Speaker 1: Welcome to How Do They Afford That, the podcast that
Speaker 1: peaks into the financial lives of everyday Australians. I'm Uncale Thompson.
Speaker 1: I'm an author and the co host of the podcast
Speaker 1: Fear and Greed business News. As always, I'm with Cannon Campbell,
Speaker 1: financial planner, founder of Sugar Mama TV, the financial literacy
Speaker 1: platform which you'll find on YouTube, podcast books, Instagram, threads, TikTok, keynotes, speeches,
Speaker 1: just say keynote speeches.
Speaker 2: Just then, No, you said keynote. I heard it. Oh god,
Speaker 2: I'm clear, Okay, all.
Speaker 1: Right, I wish I hadn't drawn attention to it. Now. Hello, Canna,
Speaker 1: good morning, how are you? I am going well? Today
Speaker 1: we are talking about chat GPT, one of our favorite topics.
Speaker 2: I have mentioned in previous episodes that I'm in a relationship,
Speaker 2: a complicated relationship with chat GBT.
Speaker 1: Well, I want to explore the depths of that relationship
Speaker 1: today because I've been seeing a lot of posts online.
Speaker 1: Just the look on your face just then, thought you
Speaker 1: thought I was going somewhere inappropriate.
Speaker 2: Didn't you. No, honestly, no, No, that's your mind that's
Speaker 2: in the gutter, not mine.
Speaker 1: Fair I'll take that a lot of talk lately about
Speaker 1: chat gpt as you would.
Speaker 2: Expect, Oh yeah, ai is viral.
Speaker 1: It's huge, but in particular how it can manage your budget.
Speaker 1: A lot of people talking about on Instagram and TikTok
Speaker 1: and everything that they're using chat gpt to manage their
Speaker 1: household budget. So I'm curious does it work? How does
Speaker 1: it work? Should we all be doing it? These are
Speaker 1: the questions I'm going to ask you. Let's start with
Speaker 1: the very basics, though, if we may, can it actually
Speaker 1: help or is this just a gimmick?
Speaker 2: No, it can help, It really can, but it's I
Speaker 2: would say, a tool to assist you in getting started
Speaker 2: is not actually the complete solution, and it can definitely
Speaker 2: help create awareness in your spending. But most importantly, it
Speaker 2: can actually provide you a structure, which is really valuable.
Speaker 2: If you're someone who knows you've got to do a budget,
Speaker 2: keeps putting it off and feels completely overwhelmed. So this
Speaker 2: will literally within seconds, create a structure for you to
Speaker 2: get started.
Speaker 1: Okay, what I'm going to do. I want to get
Speaker 1: a bit more of an understanding of how it all works,
Speaker 1: and then a little bit later on we're going to
Speaker 1: do a little bit of a demo. And I've done
Speaker 1: a demo too, and we're going to put it to
Speaker 1: the tests.
Speaker 2: I tested it as well.
Speaker 1: Oh great, we have a budget battle. We can make
Speaker 1: them fight. What are the kinds of things then? Is
Speaker 1: it just structural? Is it just going hey, I need
Speaker 1: to kind of figure out how this is all going
Speaker 1: to fit together. Is it just a structural thing? Is
Speaker 1: it personalized kind of how much detail or is it
Speaker 1: just the fact that you've got to put more detail
Speaker 1: in in order to get something more detailed out.
