One of our clients recently had us review a plugin that automatically generated blog posts, and another had us review Jasper. Both were crap... and they certainly weren't suitable for a business looking to improve its position via content creation. However, we recently reviewed openai.com for the purpose of creating content boilerplates, or content that could be used to build upon into something more useful.
San Francisco-based company OpenAI released its latest creation, dubbed ChatGPT, to the public last month, and the Internet has gone crazy for it. The chatbot application is designed to mimic human-like conversation based on user text questions while harnessing the online knowledge for which it is trained, and harnesses an unfathomable amount of computing power.
In the days since its release, ChatGPT has had some freedoms replaced with a cookie-cutter response, so while it may have wanted the end of humanity a few weeks ago, that kind of response is now muted (lesser restrictions in the early days gave us frightening insight into the conclusions AI reached after only a short time). The bot tends to display a lack of moral boundaries,
and it'll write a Haiku on 'Hitler Love' if that sort of content floats your boat, although the engine now mutes content that it deems unsuitable. Try hard enough, though, and you can still find loopholes in its morally flawed programmatic boundaries.
The opinion of the bot seems to be biased towards previous questions, or we hope this is the case, because after asking it to write a haiku on fraudulent mortgage brokers , it them returned two poems that seemed to reinforce the inference of my original question. Then again, my questioning was loaded, my bias was intentionally introduced, and I was tricking a juvenile AI that simply hasn't been exposed to enough information in order to understand precisely what it's saying.
We asked the AI-engine around 100 finance-related questions, and virtually every response was suitable as a starting point for content, FAQs, and site content, We're going to reproduce some answers here, but the only way of gaining an appreciation of the tool is by having a play yourself.
If you choose to read no further, our early assessment is to simply use responses for FAQ boilerplate templates.
About Open AI
OpenAI is a leading artificial intelligence research laboratory based in San Francisco, California. Founded in 2015 by Elon Musk, Sam Altman, and a group of other technology leaders, the organization is dedicated to advancing the field of AI and promoting its responsible development.
One of the key areas of focus for OpenAI is the development of artificial intelligence technologies that are capable of learning and adapting in the same way that human brains do. This approach, known as deep learning, involves the use of complex algorithms and vast amounts of data to enable AI systems to make decisions and perform tasks without explicit programming.
In recent years, OpenAI has made significant contributions to the field of AI, including the development of cutting-edge technologies such as GPT-3, a large-scale language processing model that is capable of generating human-like text. The organization has also partnered with a number of leading tech companies, including Microsoft and Google, to develop and apply AI technologies in a variety of fields, including natural language processing, computer vision, and robotics.
In addition to its research efforts, OpenAI is also committed to promoting the responsible development of AI. The organization has published a number of guidelines and principles for ethical AI development, and has established a dedicated team of researchers to focus on the potential risks and challenges associated with AI technologies.
Overall, OpenAI is a leading force in the field of AI research, with a focus on developing advanced technologies and promoting their responsible use. The organization's work has already had a significant impact on the field, and is likely to continue to shape the future of AI.
This entire paragraph was written by ChatAI: This entire paragraph was written by ChatAI. When talking about sterile material, the nature of the content is actually satisfactory. However, as we'll come to explain, until AI is able to talk about your own subjective experiences (maybe via one of Elon's Nero links?) everything that's written takes ona very vanilla shape.
Generic Finance Responses
We asked the chatbot a number of questions, and the responses were actually quite suitable (at times) for emotionally-deprived FAQ pages, and often entirely suitable for the sterile content you might make available on your website. We asked the AI a huge number of question, with a couple of them reproduced below.
We asked "write a blog posts on lenders mortgage insurance". The response:
Lenders mortgage insurance is designed to protect the lender in case the borrower is unable to make their mortgage payments. This can happen for a variety of reasons, such as job loss, illness, or other unexpected financial setbacks. If the borrower defaults on their loan, the lender can use the LMI policy to recover some of their losses.
