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Speaker 1: And we find that it's happening a lot today. We're

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stopping people from going through the airport in the street

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in the UK, we're identifying people before they commit the crime.

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And while it might be an interesting debate about personal privacy,

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is the debate really one that we want to be

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having when we're in an airplane and we're wondering is

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there someone who's going to do something bad on that plane?

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Speaker 2: You're listening to Carrie Let'sa's Financial Survival Network where you

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get valuable information you just can't find anywhere else to

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thrive in today's trying times. You need the Financial Survival

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Network now more than ever. Go to Financial Survivalnetwork dot

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com and get your free newsletter and gift. Financial Survival

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Network now more than ever.

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Speaker 3: And welcome you are listening to and watching the Financial

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Survival Network. I'm your host, Kerrie Let's Well. AI is

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all the buzz? Is it all it's cranked up to be?

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Can you actually profit from it now? Or do you

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have to wait for this golden era of AI technology

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to permeate everything? How big a deal is it? AI

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Expert is on with us now, Terrence Mills, Terence, Hey,

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you're the guy, CEO and innovator of AI solutions. So

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let's talk some solutions here. A is a real threat

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to the workforce of humanity. Here we're all going to

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be sitting around getting our guaranteed basic income and assuming

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the answer is no that, how can I use it

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now in my existing business to better improve my productivity

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and my work product Yeah. AI is not going to

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take over the world. Robots are not going to step

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in and take our jobs. This is not what AI

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is about. AI today also can't understand very much other

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than what we teach it. So based on what we know,

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AI will know and in business today, we really build

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AI for the purposes of solutions solving problems that are

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real business problems that maybe humans don't do very well.

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So Carrie, you and I can have these types of conversations,

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really well intimate discussions.

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Speaker 1: Machines can't. On the other hand, us as humans don't

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have the ability to go ahead and pull stuff out

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of a database at random, We don't have the ability

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to term things that can just happen in a split second.

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Machines can make those decisions, and they can do those

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things better than humans. So if we're solving a business problem.

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The answer is, yes, we have a lot of work

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yet to do. But makes sense.

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Speaker 3: Okay, so it's an aid, But if you listen to

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Elon Musk, it really sounds like this thing is going

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to basically take over Maybe not so much like, but

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I don't know. I'm sure you saw that demo of

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the robot handing the guy an apple, putting the dishes,

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the dirty dishes in the sink, and all that stuff.

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It seemed pretty real.

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Speaker 1: Oh, it's real, all right. But as I said before,

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the robot can only do what we teach it to do.

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And do we think that it's going to take over

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the world. I don't think so. At this time. We

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have a lot of work to do before AI can

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think on its own, before robot can think to put

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the dishes away, or to clean the dishes or hand

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me apple if I don't tell it to do that. AI, though,

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on the other hand, does have some threats that are valid.

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So in the UK we're very concerned about AI taking

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pictures of general public, both when they enter the airport

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also when they're walking down the street, and there's a

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lot of debate about that as well. So based on

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the current state of AI and where we have to go.

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We have a lot of work to do. But ethical AI,

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which is what I think that everyone's talking about now,

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is really very important to us.

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Speaker 3: Okay, so where do you think AI holds the most promise?

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Speaker 1: I think AI holds the most promise in solving business

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problems that humans can't solve. Today. We do it a

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lot in healthcare. As an example, we're bringing doctors and

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patients closer together by using AI to pull out the

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risks that are in health insurance claims so that we

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can pay person providers so that they can focus on patients.

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And that is solving a really big business problem.

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Speaker 3: Okay, what about the concept of like having one pilot

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cockpits because AI is going to handle all the other stuff.

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It doesn't sound like a real good thing to me,

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but in Europe they're actually going ahead to experiment with it.

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Speaker 1: Well, we have the same thing in self driving cars

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and in that debate, and in that debate we wound

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up to find that if cars can drive better than humans,

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is it a bad plan? I agree with what you're saying.

