It is not even May, and already 2023 is the year of AI and as Bill Gates recently proclaimed, the age of AI has begun. We recently discussed how ChatGPT could be a game-changer in personal finance. We also demonstrated Retirement Planning with AutoGPT and pointed out that the future of Investment advisory is informal.
Readers may also recall that we have developed AI-based chatbots trained on our articles.
- A version from anywebsite.ai (trained on more than 2000 freefincal articles)
- A chatbot from docsbot.ai (trained on 1000 freefincal articles)
- A Q and bot also from docsbot.ai (trained on 1000 freefincal articles)
Readers want full-fledged answers to specific investment questions (e.g. best stocks to invest in etc.), which has dampened our initial plans to deploy these bots immediately site-wide. We are currently working on developing these agents with small and specific training data.
That said, the width and depth of AI’s utility in financial services are limitless. It can compose text and create video and audio content based on that text (of course, it can also compose original audio and video from text prompts, but that is for another article!).
AI can quickly create a podcast based on existing text content. We used Wondercraft.ai to turn two of our articles into podcasts.
Get free money management solutions delivered to your mailbox! Subscribe to get posts via email!
🔥Enjoy massive discounts on our robo-advisory tool & courses! 🔥
The first attempt was based on Why we must invest in relationships for successful retirement planning and using the app’s trial version.
The app rewrites the article with an introduction and a body. It is important to verify the accuracy of the draft before publishing. We did not do this with the first version; thankfully, there were no errors.
We sought feedback from social media, and many feel that the AI voice felt more human than ever, although not fully up to the mark. Many also wanted my voice instead of a Western accent.
So in our second attempt, we chose RIL Demerger: Curation risk in passive investing. The text only needed minor changes. This time I used my voice as an avatar. The app required sixty seconds of my speech to create this.
So I read from this article: Is it time for performance-linked fees in active mutual funds?
This was then fed to the app to create the podcast.
The output still does not feel desi but is probably better than the earlier attempt. We request readers to listen to these episodes and tweet/email their feedback to us. You can also consider following the channel to keep track of future episodes.
Imagine a journalist writing a story. Once it is ready, it can be sent to a podcast team and a YouTube team to immediately create audio and video content (more on this later!) for publication. The reach can be immense and immediate.
Many financial advisors are extremely erudite but media-shy. They can use these mean to create content and showcase their expertise to potential clients.
As Shankar Gurav pointed out in the Facebook group Asan Ideas for Wealth, we will soon begin to question whether the voice we hear in a podcast belongs to a human or an AI!
🔥Enjoy massive discounts on our courses and robo-advisory tool! 🔥
Use our Robo-advisory Excel Tool for a start-to-finish financial plan! ⇐ More than 1000 investors and advisors use this!
New Tool! => Track your mutual funds and stocks investments with this Google Sheet!
- Follow us on Google News.
- Do you have a comment about the above article? Reach out to us on Twitter: @freefincal or @pattufreefincal
- Join our YouTube Community and explore more than 1000 videos!
- Have a question? Subscribe to our newsletter with this form.
- Hit 'reply' to any email from us! We do not offer personalized investment advice. We can write a detailed article without mentioning your name if you have a generic question.
Get free money management solutions delivered to your mailbox! Subscribe to get posts via email!
Explore the site! Search among our 2000+ articles for information and insight!
About The Author
Dr M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over nine years of experience publishing news analysis, research and financial product development. Connect with him via Twitter or Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! ⇐ More than 3000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter what the market condition is!! Watch the first lecture for free! One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Our new course! Increase your income by getting people to pay for your skills! ⇐ More than 700 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts you and pays you! (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!
Our new book for kids: “Chinchu gets a superpower!” is now available!
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Want to check if the market is overvalued or undervalued? Use our market valuation tool (it will work with any index!), or you buy the new Tactical Buy/Sell timing tool!
We publish monthly mutual fund screeners and momentum, low volatility stock screeners.
About freefincal & its content policy Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified from credible and knowledgeable sources before publication. Freefincal does not publish any paid articles, promotions, PR, satire or opinions without data. All opinions presented will only be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
- Twitter @freefincal
- Subscribe to our Youtube Videos
- Posts feed via Feedburner.
Our publications
You Can Be Rich Too with Goal-Based Investing
Published by CNBC TV18, this book is meant to help you ask the right questions and seek the correct answers, and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want
This book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at a low cost! Get it or gift it to a young earner.Your Ultimate Guide to Travel
This is an in-depth dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, and how travelling slowly is better financially and psychologically with links to the web pages and hand-holding at every step. Get the pdf for Rs 300 (instant download)