Happy Memorial Day from me and everyone here on the RiskHedge team.

The markets and our offices are closed in observance of the holiday, but I thought you might find my “how to” guide on using ChatGPT as your personal intern useful…

Below, I’ll share three easy ways ChatGPT can make your life easier starting today.

(Taken from this month’s issue of my Disruption Investor advisory...)

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ChatGPT has been “live” for less than six months… and it’s already transforming careers.

It gives you the tools to build fully functioning websites and games… even if you’ve never written a line of code in your life.

You can “hire” it as a lawyer… doctor… or dietitian to get valuable second opinions (folks have saved thousands of dollars doing this).

ChatGPT even rescued a dog’s life. Its owner told the AI their sick dog’s blood test and symptoms, and it correctly diagnosed the problem a “human” vet missed. The owner concluded: “I can’t image what medical diagnostics will look like 20 years from now.”

It’s clear AI is one of the most powerful technologies in history. And it’s already becoming a must-know skill.

So, let’s walk through three ways you can start using this chatbot as your personal intern today…

• Say “hello” to your new research assistant.

ChatGPT can turbocharge your research.

Say you need to read a book or a long article, but you’re pressed for time. Just ask ChatGPT to “read” it and summarize the main lessons and insights.

Here it is condensing Alexander Hamilton, an 800-page beast, into a few paragraphs:

Source: openai.com

AI is a master at quickly summarizing large amounts of text. I’ve used it to “read” dense academic papers and spit out the key findings. It does 90% of the work in 99% less time.

For this, I recommend using Microsoft Bing in the Microsoft Edge browser. Bing in “creative mode” uses GPT-4 (the premium version of ChatGPT), with the added benefit of being connected to the internet.

Open “chat” in the side panel of the browser, and it can read any website you have open:

Source: Bing

You can also paste whole articles into ChatGPT and ask it to summarize the main points. You can then “interrogate it” with follow-up questions.

Whether you’re a realtor pondering new markets to break into… an attorney researching case laws… or a personal trainer drafting meal plans for clients… ChatGPT can do a lot of the “heavy lifting” for you.

• Generate ideas for ANYTHING with ChatGPT.

Here’s a prediction for you: Within five years, someone will make a billion dollars from a business idea they got from ChatGPT.

GPT is an idea mill. It can help you generate concepts for startups… ad campaigns… wedding speeches… family vacations… even screenplays. You name it, GPT does it.

Here it is, dreaming up ideas for a European wine tour business:

Source: openai.com

I even asked GPT to create an ad campaign for an electrician in Florida.

Within 20 seconds, it had a plan ready. That’s a lot faster and cheaper than paying some “white shoe” Madison Avenue marketers to build a campaign for you.

Source: openai.com 

You can use ChatGPT to generate ideas for ANYTHING. Give it a try.

• Make learning fun again with this AI “teacher.”

I’ve been saying for a while now that education needs a major overhaul.

Packing 30 kids into a stuffy classroom and lecturing them for an hour is boring. Is it any wonder parents have to drag their kids out of bed on a Monday morning?

AI tools like ChatGPT can make school fun again.

Say you’re learning about World War II. Would you rather read from a dull textbook… or interact with ChatGPT playing the role of a soldier on the beaches of Normandy? I’m choosing GPT every time.

Source: openai.com

You can do this for any subject, from any point of view.

Of course, this is just one idea to help you get started. Think of “jobs” that take up a lot of your time. Maybe it’s a mundane office task or helping your kids with their homework. See if ChatGPT can lend a helping hand.

AI chatbots may seem like silly “toys” today, but so did PCs in the ‘80s… and the world wide web in the early ‘90s. Being an early adopter of those two technologies paid dividends over the next few decades.

• Before you start: learn to prompt.

ChatGPT works like an interactive Google.

To use it, visit chat.openai.com and create an account. You’ll see the “search bar” down at the bottom of the screen. Simply start typing there to interact with GPT.

The key to getting the most out of ChatGPT is learning to write good “prompts.” In other words, ask it the right questions.

Here are three tips on how to “learn the lingo” of ChatGPT… 

Be specific: Don’t ask GPT to “write an essay about the Vietnam War.” That’s too generic and won’t elicit the best reply. Instead, give it specific prompts.

Here’s an example:

“Write a 500-word essay about the Vietnam War from the perspective of an 18-year-old American soldier on his first deployment. Describe, with vivid details, what gunfights in the Mekong Delta were like. I want clear, real-life examples from various Vietnam documentaries. Write for a well-informed audience.”

Play with personas: AI chatbots don’t have personalities. But they can play the role of anyone. ChatGPT gives better answers when prompted to be someone else.

Say you want to know what causes inflation. Try out this prompt: “ChatGPT, what are the causes of inflation? Answer from the perspective of American economist Milton Friedman.”

You can also ask ChatGPT to take on the voice of a specific author or the style of a certain publication.

Prompt: “I want you to write a story about the history of AI in the style of The Economist. Come up with entertaining stories that are engaging and captivating for readers.”

Ask for help: Who knows how to get the most out of AI? ChatGPT.

If you want GPT to help you with something, ask it for guidance. Here’s one example:

Source: openai.com 

Bottom line: No matter who you are… or what kind of job you have… start offloading daily tasks to ChatGPT today.

I promise you won’t be disappointed.

Stephen McBride
Chief Analyst, RiskHedge