Speaker 2: So the prompts are key, and the more information you
Speaker 2: can share with chat gibt, the better the content or
Speaker 2: the solution that it's going to give you back. So
Speaker 2: you know, you can get it to create like a
Speaker 2: weekly budget or a monthly budget. It can also dump
Speaker 2: everything into an Excel spreadsheet or even a Google sheets,
Speaker 2: which makes it really easy to get started. It can
Speaker 2: also help categorize your spending habits, so you can put
Speaker 2: you know, all your clothing, so you might have like
Speaker 2: sports clothing, kids clothing, uniforms. It can actually group them
Speaker 2: all together so you can really hone in and see
Speaker 2: where you're spending money. And it can also help you
Speaker 2: consider or analyze which budgeting methods you know that are
Speaker 2: quite popular right now that might be suited for you,
Speaker 2: such as you know, the envelope system or the fifty
Speaker 2: thirty twenty or the zero based budgeting rules, which we've
Speaker 2: spoken about on previous episodes, and it can really help
Speaker 2: you brainstorm different saving strategies and then project how you
Speaker 2: might be tracking for a particular goal. But you've got
Speaker 2: to put that goal obviously in there in the first place.
Speaker 1: Okay, I'll get to those questions that you should be
Speaker 1: asking the very first thing that you should be kind
Speaker 1: of putting to chat GPT in a sec. But I'm
Speaker 1: getting the vibe from you that it is probably more
Speaker 1: for beginners rather than someone who's already got an So
Speaker 1: you're you are an experienced budget Yeah, you are probably
Speaker 1: going to be better than chat GPT at this.
Speaker 2: Look. I had to go at putting our budget in
Speaker 2: and you can even actually copy and paste your transactions,
Speaker 2: like your bank transactions into chat GPT to help you
Speaker 2: do your budget, which is quite a cool little hack.
Speaker 2: But I put ours in and I was my I'm
Speaker 2: going to sound horrible, but I think the results I
Speaker 2: thought were pretty pathetic, and I thought they were fraught
Speaker 2: with danger. And that's my honest opinion, because you really,
Speaker 2: if you want to be good at your budget, you've
Speaker 2: got to make sure you can also stick to it
Speaker 2: to make it good. So then that's why I think
Speaker 2: it becomes very one dimensional. But I still think chat
Speaker 2: GPT is a great way to get started, particularly for beginners.
Speaker 2: So you would use it as your first draft to
Speaker 2: get started one hundred percent, But then you've got to
Speaker 2: build with detail and be incredibly intentional and informed from
Speaker 2: that point on, So it could potentially, I'm when I
Speaker 2: sort of undo the meanness by saying that it's a
Speaker 2: great tool to get started and create that awareness, and
Speaker 2: it could potentially, once you build from there, make you
Speaker 2: a bit of an expert budgeter.
Speaker 1: Okay, all right, I think we're now kind of figuring
Speaker 1: out the scope here. Really it is an introductory thing.
Speaker 1: It is more of set up the bones and then
Speaker 1: you pat it out yourself.
Speaker 2: Yes exactly.
Speaker 1: We will in a minute do that full demo because
Speaker 1: I'm so intrigued. I want to see where the problems are.
Speaker 1: When you say that it's pathetic, I want to know
Speaker 1: what assumptions it made that were wrong or what it
Speaker 1: told you that it's just not feasible, that kind of thing.
Speaker 1: So we'll get to that in a minute. All right,
Speaker 1: if we are just coming into it as using it
Speaker 1: for a starting point, Okay, where do we start? What's
Speaker 1: the first thing that we should be asking it? Is
Speaker 1: it putting our overall householding come in and saying help me?
Speaker 2: Yes? So, first thing, I think you's be real clearest
Speaker 2: to what you want. You know, do you want a
Speaker 2: weekly budget? You're a monthly budget, or do you want
Speaker 2: to sort of map out the next three hundred and
Speaker 2: sixty five days? And then obviously you've got to put
Speaker 2: in as much information as possible, so you know income,
Speaker 2: you know, all your regular expenses, all your irregular irregular expenses,
Speaker 2: you know, even talking about when expenses are due. And
Speaker 2: you could also put in some goals if you like.
