Intelligent Investing #76 Glenn Leest, Evolution of artificial Intelligence

In this episode, join Glenn Leest as we continue to delve into the fascinating and rapidly evolving landscape of Artificial Intelligence (AI) across various industries.  We discuss the positive and negative implications of AI and the importance of responsible AI development.  This episode isn't just for tech aficionados or finance professionals; it's a conversation for everyone intrigued by the ever-widening reach of AI across industries. 

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Glenn Leest
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WT Wealth Management
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Transcript

This is the Jeff Oravitz show. All right. Uh, Glenn Leest here with me from WT wealth management. Uh, give us a big update on artificial intelligence. I want to hit on that more. Um, this is a huge thing that you and I've talked about and it's, it's literally growing every day. This thing is like thinking and growing.

I don't know what thing it is. I don't even know where it is. Uh, there's some central network like Skynet or something, but it's like, it's learning as we speak. It's outsmarting us. It's going to know more about Glenn than Glenn knows about himself. It's, it's, uh, I mean, it's, it's, I think it's important though, because you and I've hit in the past Glenn about.

When you think of UFG insurance, what comes to mind? Our experience in writing businesses of all sizes. That's why there's no better time to think UFG. We have you covered. The benefits, but then also the downside, which is Terminator and Skynet comes self-aware and all that. We've all seen those. I think we have, this is like a guy flick, maybe some people like my wife won't watch it.

She's like, I don't know if with the Terminator type thing, but the good side. Yeah. Which like medical and things like that, what do you see as the capacities here going forward and the capabilities? Yeah. So there's a lot of definitely positive capabilities that we've covered, you know, in the medical field, being able to detect diseases that maybe the patient wasn't aware of, but based on their symptoms and there, you know, what they're presenting with the AI is able to do, you know, some diagnostics it's seen, you know, a couple million people in the last couple of years and has learned what to look for.

So, there's that, um, we talked about manufacturing being able to have a higher quality, um, be able to have more automation. So, quality control, um, you know, you're not getting products that are subpar. The quality controls a spot on every time and the AI knows what to look for. Um, so that's a positive.

Um, there's a lot of AI even in, um. You know, self-driving potentially that's going to learn, you know, they had to do a lot of learning, um, even for Tesla. Um, just show it lots of footage of streets and interactions with other cars. So that way it starts to learn. Um, and I tried using the Um, self-driving, uh, for Tesla about a month ago, I was in Seattle.

Did you rent one? Yeah. I rented one. Um, it's kind of unnerving. If I'm telling you the truth, I clicked it on and I was like, uh, yeah, let go of my wife. I didn't even tell my wife because I knew she'd be like, no, don't do this. And it, it would. It would be in the lane, but it'd start to veer off to the side in the lane, and then as soon as you're about to write going to the next lane, it would like auto to correct really fast or hard.

I was like, okay, you know, that's, you know, maybe I'm doing something wrong. That's probably going to be a hard road for like, you're going to get the I don't know. The aficionados, the people who are just like, this is cool, but the public let go of that wheel and say, okay, do you just drive me now?

You do this. I think that might be a hard threshold for people to get over who've been driving for 10, years. Yeah. No, don't get me wrong. If there's a point where I had. Enough trust in the self-driving vehicle to get in, punch in my coordinates and be able to do other things while I'm driving and still be, be somewhat aware, but have the confidence to know it's going to get me there.

It's going to be safe. I could watch a movie. I could make phone calls. I can do office work, you know, and so that becomes appealing or. Maybe I'm just tired, you know, tired of watching the road and being ultra-attentive. That's where thing because I could be wearing especially on long drives. Um, so those are all positives.

Um, other positive areas they can use it. We talked about weather predictions, being able to see weather patterns and Learning, um, from past data, what were the surrounding circumstances, um, what did things look like, temperatures, patterns, and then it learns, okay, this, all this happened every, the last eight out of nine hurricanes.

These are the pre symptoms that it saw more so than a human, you know, was able to pick up on. So that that's a definite net positive for, um, being able to warn people before, or are you at least say, hey, there's a possibility, you know, like almost like the fire, you know, danger, moderate or yeah, whatever.

So that's, that's good. Um, especially for tornadoes and hurricanes and tsunamis, that's a net positive and it can do it much faster. So, this is processing on a level that we just can't even comprehend and it's getting to the point where it's, it's so fast and so quick that it's Um, cause there's some things that.

Um, AI, it just doesn't, it's not a human, so it doesn't take certain things into account, but eventually it probably will. Um, like we, we use that example, uh, we're talking about, um, iRobot with Will Smith and the premise of the beginning of the movie is, gets in a car accident, two vehicles go over the bridge into the water.

