😺 ChatGPT for Decisions

PLUS: OpenAI building something more powerful than ChatGPT?!

Welcome, humans.

The EU AI Act is on the brink of passing, *three* years after rules were first proposed. Given AI’s rapid pace, it wouldn't be surprising if a slew of updates to these regulations are needed as early as next year.

It's like cramming for a bake-off by binge-watching cooking shows, only to discover the competition is vegan and gluten-free. Uhhh, does anyone know how to make air taste good?

Here’s what you need to know about AI today:

ChatGPT is less biased than humans in weighing two options.
Microsoft and Google teased us with their Super Bowl commercials.
Bumble rolled out an AI tool slashing spam accounts by 45%.
OpenAI is developing two AI agents aimed at automating tasks.

ChatGPT could be our ticket to making more logical choices.

Here’s something to take note of: ChatGPT passes the GARP test.

GARP? Is that the latest dietary fad?

No, silly.

GARP = the Generalized Axiom of Revealed Preference, aka a measure of how logically someone balances trade-offs, like whether to spend money today vs. save for a rainy day.

A recent study found that 81-95% of ChatGPT-3.5’s “decisions” in domains like risk, time, social, and food respect GARP, indicating that ChatGPT shows some serious rational decision-making chops, often outperforming us humans.

The emergence of economic rationality of GPT

But wait, there's more…

This study also highlighted that ChatGPT tends to be less biased than humans when contemplating two options.

Why? AI has the knack for bypassing the emotional baggage, past experiences, and shortcuts that usually sway our judgment.

A quick sidebar: While AI models still have some biases baked into them, another study suggests it’s possible to virtually eliminate these biases.

Why it matters: AI isn’t here to kick human decision-making to the curb. Instead, it can enhance it by filling in our blind spots, catching slip-ups, or chiming in with a valuable second opinion.

Here are some situations where AI could be leveraged:

Financial advisors weighing allocation risks.
Recruiters deciding between two job applicants.
A VC juggling decisions on multiple startups.
Corporate strategists choosing between expansion strategies.
And us? Deciding when to wrap up this list. (Hint: The time is now.)

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Around the Horn.

OpenAI is building two types of AI agents poised to autonomously tackle complex tasks (more on this tomorrow)…
Bumble is rolling out an AI feature to spot spam, after witnessing a 45% drop in spam reports during tests.
Google is expected to announce big upgrades to Bard (soon to be called Gemini) tomorrow.
OpenAI is forming a Child Safety team to ensure AI content remains safe for the kiddos.
Microsoft is aiming to equip 2 million individuals in India with AI skills by 2025.
A few Microsoft Copilot updates:
- Designer in Copilot now enables users to customize images with inline editing.
- Microsoft plans to integrate Copilot into OneDrive in May.
- Microsoft released a sneak peek of its Super Bowl ad (& so did Google for Pixel’s AI accessibility features!).

Treat To Try.

Maimo is a sleek tool that distills important data/insights from earnings calls.

For the day trading enthusiasts who'd rather not slog through verbose Seeking Alpha reports or endure Jim Cramer's theatrics.

We curated the top 27 tools you need for work in our “Top Tools For Business”!

Thursday Trivia.

Pigeons share one quirky trait with cats: their disdain for unsolicited touch. Seriously—attempt to pet a pigeon, and it will dart away as if it had eyes on the back of its head.

One glance, everyone knows the rules: one of these is DALL-E 3 and one is a real New Yorker cartoon.

Which is which?