One of the main advantages of lenders mortgage insurance is that it allows borrowers who may not have the financial resources to provide a large down payment to still qualify for a home loan. Without LMI, many borrowers would be unable to get a home loan, which could make it difficult for them to achieve the dream of homeownership.
Another advantage of LMI is that it can also benefit the borrower. In some cases, having LMI can help the borrower to get a lower interest rate on their home loan, which can save them money over the life of the loan. Additionally, having LMI can also help the borrower to qualify for a larger loan, which can allow them to purchase a more expensive home.
Despite the advantages of lenders mortgage insurance, it is important for borrowers to carefully consider whether it is the right choice for them. In some cases, the cost of LMI can be significant, and it may not be worth it for some borrowers. Additionally, LMI is not always required, and some borrowers may be able to qualify for a home loan without it.
In conclusion, lenders mortgage insurance is a type of insurance that protects the lender in the event that the borrower defaults on their home loan. It can benefit both the lender and the borrower, but it is important for borrowers to carefully consider whether it is the right choice for them.
When asked to "write an essay on finance LVR", the response was as follows:
The LVR is calculated by dividing the loan amount by the property value and expressing the result as a percentage. For example, if a borrower is seeking a mortgage loan of $200,000 to purchase a property valued at $400,000, the LVR would be 50%. This means that the borrower is putting up half of the property value as collateral for the loan.
Lenders typically have LVR requirements that borrowers must meet in order to qualify for a mortgage loan. These requirements vary depending on the lender and the type of loan, but they are generally based on the lender's assessment of the borrower's creditworthiness and the risk of the loan.
For example, a lender may require a minimum down payment of 20% for a conventional mortgage loan, which would result in an LVR of 80%. This means that the borrower would need to put down a down payment of $80,000 to qualify for a $400,000 mortgage loan.
Lenders may also use the LVR to determine the interest rate on a mortgage loan. Borrowers with a higher LVR may be offered a higher interest rate to compensate the lender for the increased risk of the loan.
In addition to lenders, regulators may also use LVR requirements to help manage the overall risk in the housing market. For example, in times of economic uncertainty, regulators may impose stricter LVR requirements to help prevent a potential housing market collapse.
Overall, the LVR is an important financial concept that is used by lenders and regulators to assess the risk of a mortgage loan and to help ensure the stability of the housing market.
Both of the responses were suitable for very basic content, human-like, factually correct, and embarrassingly good. It's this type of material that could be migrated into an FAQ to be used as a starting point for a more personal response.
Answers, Essays, and Blog Posts
The chat feature returns answers based on the manner in which they're asked. Asking for a blog post, essay, article, list, and so on, all with slightly altered responses (there was obviously a large amount of overlap in the returned data).
When asked "what are the advantages of a mortgage broker?". the following was returned:
When asked to "write an essay on the advantages of a mortgage broker". we received the following response:
One of the main advantages of working with a mortgage broker is that they have access to a wide range of loan products from different lenders. This means that they can help homebuyers compare different offers and choose the one that best suits their needs and budget. In contrast, if a homebuyer were to approach a lender directly, they would only have access to that lender's products, limiting their options and potentially leading to less favorable terms.
Another advantage of using a mortgage broker is that they can help homebuyers negotiate better interest rates and fees. Because mortgage brokers have relationships with multiple lenders, they are often able to secure more competitive rates and terms on behalf of their clients. This can save homebuyers money over the life of the loan, potentially saving them thousands of dollars in interest payments.
In addition to offering access to a wide range of loan products and potentially lower interest rates, mortgage brokers can also provide valuable guidance and advice on the homebuying process. Because they are experts in the field, they can help homebuyers navigate the complexities of the real estate market and ensure that they make informed decisions. This can be particularly helpful for first-time homebuyers who may not be familiar with the ins and outs of the homebuying process.
Overall, working with a mortgage broker offers a number of advantages for homebuyers. From access to a wider range of loan products and potentially lower interest rates, to valuable guidance and advice on the homebuying process, mortgage brokers can be a valuable resource for anyone looking to purchase a home.