Speaker 2: I'd also be asking chat GPT when when you're doing
Speaker 2: your budget, what am I missing here? And you can
Speaker 2: ask questions like, you know, where can I save the
Speaker 2: most amount of money or where could I redirect these
Speaker 2: savings to help me with my goals? You know, try
Speaker 2: and not be too vague because you're only going to
Speaker 2: get vague responses back. But so the more information you
Speaker 2: can put in the better. And also I mean with
Speaker 2: chat GPT you can it gets to learn your voice,
Speaker 2: so the more if you've been using it for a while,
Speaker 2: it understands a little bit about yourself and what's important
Speaker 2: to you, so it can if you've been using chat
Speaker 2: GBT for a while, that can be too advantage improving
Speaker 2: the output that you get.
Speaker 1: As you've been saying this, it does strike me that
Speaker 1: there are some potential risks as well, security risks, and
Speaker 1: there have been a lot of warnings out there about
Speaker 1: using chat GPT, but almost trusting it too much. It
Speaker 1: is not a financial planner. It's not someone who basically
Speaker 1: is sworn to secrecy and will protect your confidentiality. That
Speaker 1: you are putting information in there, that essentially you are
Speaker 1: providing it to a public company, and that it is
Speaker 1: not secure what you're putting in there, so you should.
Speaker 1: You are fine to put in broad information like I
Speaker 1: need a weekly budget, and this is how much I
Speaker 1: spend on my mortgage, and this is how much money
Speaker 1: I'm making a month, for instance, But you would never
Speaker 1: put in tax file here's my.
Speaker 2: Bank account detail exactly. Absolutely going to be really like
Speaker 2: common sense, but also be smart because it can be hacked,
Speaker 2: and you know, as you I know, it could definitely
Speaker 2: become public, so you've obviously got to be smart about that.
Speaker 1: But de identify it essentially, take the identifying details out exactly.
Speaker 2: And I did a bit of you know, I obviously
Speaker 2: ran my own budget through it, and then I jumped
Speaker 2: online and I went down a bit of a rabbit warren.
Speaker 2: But I found quite a few people who had been
Speaker 2: doing budgets through chat gpt, and a lot of them
Speaker 2: said that there were some mathematical errors. Oh dear, so
Speaker 2: and it does have that, It does have that disclosure,
Speaker 2: you know, check you know, the evidence, check the facts.
Speaker 2: You know, chat gpt does have errors, and it did.
Speaker 1: Okay, I could expect logic errors, reasoning errors. You cannot
Speaker 1: excuse mathematical errors when it is a computer, right, That
Speaker 1: is the one thing that a computer should be able
Speaker 1: to do without error.
Speaker 2: This is what I not for my person experiences. This
Speaker 2: is what I was reading on other forums of other
Speaker 2: people who had had to go and had frustrations with it.
Speaker 1: And all right, I'll call my jets.
Speaker 2: I will admit most people were overly impressed with the
Speaker 2: quality of the budget that was created, but they were
Speaker 2: happy to use it to help them get on their way.
Speaker 1: So the key limitations then are it is not going
Speaker 1: to be particularly complex what it puts out and not
Speaker 1: super tailored to you exactly.
Speaker 2: So there are a few nuances, and it doesn't understand
Speaker 2: you know how you and your family use money and
Speaker 2: how you like to use money, and you know where
Speaker 2: your particular values and boundaries are. It's not going to
Speaker 2: know those intimate details.
Speaker 1: Okay. In that case, it sounds like you are a
Speaker 1: little lukewarm on the idea.
