1, 2023

The bot linked to a Forbes article and LinkedIn page which it claimed it sourced the information from, however, the article appears to not exist and the LinkedIn profile isn’t Zhao’s.

Last week, a group of pranksters also tricked multiple media outlets around the world, including the Daily Mail and The Independent.

The Daily Mail published and later took down a story about a purported Canadian actor called “Saint Von Colucci” who was said to have died after a plastic surgery operation to make him look more like a South Korean pop star.

The news came from a press release regarding the actor's death, which was sent by an entity masquerading as a public relations firm and used what appeared to be AI-generated images.

*A picture sent to multiple media outlets purporting to be Saint Von Colucci. Source:* *Internet Archive*

In April, the German outlet Die Aktuelle published an interview that used ChatGPT to synthesize a conversation with former Formula One driver Michael Schumacher, who suffered a serious brain injury in a 2013 skiing accident.

It was reported Schumacher’s family would take legal action over the article.

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