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Do you want to be in the sky? Well, this

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is something that we think about, but it's very possible

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that AI can fly a plane better than a human.

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I think the question mark is, though, what happens when

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something goes wrong, either in a car or in a plane.

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These are stark contrasts to humans and their ability to react.

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We remember when Sully landed the plane on the Hudson,

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and the big thing there was, Yeah, well, you can't

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debate what I did because I'm a human. I'm not

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a machine, and as a human we react to certain situations.

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As a machine, it doesn't react, it does what it's

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told to do. And this is the stark contrast. That's interesting.

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Speaker 3: Yeah, well, if only all my employees did what they

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were told to do, the world would be a wonderful place, right.

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Speaker 1: I think that's right.

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Speaker 3: So, but things like when you're dealing with you mentioned

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airport security. All right, so the AI you can basically

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go through every passenger's information, everything that's ever been done

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about them, and figure out whether they're a threat or not.

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Maybe we could do away with these ridiculous security theater

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and all these airports. I think that that's right. I

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think it's on its way there.

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Speaker 1: I mean today when I walk into La Guardia Airport

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and I have to go to a gate. It's taking

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my photograph. I have to stand in front of a camera.

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I have to have a retinal scan, and here I

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am yes on Terence Mills. Right, you can go through.

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We're definitely moving in the right direction and we can

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get a lot of bad actors out of the playing field,

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so to speak. If we're using this technology for good.

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I think the difference in the argument is can we

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use it for good all good? Or is there places

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where bad actors can come into play and use it

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for bad things as well. That's still a current debate

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that we're having. All right, So what about pre crime?

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Speaker 3: All right, we have enough data on criminals and crimes

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that basically, you know, it's getting to the Tom Cruise

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movie Minority Report, but with a difference that it can

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accurately in many cases most of them predict who's at

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risk of committing crimes.

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Speaker 1: It'll be solving crimes. So too well, it ends absolutely

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without a doubt, and we find that it's happening a

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lot today. We're stopping people from going through the airport

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in the street in the UK, we're identifying people before

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they commit the crime. And while it might be an

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interesting debate about personal privacy. Is the debate really one

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that we want to be having when we're in an

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airplane and we're wondering, is there someone who's going to

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do something bad on that plane? If we can stop

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these things, that's the other side of the argument, and

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it's a good argument to be having. It's an interesting

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place to be right now.

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Speaker 3: Yeah. I mean really, even before AI came into focus,

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they were working on this in Chicago and a few

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other cities where feeding they were like solving serial killer

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cases with big data. I mean, AI is just big

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data on steroids pretty much. Right.

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Speaker 1: It is big data, but there are other tools of

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that data that need to be put into motion in

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order to work. We have these big terms like machine

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learning and natural language processing. I fear that no one

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really yet understands all of this stuff, and the common

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person walking the street has no idea what I just said.

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I think it's important to recognize that tools of AI

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need to come together to build a solution in an

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interesting way, to solve a problem. When you're talking about

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solving crimes, you're solving a problem. When we're talking about healthcare,

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we're identifying business problems that maybe a one trillion dollar spend.

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These are big, big items. Whether it's on the personal

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side or whether it's on the healthcare side or any

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other business that may be regulatory in nature, this is

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a big deal.

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Speaker 3: So I tried to get to chat EPT to analyze

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the twenty twenty five US budget and cut out twenty

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five percent, and they just wouldn't do it. I mean,

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maybe I'm not right in the right query, but it

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gives me some nonsense here, a gobbledegook that you know,

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it never really did the analysis on its own, you know,

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tells me is we need to raise taxes from twenty

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one to twenty eight percent for the corporate alternative minimum

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income tax. We need to tax the rich more with

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a twenty five percent minimum tax on wealth for individuals.

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And that this isn't this is like raising the this

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is this is not lowering the water. This is raising

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the bridge here and then additional taxes, medicare taxes, and

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net investment income. And then it found that it could

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save nine hundred and twenty one billion by reducing discretionary

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spending growth. This thing is talking here like terrence, like

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a politician.

