That’s a nice word-based profession you have there. Be a shame if somebody… disrupted it.
When you think about it, the internet is made from and filled up with letters and words. Google sends you to websites filled with words. TikTok is created by code - written with some numbers, but mostly words.
So this is a pretty big deal.
There’s a word-based engine that can write code and stories. Instantly. Open to the public. And you can use it right now.
Who else thinks it’s a big deal?
Microsoft. They invested $10 billion into its parent company, OpenAI, announcing it back in January 2023.
Microsoft has been in our Spaceship Voyager portfolios since day one. So we took a closer look at the news.
Here’s what ChatGPT had to say.
Spaceship: Describe yourself in 20 words
ChatGPT: I am an advanced AI trained to assist with information and answer questions.
Who trained you?
C: I was trained by a team of researchers and engineers at OpenAI, a research organization dedicated to developing and promoting friendly AI.
The team used a combination of techniques including machine learning, natural language processing and deep learning to train me on a large corpus of text data to be able to understand and generate human-light text.
The training process involved feeding me vast amount of text data, adjusting the parameters of my model and then evaluating my performance through various metrics and iterating on the process multiple times to improve my performance.
Explain what you do as though I were a five-year-old.
C: Okay, imagine you have a really big book that has all kinds of informaiton in it, like stories, facts about animals and plants, and things that people made. My job is to read that big book and understand what it says so I can tell you things you want to know.
Like if you asked me "What's an Elephant?", I would look through the big book and find pictures and words that tell you about what elephants are, where they live, what they eat and how they look like.
And because the book is very big and has a lot of information, I can tell you many things. Think of me as a helper or a friend that can give you answers when you want to know something.
What are some practical uses for you?
C: There are many practical uses for an Al like me, some examples include:
- Natural language processing: I can be used to understand and generate human-like text, which can be used in applications such as chatbots, virtual assistants, and language translation.
- Image recognition: I can be trained to identify objects, animals, and other features in images, which can be used in applications such as security systems, self-driving cars, and medical imaging.
- Predictive modeling: I can be used to analyze data and make predictions about future events, which can be used in applications such as finance, marketing, and weather forecasting.
- Content creation: I can assist with writing articles, summaries, translations and summarizing text.
- Research: I can assist in researching and summarizing information on a wide range of topics.
- Healthcare: I can assist with diagnosis and treatment plans, drug discovery, and clinical trial analysis.
These are just a few examples of the many ways Al can be used to assist and augment human capabilities. As technology continues to advance, new possibilities for the use of Al are likely to emerge.
I write words for a living - will you take my job?
C: Al has the ability to assist with various tasks such as writing and content generation, but it does not mean that it will take away people's jobs. In fact, Al can be used to augment the capabilities of writers and other professionals by providing support and assistance, allowing them to focus on more creative and higher-value tasks.
Al-powered writing tools can help writers with tasks such as research, fact-checking, and editing, as well as assist with more mundane tasks like data entry, which can free up more time for creativity and writing. Additionally, Al can also be used to assist with writing tasks that are too time-consuming or repetitive for humans, such as writing summaries or translations.
That being said, it's important to note that there's a difference between automating tasks and replacing the jobs of human writers. Al systems can help with the former, but it is unlikely that they can replace the creativity, nuance, and emotional intelligence that human writers bring to the work.
It's also worth noting that the ability of Al to create writing that is indistinguishable from that of humans, called "GPT-3" (Generative Pre-trained Transformer) is not a widely adopted technology and it's still under development and testing. Therefore, it's unlikely to be widely adopted in the near future.
The integration of Al into the field of writing will likely lead to a shift in the nature of work, but it's not a replacement of the human writer.
It is expected to create new opportunities and efficiencies, and ultimately can help human writers to focus on the more value-added aspects of their work.
Have you heard of Microsoft?
C: Yes, I have heard of Microsoft. Microsoft is an American multinational technology company that develops and sells a wide range of consumer and enterprise software, as well as consumer electronics, personal computers, and services.
Founded in 1975 by Bill Gates and Paul Allen, the company has grown to become one of the largest and most well-known companies in the world.
Some of Microsoft's most popular products include the Windows operating system, the Office suite of productivity software, and the Xbox gaming console. The company has also been investing and developing Al technology, such as cloud-based services, natural language processing, and computer vision.
Hypothetically, if Microsoft were to invest in you, what would make you an attractive proposition for them?
C: If hypothetically Microsoft were to invest in OpenAl, the company that developed and trained me, it could be for several reasons.
Firstly, OpenAl is a leader in developing advanced Al technologies, such as natural language processing, machine learning, and reinforcement learning. These technologies have many practical applications across a wide range of industries, including healthcare, finance, and transportation. Microsoft, with its extensive portfolio of products and services, could leverage OpenAl's expertise to improve its existing products or develop
new ones.
Secondly, OpenAl has a reputation for developing and promoting "friendly Al," which aligns with Microsoft's commitment to responsible Al and ethics. As Al becomes more prevalent in society, it's becoming more important for companies to ensure that their products are transparent, explainable, and align with human values.
Thirdly, OpenAl's team of experts in Al, including researchers and engineers, could be an attractive proposition for Microsoft, which could benefit from their expertise and knowledge on the field.