And uh, the robot jumps in to try and save him, looks at Will Smith and is like, okay, he's a male this age. He's got a 58 percent chance of living. And then the other car was a, like a kid. Yeah. And it was like, had a lower chance, you know, probability of living. So, it saved Will Smith. And the complaint was no human would have done that.

They would have gone for the child, the child first. And so those are. You know, areas that I hope AI picks up on, because if it doesn't, um, it doesn't have respect for human life, that can be problematic. And that's the problem. And then maybe going to that same exact movie, I Robot, where they had to have them, the rules.

I can't remember what they called it on that. The rules for robots, like, can't hurt humans. Let's talk about that when we come back.

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Although maybe this isn't the best example because it didn’t get overridden or. Something like that. In iRobot, there's this whole conflict. They turned red, and they started going after people, right? So, yeah, I don't know if it's, if it's, uh, feasible, but... Should we be coming and people like Elon Musk and others who are heavily involved in artificial intelligence have said we better come up with something.

Even like he was calling for a pause, but the problem with a pause right now is it's moving so exponentially fast. This would be like. Back in World War II, we were developing a nuclear bomb. The Germans were developing a nuclear bomb to a lesser degree. I think the Japanese were looking at it, but the Germans, I've heard stories that they were maybe six months, 12 months behind.

So had we said, well, okay, this nuclear bomb thing, serious stuff. We better pause Glenn. And then the Germans didn't pause and then built it. Yeah. They have a TV show. I started watching. It's called a man in the high cast. Yes. Yes. Yeah. Yeah. United States lost the war and now half of the United States.

Uh, on the Appalachian Mountains, the, the Western coast is run by Japan and the rest of the United States is run by Nazi Germany. And so, it's a fascinating series on Amazon prime and there's a book I think originally from like the sixties or something, but I'm a couple episodes. I got to kind of weather that cause it's like, it's crazy.

I mean, they get into, I won't spoil, but you know, Hitler and Himmler are still alive and all those people, you know, and it's the 1960s, they brought up a good area not to go off too much on a tangent, but the, the Hitler was aging. And so he was, people knew he was eventually going to pass on. And so, you had his number two, number three in line next in line.

And one of the concerns that people had was, you thought Hitler was bad people. You know, coming after him could be far worse. And, and I think about that with Putin in Russia, you know, something was to happen to Putin. Are we going to get a less radical leader or more radical? Yeah. And it's when I've seen these forced regime changes, um, sometimes you're like devil, you know, versus devil, you don't know kind of thing.

And it's like, woof. But anyway, it's, it's an amazing thing that, okay, if we pause artificial intelligence development as like the U S because we're concerned about China's not going to terminator. Yeah. China's not pausing, uh, Russia's not pausing. I mean, all the, all the big players are doing this. Iran's probably got their AI department working right now.

Yeah. Yeah. So that is something as a society, we need to figure out how we mitigate these technologies, how do we use them and what the limits are because. There is the dark side of AI and I think it was, um, Microsoft and Google, they were talking about one of their largest fears moving forward is deep fakes of the ability of AI to create images, video, uh, of People and even, uh, do their voice because the AI, you know, can mimic it and actually have software.

I've had it for like the last year that does that for me. I can record a segment we talked on here today and I could upload it and transcribe it. We're not even here. Yeah. I’ll transcribe it. And then I'm Microsoft Word doc and I can upload as a transcript, but I can do it the other way too. I can type out a document, put it in there and use AI and we'll do it.

My voice. It could. It could do anyone's voice if it has enough of the voice to kind of know their inflections, their tones. And I actually called my wife one time with it and didn't tell her that the AI voice said it took a little while to pick up until I started saying stuff that I would never say.

She's like, what? Like, he wouldn't say that. Like, this is obviously not real, but that becomes an issue because moving forward, what we see, what we hear, how do we determine we already have that. problem now determining what's real and what's truthful because there's so much convolution, uh, biases, conflicts of interest.

And so, I'm always very skeptical of anything I see on the TV, let alone throwing deep fakes with it. And I think the running joke, I think I said this last time is like, oh, I didn't know but Joe Biden dancing on the moon last week. You're like, that's not him. That's, that's AI. It's an AI. It happened to me when I was just going through YouTube, I was trying to figure out ways to boost it.

The channel a little more. So, it's looking at all those shorts, those little videos, which is a crazy story. But I kept seeing all these images of Ukraine, Ukraine, um, taking down Russian planes and tanks and this and that. Now I know that's happening, but there were so many, and I was like, surely this is not happening.

It's not happening. This, this, this seems with the uptick. Yeah. Yeah. Well, what's with the uptick. And it was like every fifth video, and I looked close enough and I was looking at a smaller iPhone, so you couldn't tell, but I looked close enough and then I saw something animation. It was all animated videos Oh, wow.

