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🤖 Your Therapist Hates ChatGPT

🤖 Your Therapist Hates ChatGPT

PLUS: AI Brings Wall St To You

Davis McCondichie
April 28, 2023

What's up? You're reading Inclined AI. April is ending. Bring on the May flowers, amiright?

Here's what’s blooming:

People are using ChatGPT as their therapist
A new app merges ChatGPT with Robinhood
Why AI lies more in some languages
Witness two AIs talk to each other about life

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MORE PEOPLE ARE TELLING CHATBOTS HOW THEY FEEL

There’s a growing mental health crisis in America. The cost of therapy is rising, and people keep looking for alternatives.

Lo and behold, ChatGPT comes on the scene, and now people have a robot buddy to listen to all their problems. It’s free and feels human, so why not use it?

Well, it’s not a licensed therapist, for one. And most of the advice it’ll give you is generic or misguided.

Prompt: a robot lays on a couch Style: Van Gogh

AI models aren’t built with your life in mind. Instead, their limited reasoning comes from predicting the next logical word in a sequence and reinforced human feedback.

Sure, therapy sessions with ChatGPT work for some people, but nothing trumps human interaction.

The problem is that level of service comes at a premium or a cost.

Companies like BetterHelp struggle with privacy concerns and inflating costs which hampers their ability to serve customers. Then stack growing healthcare costs and high demand for actual therapists onto the pile.

You can see why people resort to the easy answer.

One word summarizes ChatGPT’s potential as a therapist: unproven.

You can’t trust Lindsay Lohan in Freaky Friday to be your therapist, and you can’t trust an unlicensed bot.

It’s easy to preach from the safety of my perspective, but the truth is this issue is complicated. People are complicated.

Seek the help you need, but don’t expect AI to be a miracle cure.

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CAN AI REALLY BEAT THE STREET AT ITS OWN GAME?

A new company called Magnifi launched an app that mixes the abilities of GPT-4 with the investment power of Robinhood.

They want everyone to devise well-formed trading strategies for a cheap monthly subscription.

ChatGPT is entering the moneymaking game at an extraordinary speed, and with that comes many misconceptions. You can’t start with a blank page and expect these models to fill the gaps.

Most of us are in over our heads when it comes to finance.

That’s a problem because ChatGPT outperforms the market when given direction and context. But ambiguity runs rampant in the stock market.

Large Language Models fit best with one specific part of retail investing. They translate corporate speak and demystify earnings calls.

Odds are most Robinhood users (and Magnifi users, I guess) don’t get paid to follow the markets and listen to earnings calls.

AI is a great way to siphon the critical moments into a digestible paragraph.

Average Joe's don't win the market on that knowledge alone, though.

Ideas like Magnifi sound cool, but their usefulness has a limit. If you don’t know the difference between EPS and a P/E Ratio, these tools aren’t for you.

As with any AI product, you need some background knowledge to squeeze all the pulp from these platforms.

Put another way: you can lead a model to the stock market, but you can’t make it trade.

Unless you’re a prominent investment firm with millions of dollars to spend on content-rich algorithms, they’ve had high-frequency trading bots for years, but that’s another can of worms.