Lastly, given the rapid advancements in Al, investing in OpenAl could give Microsoft an edge over its competitors. By investing in a leading Al research organization, Microsoft could gain access to cutting-edge technologies and stay ahead of the curve in this rapidly-evolving field.
It is important to note that all this is hypothetical as I don't have current information or knowledge if this type of investment has taken place. It's best to check with the official statements or confirmation from Microsoft or OpenAl.
Where is the World Going?
C: As an Al, I do not have the ability to predict the future or know the exact direction in which the world is going.
The future is complex and uncertain, and it is shaped by a wide range of factors including economic, political, social, and technological developments.
That being said, some of the key trends that are shaping the world today include the continued growth of technology, particularly in the fields of artificial intelligence, the internet of things, and blockchain, which are leading to new opportunities and efficiencies across a wide range of industries.
Climate change, environmental issues, and sustainability are also becoming increasingly important, as the world's population continues to grow and the impacts of climate change become more apparent. There are also demographic changes such as aging population, migration and urbanization that will affect the future.
Economic globalization, rising income inequality, and the shift in power from West to East are also factors that will shape the future, along with the increasing importance of digital economy, cyber security and cyber warfare.
It's important to note that these are just some examples, and the future is complex and constantly changing, shaped by many factors, including unpredictable events. Therefore, making predictions on the future can be difficult and uncertain.
Why is it important to invest Where the World is Going?
C: It is important to invest where the world is going because trends and developments in certain industries and sectors can have a significant impact on the performance of investments.
By identifying and investing in areas that are likely to experience growth in the future, investors can potentially increase their returns and minimize the risk of their investments underperforming.
For example, investing in companies and technologies related to renewable energy, electric vehicles and sustainable technologies may be more likely to perform well in the future as the world is becoming increasingly aware of the importance of combating climate change.
Similarly, investing in companies and technologies related to the internet of things, big data and artificial intelligence can be beneficial as the growth of these technologies is expected to continue in the coming years and the industries built around them could have a bright future.
It is important to keep in mind that it is not only about identifying the next "hot" industry or technology, but also considering the fundamental aspects of the companies in which one is investing, like their management, products, financials and competition.
It's also worth noting that no one can predict the future with certainty, and it's important to approach investing with a long-term perspective and to be prepared for market fluctuations and changes.
Additionally, it's important to remember that investing in one industry or sector doesn't guarantee success, so it's important to diversify investments across different asset classes and industries.
Have you heard of Spaceship?
C: Yes, I have heard of Spaceship. Spaceship is a Australian fintech company, which provides investment products and services, including the Spaceship Superannuation fund and the Spaceship Universe portfolio.
It was founded in 2016, with the goal to help customers to invest in a simple, accessible and low-cost way, and to help more Australians to take control of their finances and invest for their future.
The company generally targets millennial customers and offers investment options such as shares, exchange-traded funds (ETFs) and term deposits and other related services.
That's not quite right, but pretty close. We don't offer shares, ETFs, or term-deposits yet. What message do you have for Spaceship customers?
C: I apologize for the confusion, my understanding of Spaceship was based on the information I have seen in my training data. As an Al, I don't have the ability to browse the web or access to current news or updates, so my knowledge may not always be completely up to date.
I understand that Spaceship is a fintech company in Australia which provides investment products and services, and that your goal is to help customers invest in a simple, accessible and low-cost way.
With your focus on helping people invest for their future, my message to Spaceship customers is to remember the importance of a long-term investment strategy and to stay disciplined and diversify their investment portfolio.
It's also important to understand the risks associated with any investment and have a realistic expectation for returns. And of course, to always consult with a financial advisor or professional before making any investment decisions.
We asked our Spaceship Voyager investment team about how OpenAI can contribute to Microsoft’s cloud-first approach – and why Microsoft’s in the Spaceship Voyager portfolios.
We can confirm they’re real people. Here’s what they said.
“Over the last several years Microsoft has successfully transitioned from desktop computing to a cloud-first business. Microsoft’s cloud services Azure allows customers to leverage Microsoft’s technology and infrastructure. Microsoft has announced plans to add OpenAI models to its Azure platform. Microsoft expects use cases to range from customer interactions/complaints to helping developers code faster.
Additionally Microsoft plans to use Open AI to improve Bing search results and help generate documents and emails for Word and Outlook customers. It’s an exciting time to see the improvements in AI,
(I still shudder at the thought of Clippy, the old Word office assistant)
as AI use cases expand from recommendations, think Netflix content to actually generating content to Kelly’s questions above."
A.I. is a megatrend, on par with electricity for the opportunities it could create - and we’ll be keeping a close eye on it for our Spaceship Voyager portfolios.
You can try ChatGPT out for yourself.
The Spaceship Universe, Spaceship Earth and Spaceship Origin portfolios each invest in Microsoft at the time of writing.
Important! We’re sharing with you our thoughts on the companies in which Spaceship Voyager invests for your informational purposes only. We think it’s important (and interesting!) to let you know what’s happening with Spaceship Voyager’s investments. However, we are not making recommendations to buy or sell holdings in a specific company. Past performance isn’t a reliable indicator or guarantee of future performance.
