An article by ChatGPT

Every few weeks we get an urgent email asking for help from a company that is in dire straits. Of course some of these might be scams, but for the most part, we have found them to be real. And for the most part they are about to run out of money, get taken over by a loan they cannot pay off when called, or otherwise lose years of effort and investment. And there is always a financial basis for the problem.

Time is of the essence

In responding to their queries, the first worst indicator of their situation is how much time they have to go. In the business we often call this "runway", as in when you run out of it, you crash and possibly burn.

But that's not what this article is about.

The ChatGPTs of advisory services

So naturally, or rather artificially, I asked ChatGPT to provide some assistance on this point... I provided the above portion of this article to it as context. It suggested, after some regurgitation of what I said to it:

So I asked "What are the "different types of financial services that are available to them"?" in reference to the previous response. And here is what it said:

In other words, worse than useless drivel

When it comes to giving good advice, conversational AI sucks. In fact, when it comes to giving any advice, this crap only goes one level deep. It has no concept at all of what the actual subject matter is. And that's the point.

That's how it works - and nobody who knows disagrees

To be clear, anyone who knows anything about AI, and in particular the conversational AI we see so dominantly present today, knows that it indeed has no concept at all. Of anything! There are no "concepts" involved in current conversational AI. There are just various forms of regurgitation. And that can look like know-how until you actually try to test it.

An expert

The US Federal courts identify experts as having knowledge, skills, training, education, and/or experience relevant to the matter at hand, and more so than that of the triers of fact (e.g., the jury/judge). Another way I put it is that the definition of an expert is someone who knows more than you do about it.

We rely on experts to advise us on important things. As we see you should not rely on conversational AI of this sort for anything important.

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