Speaker 2: I think it's a little bit pathetic, but I think
Speaker 2: it's you know, for anyone that is overwhelmed and needs
Speaker 2: to do a budget and it just keeps putting it
Speaker 2: off and just procrastinating and burying out the sand. No,
Speaker 2: I think it's a great tool for them. Okay, But
Speaker 2: if you're someone who has a budget and is the
Speaker 2: problem isn't actually doing the budget but sticking to a budget,
Speaker 2: the chatty is not going to help you unless you
Speaker 2: start being really particular and saying, all right, here is
Speaker 2: my budget. Where am I going wrong? You know? And
Speaker 2: that's when it can potentially look at your current insurance
Speaker 2: and compare different policies, or it can look at you know,
Speaker 2: solutions to help you cut down on groceries. So it
Speaker 2: can I guess it can help you hone in on
Speaker 2: particular areas if you're really clear about where you need
Speaker 2: help within your budget. But it's not going to create
Speaker 2: a finely tuned budget system. And I always say this
Speaker 2: like a budget is really just a flaky piece of
Speaker 2: paper unless you are intentionally sticking to it, and you
Speaker 2: are reviewing it and on a regular basis, and you
Speaker 2: are also cross referencing it on a regular basis, you know,
Speaker 2: against your transactions. It is really just a piece of
Speaker 2: a bit of an intention that you've put on paper.
Speaker 2: You know, you need to do the hard work. I mean,
Speaker 2: chat TPT is not going to make sticking to your
Speaker 2: budget for you. You've got to do that. So you've got
Speaker 2: to go to the supermarket knowing I've got a price
Speaker 2: limit as to how much I can spend or you
Speaker 2: know what, I can't afford to buy that this month
Speaker 2: because I've already all to sern amount of money to
Speaker 2: a clothing allowance in my budget. So you know that's
Speaker 2: not chat GPT that's you. And this is the thing
Speaker 2: that I find annoying about chat GPTs. If you are
Speaker 2: really genuinely serious about doing a budget and doing it
Speaker 2: properly and taking your financial will being seriously. Some of
Speaker 2: the best insights, awareness wake up calls are hard moments,
Speaker 2: whatever you want to call it, actually come from sitting
Speaker 2: down for a couple of hours with your laptop open
Speaker 2: in front of you and your bank accounts and looking
Speaker 2: at you know, printing off your statements and sitting with
Speaker 2: there with a calculator and a piece of paper or
Speaker 2: in a journal or you know, or plugging into Excel spreadsheet.
Speaker 2: That's it's Yes, it's borrowing, Yes it's dull, but that
Speaker 2: is I think the most amazing experience to go through
Speaker 2: because you're doing the proper deep working and chat GPT
Speaker 2: can tell you, Michael, you spend way too much money
Speaker 2: at JB hi FI. You know, you can look at
Speaker 2: all how much money you've spent on your credit card statement,
Speaker 2: for example, but sometimes you discovering that yourself has a
Speaker 2: far greater impact and creates a bigger and better shift
Speaker 2: for you to go. You know what, I remember that moment,
Speaker 2: that aha moment where I was confronted with the reality
Speaker 2: of spending too much money on electronic goods. So there
Speaker 2: I am right now walking into JB High Fine, going
Speaker 2: to make a quick turn around it. I don't feel
Speaker 2: like the impact is going to be a strong one.
Speaker 2: You use chat GBT, probably sounding a little bit too
Speaker 2: philosophical for you know, a morning, but.
Speaker 1: I feel like I've just received a sermon at the
Speaker 1: Church of Canna. It's also passionate about budget. No, no,
Speaker 1: don't apologize for that. That is fantastic. This is this
Speaker 1: is good. That's what I was looking for. I still
Speaker 1: want to pick apart a chat GBT budget, though. If
Speaker 1: you're willing to die, let's do it. Well, let's take
Speaker 1: a very quick break and then we'll come back and
Speaker 1: you can just fire up that passion once again and
Speaker 1: rip it to pieces. Canna. We are looking at chat
Speaker 1: GP and whether it can fix your budget, whether it
Speaker 1: can manage your budget, whether it can get you started,
Speaker 1: and so far, yeah, yeah, yeah, it probably can get
Speaker 1: you started. Is what you've said, that it can provide
Speaker 1: a little bit of a framework, but really it is
Speaker 1: down to you to do the work or you can
Speaker 1: get it to look at particular problem areas and try
Speaker 1: and figure out where you were going wrong and come
Speaker 1: up with some hints and things. But nothing is quite
Speaker 1: going to replace the time that you spend analyzing it
Speaker 1: yourself and looking at it. Because you know your life.