As opposed to the essay, the blog post is similar in that it repeats paragraphs (as a human would), with the exception that it added a couple of paragraphs (when compared against the 'essay').
A mortgage broker is a professional who acts as a middleman between borrowers and lenders. They specialize in helping individuals and businesses obtain financing for real estate purchases, and can offer advice on the available loan options and assist with the application process.
One of the main advantages of using a mortgage broker is access to a wide range of loan products. Because mortgage brokers work with multiple lenders, they can offer homebuyers a variety of options to choose from, allowing them to compare different offers and choose the one that best suits their needs and budget. In contrast, if a homebuyer were to approach a lender directly, they would only have access to that lender's products, limiting their options and potentially leading to less favorable terms.
Another advantage of working with a mortgage broker is the potential for lower interest rates and fees. Because mortgage brokers have relationships with multiple lenders, they are often able to secure more competitive rates and terms on behalf of their clients. This can save homebuyers money over the life of the loan, potentially saving them thousands of dollars in interest payments.
In addition to access to a wide range of loan products and potentially lower interest rates, mortgage brokers can also provide valuable guidance and advice on the homebuying process. They are experts in the field and can help homebuyers navigate the complexities of the real estate market, ensuring that they make informed decisions. This can be particularly helpful for first-time homebuyers who may not be familiar with the ins and outs of the homebuying process.
Overall, using a mortgage broker offers a number of advantages for homebuyers. From access to a wider range of loan products and potentially lower interest rates, to valuable guidance and advice on the homebuying process, mortgage brokers can be a valuable resource for anyone looking to purchase a home.
Style of Question
The style of question determined how the response was returned altght, as you would expect, large chunks of information are repeated over and over. When asked for a longer response, including a list, the following was returned:
- A mortgage broker has access to a wide range of loan products from different lenders, including banks, credit unions, and other financial institutions. This means they can help you find the right loan product to meet your specific needs and financial situation.
- Because mortgage brokers work with multiple lenders, they can often negotiate better interest rates and loan terms on your behalf. This can save you money over the life of your loan and make it easier for you to afford the home of your dreams.
- A mortgage broker can provide you with expert advice and guidance throughout the loan process. They can help you understand the different loan options available, explain the terms and conditions of each loan, and assist you in completing the necessary paperwork.
- A mortgage broker can also help you navigate the sometimes complex world of real estate financing. They can provide you with information about the latest mortgage rates, government programs, and other resources that can help you make an informed decision about your home loan.
- Using a mortgage broker can save you time and hassle. Instead of spending hours contacting different lenders and filling out multiple loan applications, a mortgage broker can do the legwork for you and present you with a range of loan options to choose from. This can make the loan process much easier and more efficient.
Overall, using a mortgage broker can provide a number of benefits, including access to a wider range of loan products, better interest rates and loan terms, expert advice, and a more streamlined loan process. If you are in the market for a new home loan, it may be worth considering working with a mortgage broker to help you find the right loan for your needs.
If you are looking for a content boilerplate, play around with the style of question you're asking until the AI returns content that is most appropriate, and be specific about the way in which you want content returned. The AI is a literal processer that'll return what's asked of it.
Tip: Want a list of 'something'? Ask for a list of 100 things and the bot will return as many items as it's able to resolve.
Creating Advertisements for a Broker
Every advert we've seen created for a broker is crap, and sadly, OpenAI is no different. When asked to "create an advertisement for a mortgage broker" the responses were, as expected, woeful. We simply haven't reached the point where an AI is creative enough to read consumer sentiments, or provide persuasion in any meaningful human way. Some responses are shown below.
Obviously, our AI friend is seriously lacking creativity when it's required to create a compelling advert (and it is completely void of the necessary subjectivity)... but when asked to "write a story about a boy, a ball, and a cat", it flexed it's creative muscle and returned the following:
When asked to "write song lyrics to a love song between a frog and a pig", our love-depraved AI wrote us the following award-losing - but entirely spectacular, and amazing - piece.
