89: Michael Kollo on Artificial Intelligence

In episode 88 of the [i3] Podcast we speak with Dr. Michael Kollo about artificial intelligence and large language models such as chatGPT. We talk about their application to the institutional investment industry and discuss why Australia is so distrustful of AI. Please enjoy the show! Overview of Podcast with Dr. Michael Kollo 01:00 Getting involved in artificial intelligence 03:30 Australia doesn't trust AI, why is that? 06:30 AI in the investment industry; any edge is quickly adopted 08:30 If you are a super fund trying to communicate with a million members, then you have no choice but to use AI 13:00 Sometimes these large language models lie. Language models versus knowledge models. 15:00 Some of the upcoming new models are very powerful and potential chatGPT killers 18:00 The art of prompting; towards standardised interactions with AI 19:30 Generative AI is not forecasting any data points; it is forecasting language points 21:00 Gen Y has a 70 per cent use rate of chatGPT. Gen X and boomers; 60 per cent has never heard of it 23:00 What is to me the more interesting part is holding yourself to a higher level of questioning and reasoning 24:30 AI as the devil's advocate 27:00 AI in scenario modelling and risk management 30:00 Looking ahead, the way we might engage with computers will be less about clicking boxes and more about expressing ourselves. This might break a lot of marketing models 35:00 The impact of quantum computing on AI 40:00 AI in tackling the large problems