Speaker 1: A computer doesn't know your life exactly.
Speaker 2: Why couldn't I have just said that, like the way
Speaker 2: is I hopped on for so long?
Speaker 1: No, that was good. I enjoyed it. I just I
Speaker 1: was getting lost in that. Yeah, I've got a fascination
Speaker 1: with budgeting, and so I.
Speaker 2: Like budging and multiple bank accounts.
Speaker 1: Yes, yeah, it didn't sales any good at either of
Speaker 1: those things. So a demo. Let's do this. You tell
Speaker 1: me where it works where it doesn't work. So we're
Speaker 1: putting into CHAT two pt A, let's go with a budget.
Speaker 1: A monthly budget for a couple two kids doesn't matter.
Speaker 1: I suppose whether they're married or not. I don't know
Speaker 1: how old. How much detail do you need to give?
Speaker 1: Do you need to give names?
Speaker 2: Chat GPTs is interested whether you're married or not.
Speaker 1: This is Philip and Charlotte, and they have two kids
Speaker 1: named Roberta and Steve. They've chosen kids names straight out
Speaker 1: of the eighties, apparently, and anyway they earn what's a
Speaker 1: good figure? Should we say, what do you reckon one
Speaker 1: hundred and twenty one hundred and twenty, one hundred and
Speaker 1: twenty each or.
Speaker 2: One hundred and twenty combined, Because these are important details.
Speaker 1: Let's say one hundred and twenty. Let's say it's one
Speaker 1: full time and one part time.
Speaker 2: Okay, God, look at us just but these are the details.
Speaker 2: I mean, particular couples manage money differently. You know, if
Speaker 2: you've got two people working, they might split expenses. So
Speaker 2: these are little things that you know, this is where
Speaker 2: the nuances come in.
Speaker 1: I guess okay, all right, So in that case, earning
Speaker 1: one hundred and twenty thousand dollars combined, let's say ninety
Speaker 1: thousand full time for one and thirty thousand part time
Speaker 1: for the other. Okay? Happy paying to two hundred dollars rent? Ye? Okay?
Speaker 1: Wanting to save for a holiday, they want to pay
Speaker 1: it down some credit card debt?
Speaker 2: How much credit card are you?
Speaker 1: Remember?
Speaker 2: Were going to put information in.
Speaker 1: Oh, what's a good figure? Five thousand dollars?
Speaker 2: Yep?
Speaker 1: Is that a good yeah?
Speaker 2: I think that's just done of the average about the
Speaker 2: Australian Australian has.
Speaker 1: Okay, yeah, I love that. We're just making this up
Speaker 1: along the way, and it feels like I'm trying to
Speaker 1: pass a test with you. Just make it up and
Speaker 1: put in whatever we want, all right. We whacked that
Speaker 1: into chat GPT. Okay, it has come back saying that
Speaker 1: here is a suggested monthly budget rent two thousand and
Speaker 1: two hundred dollars groceries one thousand dollars. That's not on.
Speaker 1: That's that's not accurate. That's not okay. For a monthly
Speaker 1: budget thousand dollars two hundred and fifty dollars a week,
Speaker 1: four people.
Speaker 2: Less than because it's four point two.
Speaker 1: Five so let's twenty just over two hundred. Yeah, two
Speaker 1: hundred dollars a week for grocery. Okay, Chat GPT, you
Speaker 1: are dreaming next utility is and internet it reckons three
Speaker 1: hundred and fifty bucks.
Speaker 2: No, that's that's way too low.
Speaker 1: Okay, Transport fuel regi earl, et cetera six hundred bucks.
Speaker 1: We're kind of asking chat GPT to do the impossible.