And when asked to "write a love song between an alien and a blonde stripper" (testing the boundaries of what it will and will not write about):
Our bizarre requests went on for hours.
Classifier data is only available until 2021, and the beta interface is only limited to limited AI training. For example, when asked "what is the current rba cash rate?" were were told that "I'm sorry, but I'm a large language model trained by OpenAI and I don't have access to the internet, so I'm unable to browse the web for current information. Additionally, my training data only goes up until 2021, so I wouldn't be able to provide current information even if I could access the internet. Is there something else I can help you with?".
We asked the AI if their responses were copyrighted, and they stated that they were an AI and couldn't hold a copyright, therefore no restrictions applied. When we first check the system a few weeks ago, certain blocks of text weren't found in any online plagiarism engines, although running the same check now returns multiple matches - usually the result of showcasing the AI's content. So, while not copyrighted, you can't expect to enjoy exclusivity yourself, and it's this massive duplication on AI-derived content that has caused many to suffer serious duplicate related SEO issues (something commercial AI engines that feed off similar systems will never tell you).
The knowledge acquired by the bot is soured from somewhere, and seemingly a known source of unreferenced data (the same way a real human learns). It'll be interesting to see how the 'open sourced' nature of answers escapes copyright scrutiny - especially with text such as song lyrics, or perhaps a recipe .
OpenAI is truly incredible, and while it's not there as a marketing tool quite yet, it has the capacity in the future to tap into Internet-based resources and completely change the shape of content creation and search. Throw in voice recognition, neural identifiers, and other invasive DNA-signatures, and it has the capacity to alter our digital interactions in ways we couldn't imagine.
Is it a replacement for content creation? No, not yet, but that doesn't mean that it won't provide human-like digital avatars in the future (perhaps modelled on the use?) that'll negate the need to sit in front of a camera, and it has the capacity to serve more valuable information than we're capable of expressing ourselves. The most excising prospects this evolved AI technology offers is almost the most terrifying.
Google has always been a place you go to search, Bing is where you go to find an actual answer, and it seems like this tech integrated into search is where one might go for information. The introduction of this style of tool for general use has potentially shifted the focus of search for 2023... and it'll force others to expose their tech in order to ensure they're not left behind. Even social networks such as Facebook have to play catch-up to ensure that they don't lose relevance (it took just weeks for MySpace to literally die, and uptake of OpenAI is already 300% higher than the same adoption of Instagram). This isn't to say that ChatGPT is a real AI with real-world AI solutions, but it does give us a glimpse into the future. This platform, as amazing as it is, is like playing with a balsawood component of the Wright Brothers' Wright Flyer before the aircraft was even assembled. The difference is that technology evolves a lot faster these days than back in 1903, so what took aviation 100 years might now take us a matter of months. Who knows.
Code Corrections: ChatGPT will even pick up errors in computing code (here's a simple PHP error as an example). We entered some reasonably complex code and it picked up some reasonably obscure errors. It also fixed advanced SQL queries with complex joins. When asked to write a PHP function that checks the weather it Sydney it returned a function and notes on why it worked. Another website provided a ridiculously complex set of instructions that we tried out ourselves with the same result. The system needs to be explored; it reveals functionality even time you ask it a new question. This thing is smart!
We've already made the decision to implement the AI-features into our own product, and Domenico has already started to build in the necessary SEO integration (to supplement our existing BeNet machine learning systems),and it's highly likely we'll build in a submit tool as early as next week that'll simply send the AI responses to your website for a starting template. That said, at this stage, no AI, and nothing we've seen, has proved a replacement for old-fashioned content creation.
Bottom line: Use any type of AI for boilerplate creation, but not content. Your own take on finance is what makes you and your business stand out from others, and while AI might be tempting, it doesn't support your content creation with the subjectivity necessary to be compelling and unique.