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Speaker 1: Yes, well, JATGBT while is a really innovative tool and

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leap forward. It has also gotten a lot of recognition

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from the common person walking down the street, hasn't it?

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And we understand that it has some capabilities, that those

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capabilities are more technical in nature, and its ability to

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learn data and to understand it, which is interesting. It's

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equal abilities to do what we call hallucinate. Another big

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word that people don't really understand is to say things

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that aren't true but yet presented as fact. That's what

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you just read to me, and that kids, my tasn't

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always doing. It's very similar to that. That's right.

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Speaker 3: Yeah, So I'm gonna I guess I didn't do a

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good enough query. So I'm telling it now to eliminate

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all tax increases, focus on spending cuts only, and especially

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corporate welfare. Let's see what it comes up with now.

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But you know, like you say, it's garbage in, garbage out.

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Speaker 1: It can only it's always read to be that it.

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Speaker 3: Can only find a trillion dollars here, man, I could

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do better than this, and it's only we could say

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two to three hundred billion on healthcare. I mean it's

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nonsense here, right, It's really nonsense. So yes, it really

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solve the generational problems that we're facing. We still need

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human put for that, right absolutely, And that's what I

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was meaning.

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Speaker 1: We can have these discussions a lot easier than others

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than a machine can, and so we should keep having

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these discussions. Hey, what's the best use you've found for

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AI so far? Hey, for us, it has been healthcare.

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Healthcare is sixteen to eighteen percent of GDP, whose ever

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numbers you believe on a Monday, And based on that,

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we have an understanding that there are a lot of

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problems in our healthcare system and the ability to solve

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those problems. Machines can do it extraordinarily well, but it

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is not at the risk of weeding out people's jobs

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in healthcare. We need more doctors, we need more nurses.

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It is not going to overtake this industry. But it's very,

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very important to understand that it can solve some problems,

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to live interesting data and help replake decisions. And that's

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what we seek to do while driving down costs, which

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is a big part. At the chat. GPT may not

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be able to tell you where that is.

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Speaker 3: Well, it gave me some programs to cut here now

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that I said specific instances, it wants to cut out

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the F thirty five Joint Strike Fighter program. That'll take

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two hundred billion overseas military bases procurement reform, so we

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save five hundred to six hundred billion right there. I mean, man,

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if we could just get rid of the politicians and

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let the AI go to work, we could actually accomplish something.

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Speaker 1: They may be concerned about that, and that might be

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part of the problem.

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Speaker 3: I mean, that's what we got to do here. We

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got to get rid of our ruling class and just

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get AI in there. Because there is zero intelligence in Washington, DC.

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It's actually negative I think. I mean Corfrid welfare. They're

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talking four hundred billion agricultural subsidies XM bank. I mean,

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it's it's insane here, and we barely scratch the surface.

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Speaker 1: Man.

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Speaker 3: I think with a few more queries I could get

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us into surplus territory here. And it reminds me of

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that movie Dave where he sat down and did basic

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math on a pad and man did managed to come

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up with one point five trillion, and stats like chat

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GPT can do it a little bit quicker. Remember the

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Grace Commission, Oh sure, they were only back then the

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deficit was nothing and they were looking at two hundred

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and fifty billion a year, which none of it ever

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got implemented because that's not the way Washington, DC works.

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But now the genie is out of the bottle. Me

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sitting at my desktop and do a better job managing

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the economy than the people who are, like, you know,

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responsible for it.

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Speaker 2: Right.

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Speaker 1: Yeah, I think CHATCHPT doesn't collect a paycheck and CHATCHPT

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doesn't have other interests, and so there you go.

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Speaker 3: Yeah, well, you know, I think the what was it

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they said, Samuel Colt made all men equal? Lenny created

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the revolver, right, the forty five calibery revolver, the forty

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five And maybe chat GPT will make everybody's IQ the

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same now, either for the better or for the worse.