Speaker 2: Letters.
Speaker 1: We didn't say how far the old mate has to
Speaker 1: drive or or either of them, or where the kids
Speaker 1: go to school and how they get there all that
Speaker 1: kind of thing, and they.
Speaker 2: Might have a pet, but they have to include pet
Speaker 2: food and stuff like that.
Speaker 1: For their insurance. It says three hundred dollars. Kids activities
Speaker 1: and school four hundred dollars. Again, this is plucked figures
Speaker 1: out of nowhere because we didn't say whether it was
Speaker 1: private school, whether there was extra.
Speaker 2: Expenses, and we haven't added in there whether we live
Speaker 2: in now it's you and I are the married couple
Speaker 2: with our two children, see better, but it hasn't that
Speaker 2: we haven't actually been shared though, whether we live regionally
Speaker 2: or in a major city, because they're very two very
Speaker 2: different living expenses as well.
Speaker 1: And entertainment and dining three hundred bucks. That seems pretty
Speaker 1: that's that's I mean for a family that's on a budget,
Speaker 1: that's a pretty good amount for allocated to entertaining and
Speaker 1: dining out. Debt repayment five hundred dollars per month on
Speaker 1: the credit card. I can I can see the look
Speaker 1: on your Okay, you are groaning, you are cringing at that.
Speaker 2: That's a really unattractive for people to listen to it.
Speaker 1: Yes, but is that because this shows the priorities of
Speaker 1: this budget that it is not a This is not
Speaker 1: a budget that's built around trying to pay down toxic debt.
Speaker 2: And if you think about, you know, credit card debt,
Speaker 2: the interest rate applied can be up to twenty two percent.
Speaker 2: So if you've got five thousand dollars in credit card debt,
Speaker 2: you know you're still having to spend a lot of
Speaker 2: wasting a lot of money on interest and taking your
Speaker 2: sweet ass time and actually paying that off. So that's
Speaker 2: where I get a little bit concerned. And also, then
Speaker 2: what is it doing to your ability to borrow money
Speaker 2: further down the track if you're taking your time to
Speaker 2: pay off credit card?
Speaker 1: It's got three hundred dollars for holiday savings. That's pretty good. Yeah,
Speaker 1: putting that much in emergency fund savings, that's good. Three
Speaker 1: hundred and fifty dollars. Chat CHPT says we didn't mention
Speaker 1: saving for an emergency fund in the prompt. I mean
Speaker 1: we gave it. I'm impressed, So that's good. That's a
Speaker 1: good kind of fundamental. And then finally two one hundred
Speaker 1: dollars miscellaneous, and then it says this total is around
Speaker 1: six and a half thousand dollars a month, which fits
Speaker 1: within your take home income. After tax. Okay, give it
Speaker 1: a mark out of ten five five.
Speaker 2: Yeah. Look, I like that it's got us started and
Speaker 2: doing a budget together. I like that it's really neat
Speaker 2: and compartmentalized, so it's easy to understand and it's easy
Speaker 2: then to also review. I love that it's addressed the
Speaker 2: savings like holiday savings, and the debt repayment, even though
Speaker 2: it's a questionable the debt repayment. And I like that
Speaker 2: it forces you to see where you know, money could
Speaker 2: go into different buckets potentially with your different spending categories. However,
Speaker 2: and this may be us to blame. It's way too generic.
Speaker 2: You know, real households have quirks. You know, I have
Speaker 2: to pay for childcare. You might have different medical bills
Speaker 2: than me. You know, birthdays? Has it factored in? We
Speaker 2: you know we might have a wedding anniversary coming up?
Speaker 1: Or I how this is now us? And how again?
Speaker 1: I don't even remember who we said the All I
Speaker 1: remember is Roberta and Steve, the two the two kids.
Speaker 2: Anyway, carry on, you know what about sports, like and
Speaker 2: some sports are really quite cost effective, Like you're a
Speaker 2: tennis player, other than a tennis bracket and some balls
Speaker 2: it's pretty economical.
