#66 A looming AI-financial crisis

From market meltdowns to matchmaking, today's AI is not just in the future; it's in our financial headlines, our dating apps, and even how we Zoom. In this issue, we explore how AI's promises and pitfalls are more than just tech talk—they're shaping our daily realities. Let’s dive in.
 

In today’s newsletter:

• Hottest stories: AI will be at the center of next financial crisis, Love in the age of AI, and Zoom’s updated AI training policies

• TL;DR Rundown: These women warned us, chat with Jesus, and AI spotting wildfires

• Tool of the day: Interact with your PDFs on Mac

HOTTEST STORIES 
Today’s biggest stories if you’re in a rush 

SEC warns AI will be at the center of the next financial crash 

SEC chair Gary Gensler recently highlighted a pressing concern in the finance realm: the unpredictable nature of AI. He's sounding the alarm on AI-driven "black box" trading algorithms that could, unchecked, lead to a market tumble. What's more? The very rules we set might be unintentionally pushing uniform trading patterns.

It's not just about erratic trading. A significant portion of AI is tasked with determining creditworthiness. The catch? The opacity of these systems makes it challenging to discern if they're discriminating. Gensler's perspective is clear-cut: with the rise of deep learning in finance, potential regulatory blind spots are cropping up, increasing systemic risks. One solution on the table? Rethink the financial buffers for institutions leveraging AI.

A future with AI in finance is inevitable, but caution remains key.

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Love in the age of AI

The dating app scene is undergoing a tech makeover, with AI stepping into roles you might not expect. Big players like Tinder and Hinge are embedding AI into their platforms, while newcomers like Blush and Teaser AI are reshaping how we approach virtual romance. Some of these apps are getting crafty, using AI to analyze personality traits and even physical preferences to play cupid more efficiently. Others? They're your modern-day wingman, suggesting witty responses to catch your match's attention.

A 2023 Pew Research study reveals a mixed bag: while half of young adults have dabbled with dating apps, nearly as many express frustration with ghost chats and the unending swipe cycle. Proponents of AI-enhanced dating believe that smarter algorithms might be the key to deeper connections and less loneliness.

However, this digital romance era isn't without its quirks. Ever wondered if that smooth chat from your match was AI's handiwork? Dmitri Mirakyan, a pioneer in the AI dating sphere, likens using AI for conversation to leveraging a word processor for novel writing. It's just another tool in the modern dater's kit, helping them connect more authentically and creatively.

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Zoom’s AI training policies take a U-turn

Zoom's in the limelight again, but not for reasons you might expect. After a ripple of concern over their terms of service (TOS), which seemed to give Zoom free rein over customer video content for AI training, the company's taken a step back. They've updated their TOS to assure users they won't be dipping into video calls or presentations for generative AI training.

To clarify the air, they declared, "Zoom does not use any audio, video, chat...or other communications to train our or third-party artificial intelligence models". Additionally, in-app notifications have been tweaked to reflect this stance.

Still, Zoom holds rights to "service-generated data," which encompasses data gathered during user interactions with their platform. Zoom isn't shying away from AI, though, with their recent features like Zoom IQ Meeting Summary and Team Chat Compose, designed to make virtual meetings smoother. It's now up to account owners and admins to decide if they want to opt-in to these features.

GIVE US A CLICK AND TAKE YOUR PICK  
A gentleman’s agreement 

• How to get rich with AI

• Real or AI?

TL;DR RUNDOWN
Listicle of what else is happening today 

Women warning: This group of women was warning us all about AI, well before the ChatGPT hype.

BlasphemyGPT: A new AI app lets users “text with Jesus.” Some people love it, saying it deepens their understanding of biblical texts. Others, who believe in those same biblical texts, call it blasphemy. Guess it all boils down to what one believes, now, doesn’t it?

Accelerated innovation: These past twelve months have seen decades’ worth of developments across law and policy in the areas of AI and ML - and it’s still no where near enough.

Talent management: The two-sided coinery of AI in talent management and HR.

Dot-com bubble deja vu: The AI mania seen over these past six months is incredibly reminiscent of the dot-com bubble of the late 90’s. Leading the charge is Nvidia, which has seen its stock triple this year - leaving investors wondering whether or not they can deliver on all the hype.

Wildfire spotting: California firefighters are using AI to help spot wildfires, using footage from across the state to alert first responders when to mobilize.

Language diversity: Stability AI just unveiled Japanese StableLM Alpha, which marks a leap forward in Japanese generative AI potential.

Ethical hacking: Las vegas hosted more than 2,000 competitors in an ethical hacking challenge to try and make AI chatbots go wrong to attempt and identify flaws and pitfalls.

TOOL OF THE DAY 
AI tools we’ve used, loved, and recommend above all others 

Today’s tool is pdfpals.com.

This one’s for the Mac users. With no limit of file sizes, pdfpals.com lets and Mac user interact with a PDF, asking for document summaries, highlighting the most important passages, and extracting pertinent information. Very useful.

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