🦾 The AI Revolution: Regulate or Regret it Later

^{"Whatever happens, if you act from the heart, you can't make a mistake."}

— Roy ‘Tin Cup’ McAvoy

👋 Friends, Rallie here. The newsletter kickstarting your month with a fresh dose of crypto, finance, and tech.

On the menu:

• 🦾 The AI Revolution: Regulate or Regret it Later

• 🗞️ Headlines That Hit

• 📈 Refresh: Financial Advisors

• 🤓 Trivia Thursday

• 💯 Top Tweets

The Rallie Recap

🤖 Sound the alarm! Could AI be the end of the human race? Today, we breakdown why the godfathers of AI are concerned about their creations.

• The basics: AI is the combination of computer science and sets of data which enables a computer system to problem-solve. Although there are different types of models and systems, let’s focus on generative AI. This is the model that ChatGPT falls into.

• Generative AI is…? A deep-learning model which takes raw data to learn and generate content or responses when prompted. The number of specific resources available for the AI’s dataset has rapidly accelerated AI accuracy, efficiency, range, and given way to innovative uses.

• Its growth is the problem. This week, Geoffrey Hinton, one of three so-called ‘godfathers of artificial intelligence’ was quoted as saying that AI “could get more intelligent than us and could decide to take over, and we need to worry now about how we prevent that happening.”

• Unlike the movies, his main concerns aren’t as action-filled as physically fighting robots, but more-so are issues such as disinformation campaigns which can interfere with elections.

• Far too useful… although experts argue if AI is becoming too intelligent, they all agree that even without improvements to their capabilities, the current systems can become critical threats to society.

• And there’s some big players. China plans to become a global leader in AI by 2030 but they also have big security concerns, and have already started steps to set heavy regulation to fit their party’s values and ideals.

• Still, the fight for the AI crown continues. In our Tuesday newsletter, we talked about NVIDIA being at the forefront of AI tech; however, other companies such as AMD are also hungry for the #1 spot.

• Either way, we think that it’s unlikely that talks of heavy regulation on AI will hinder the race to build projects in the space anytime soon. What do you think?

Headlines That Hit

• 🇺🇸 US bipartisanship? The bill preventing a national default was passed in the House of Representatives by a vote of 314 - 117, but will Senate do the same?

• 🤥 It’s a sham! Lawyer uses ChatGPT for legal research and gets caught with six fake cases after forgetting to fact-check. 

• 🛒 Amazon’s global walk out. The company’s employees plan to protest its return-to-office mandate and its deceptive climate promises for meaningful change.

• 👀 Don’t trust the doorbell. Amazon pays a $5.8M settlement after an employee spied on female customers with doorbell cameras.

• ₿ Bitcoin rises past $28K after the US agrees to the debt ceiling deal to avert a socioeconomic crisis.

• 🐕 The DOGE explosion. Analysts are using Dogecoin, the world’s leading meme crypto, as an indicator to predict whether the market will tank or skyrocket in price soon. 

Rallie Refresh: Financial Advisors

📈 When you’re just starting to invest, it can be hard to know where to begin and who to trust for advice. Today, we’re comparing fee-for-service financial advisors and robo-advisors to help you determine the best fit for your financial needs. Let’s go!

🤝 Fee-for-Service Advisors: A fee-for-service advisor is a financial professional who offers personalized financial advice and services in exchange for a fee, providing comprehensive financial planning. They offer:

• Personalized advice tailored to your specific financial situation

• Human interaction for guidance, support, and reassurance

• Expertise in comprehensive financial planning beyond investments

• May be suited for complex financial situations and high net worth individuals

• Emotional support during market fluctuations and major life events

• Ongoing monitoring and adjustments aligned with changing circumstances

🤖 Robo-advisors: A robo-advisor is an automated digital platform that uses algorithms to manage investment portfolios based on user inputs, and provides investment management services. They offer:

• Cost-effective investment management with lower fees

• Convenient accessibility through online platforms

• Diversified portfolios tailored to your risk profile

• Automated processes for portfolio rebalancing and tax optimization

• Data-driven decisions based on algorithms and historical data

• Educational resources to enhance financial knowledge

• Regular updates and transparent reporting on portfolio performance

• Scalable services to accommodate various investment sizes

🤔 Overall, if you’re choosing between a robo-advisor or a fee-for-service advisor be sure to consider factors such as your financial needs, preference for human interaction, complexity of your situation, and budget. And always DYOR on advisor qualifications to ensure their expertise. Happy investing!

Fun Fact

📈 The answer for Tuesday’s newsletter is two pizzas! Tune in next week for today’s fun fact answer.

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That's all for today. Stay hungry & we'll catch you next time. ✌️

DISCLAIMER: This is not financial or legal advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.