Speaker 1: In dresser horses cost very expensive.
Speaker 2: I think the utilities at you know, the internet and
Speaker 2: gas electricity combined, that seemed a little bit low. You know,
Speaker 2: I think most people spent about at least seventy dollars
Speaker 2: a month on internet, so that estimate's very low, and
Speaker 2: it hasn't considered anything for sort of I guess it
Speaker 2: had the miscellaneous, But where's the consideration for spontaneous expenses,
Speaker 2: you know, like you're having a kid's birthday and you
Speaker 2: need to pay for that, or you're one that gets
Speaker 2: missed on people's budgets. For all the time when I'm
Speaker 2: taking people's budgets is kid's birthday presents, And that always
Speaker 2: knocks people for six because I'll have They'll say, oh god,
Speaker 2: we blew our budget. You know, my two of my
Speaker 2: kids both had two sets of birthday parties, and before
Speaker 2: I knew it, I was spending a fortune on you know,
Speaker 2: the locals toy shop, buying all these gifts. So it
Speaker 2: doesn't kind of factor with the reality of life. And
Speaker 2: you know, I think there's the numbers, how realistic one
Speaker 2: thousand dollars a month for groceries. Again, it boils down
Speaker 2: to you your diet and does that include you know,
Speaker 2: a takeaway maybe once a month and also no two
Speaker 2: weeks are the same, like depending on activities, what's going on,
Speaker 2: whether you've got people coming over, whether you're going out,
Speaker 2: whether you have your own vegetable garden at home. Like
Speaker 2: it's missing it, it's missing some fundamental details. But we
Speaker 2: can still work with this, I'd say, So.
Speaker 1: It's missing the grit that it needs kind of thing
Speaker 1: it's which is really this is a good lesson you
Speaker 1: are You only get out what you put in to it.
Speaker 1: So if you put in detail that you're going to
Speaker 1: get detail out. So if you're going to do this,
Speaker 1: put in enough detail that it's actually going to give
Speaker 1: you something productive. Be specific on what you are currently spending, on,
Speaker 1: what your lifestyle circumstances are. Leave the kids' names out
Speaker 1: of it, Leave the kind of identifying details out of it.
Speaker 1: Give them kind of pseudonyms, call them if you must,
Speaker 1: Steve and ROBERTA. And you are going to get slightly
Speaker 1: better results. On another occasion, if you'd be open to it,
Speaker 1: I want to talk to you as well about chat
Speaker 1: GPT developing a theme here but for investing, because I
Speaker 1: would love that it has become a major, major thing.
Speaker 1: And there was some data released recently by Charted Accountants
Speaker 1: Australian New Zealand that said nearly fifty percent of Australian
Speaker 1: investors are now using artificial intelligence for financial advice as
Speaker 1: it relates to investing, which is so high.
Speaker 2: You know what. I got a phone call last week
Speaker 2: asking if I could come and have a chat about
Speaker 2: AI and financial planners and I was like, I couldn't
Speaker 2: do it. But I was like, what is it all about?
Speaker 2: And they're like, oh, we've got We've seen some new data.
Speaker 2: Most financial planners are now using chat GPT to do
Speaker 2: financial plans.
Speaker 1: It feels like there's another episode in Sure Okay, all right,
Speaker 1: thank you for casting your eye over these budgets and
Speaker 1: delivering your withering assessment of chat GPT's ability. Where do
Speaker 1: we find you if we want more information?
Speaker 2: Well, the first and best place to get a hold
Speaker 2: of me is on Instagram at Sugar Mama TV, or
Speaker 2: you can reach out directly to me on my personal
Speaker 2: account Canna Campbell Official.
Speaker 1: And you can hear me every day with Sean Aylmer
Speaker 1: on Fear and Greed Business News. You can use Thank
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