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Speaker 1: Here, Terrence, that one may be for the worst, but

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we'll see what happens.

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Speaker 3: Hey. Three things that everybody who is listening to or

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watching this show can do with AI right now to

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make their lives better.

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Speaker 1: Yeah, that's an important one. If we want to use

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AI in order to lower our own expenditures in the household,

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we can do that. We may have to give interesting

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queries to chat GPT as an example, but we can

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lower the amount of expanse on food items. We can

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lower the amount of events on fuel just by going

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and trending, which it's capable of doing, of where the

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lowest costs are. Now, I'm not too sure that humans

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will drive an extra fifteen miles to get a lower

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gas rate. However, chat GBT, unfortunately that's the case. So

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I think that what's really happening, though, is chat GBT

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is always around us. Not just that, but AI is

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around us in general doing things that we didn't know

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it was doing. So when we're using our phone today,

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Siri or any version of Siri is out there queerying

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the data of the world in order to give us

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an answer to a common question. And sometimes the questions

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can be complex and the answer is more complex, but

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it's still giving us information today that we never thought

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we could put our hands on, and so for that,

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we use it daily and it's always around us all

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the time. So in a lot of cases we like that.

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In some cases we don't want advertisements right away for

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goods that we looked at online, but that's the world

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that we now live in, and we hope that it's

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all for good instead of it being or turning bad

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in some way with a bad actor.

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Speaker 3: Hey, good news here I found additional savings for us. Here.

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We're making a progress. Just while I'm talking to you.

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We've solved most of the federal budget. Postal Service reform

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cut losses by reforming USPS operations one hundred billion federal

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property sales. I think we can it says fifty billion.

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I'll bet we can find half a trillion there. It

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is asinal grants reform, endowment taxes. All right, that I

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like a lot, because why should Harvard have eighty five billion?

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You know, I save two trillion dollars in literally five minutes.

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I mean, right, you're doing pretty good, Jared, Now, okay,

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So that's cutting costs. And we can use chat GPT

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feeding your budget somehow. I guess you would do a

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list of everything, but it would have to know what

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you bought too. But what about making more money? How

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do we use it to make more money?

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Speaker 1: Well, I think that the big firms on Wall Street

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figured that out a long time ago, and they're taking

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the common person out of the trading game, and that's

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how they're making more money. I think that there are

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a number of business examples like that where it's working

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in that vein. But you know, like I said, the

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common person walking the street experiences it more than it does.

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Put it to use as an example.

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Speaker 3: Okay, well I'm buying it. So give us the important

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and stuff. How we connect with you on the web, websites,

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all that stuff which you will find in the show

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notes of course on Financial Survival Network dot com. That is,

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if the AI note taker does what it's supposed to do,

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which it doesn't always do, tell us how we connect

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with you.

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Speaker 1: Yeah, I can be reached at view duu dot com

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and then can also be reached via LinkedIn and my

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LinkedIn profile which is Terrence spelled with one R and

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a mills m I L L.

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Speaker 3: S excellent And like I said, it's in the show

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notes this interview on Financial Survival Network dot com. Make

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sure while you're there you sign up for your free

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00:20:44,000 --> 00:20:49,960
newsletter also our sister site, Inflation dot Cafe to find

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out the latest ways the government is diminishing your purchasing power,

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which is an ongoing process just like AI. And if

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you've got a question comment for Terrence or myself, shoot

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me an email k L at Carrie LUTs dot com.

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Terrence absolute pleasure. We are good. Definitely, you're our go

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to guy for AI. We will have you back on

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the show.

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Speaker 2: Thanks very much, Thanks for listening to Carrie Letz's Financial

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Survival Network, your solution to today's trying times. For the latest,

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00:21:20,720 --> 00:21:26,440
go to Financial Survivalnetwork dot com. Financial Survival Network now

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00:21:26,559 --> 00:21:27,400
more than ever,