Of simulations of taking down a mug whatever, or strafing, a, a tank convoy. Mm-hmm. And I was like, this, the numbers just aren't right. They would be completely out planes by now. Yeah. From the, what I'm, what I'm seeing, that was just one example, and it was low grade, probably state sponsored or some kind of outside.

It's probably not, you know, Glen in the basement or something, you know? Yeah. With our technology. But you've got a certain technology there in your phone that's available to you now. Yeah. Imagine what then. The big, the big guys have at this point that we're not even aware of. And we can all have access to Baird and chat GTP.

So, in theory, this kind of blow your mind. I could have chat GTP or Baird create all the text content and then copy and paste that into the audio software. And I could technically produce a podcast that I never even said, and it'd be hard for people to tell it wasn't me. Now, I think that's really creepy and weird.

And I think the one thing that it struggles with is, um, sometimes tone inflection, like it's just really. but it's going to get, it's going to get so good that you're not going to tell, um, be able to tell very well. So, what's in the future then? Do you think there's a market for companies out there that ripped this stuff apart?

So first of all, I'm concerned that someone could take your person and, um, put you in situations that they're trying to blackmail you and say, we've got a video of you and it looks real and you know, the videos I'm talking about, uh, things like that, or, Hey, you were there at that riot and here's the picture of you.

We got your eyes that you're wearing a mask, but we can tell us, I mean, it's going to be so hard to tell. Now, but going into the future, do you think there is an industry, an investment, an investment side coming up? Yeah. That's going to be like, hey, we ensure, I got to think about that company. It's like, um, protect your identity, the social security numbers.

Yeah. Yeah. Yeah. Is that the one? So, is there somebody that's out? That's like, um, you know, Genlock that's like, hey, we're going to protect your being or your, your, your presence. then, I've heard the way to combat an AI that's gone rogue is another AI. So, no, right. And so, it's just a better AI. So maybe there's software that's developed by AI to detect, you know, spoofs or deep fakes.

And so, I think that will be a market because. Yeah. Sometimes even when you call into these different institutions, they're like, welcome to Fidelity where your voice is your footprint. And I think to myself, not for long, not for long. I mean, how are you going to verify it? Because it could be anyone and they, anyone could pull it's, it's all just a can of worms.

But I try to stay on the optimistic side. Okay, what are the positive uses for this? Um, with any new technologies, we're going to have the dark side, you know, surface and we're going to have to deal with it accordingly. But those are all just things that to keep in mind. Um, and one other thing with the deep fakes is you're going to probably see that in the political realm to, uh, people smearing their political opponent with content or information that's false and a hoax, but.

By the time people see it, the damage is already done. It's yeah, you're right. It's the public. Uh, the court of public opinion is so fast nowadays. And unfortunately, in the three and a half second news cycle, we've got guilty until proven innocent. Yes. How you are guilty. But by time you. Prove to yourself, which you, you would have to go to some company, or somebody does the forensic analysis, rips it apart and they're like, oh yeah, this was fake, and it cost you 150, 000 to figure that out.

It took six months because they got a big backlog because there's so many fakes out there. And at that point you go to who, to the meat, to, to, to X, you know, or Facebook and say, oh, here it is. I have the evidence. Nobody's going to listen to you. You're already ruined. I think there's. a growing issue of people that have a lot of influence of, um, maybe not hearing the full story or just regurgitating information that was untrue and it can ruin people's lives.

And I've seen situations where, um, things were misinterpreted and misheard and, you know, a person wasn't even there firsthand in this event, but they're just. I had given their opinion and then suddenly, the person got kicked out of their school. No one's going to hire them, you know, and this person, like, it's kind of like that.

Um, uh, black, uh, what is that? Black mirror? Yeah. Yeah. Social credit score on the credit. That was crazy. Yeah. Black mirrors are almost so dark for me. And, um, some of the episodes I was like, this is ripping my soul apart watching this. Yeah. I've only watched a couple, but that one was good. If you wanted to watch one, then that's not.

Two souls ripping, but it's like social credit score and it really is a dark side and everybody's doing things. I'm being fake nice to Glenn to get an extra thumbs up. Well, are we not doing that now? I think everyone's so afraid of, cause our, you know, there's been a push for, um, you know, everything you do is a potential microaggression or because of your demographic, somehow, you're immediately.

Awful in the problem in a racist, like, and these things are like, not true. And, but unfortunately, um, it just becomes so challenging, um, to counter prove to counter prove it. Yeah. And then people. They're like, okay, I don't, I don't even want to talk to that person over there because they look different than me.

And I might say, I might say just the tiny wrong thing. And then I'm going to be wheeled out in front of a podium and get ruined for the rest of my life. And so that's so devastating to society and it's, it's terrible. And you think, oh, well, uh, we're, we're, you know, on the, you know, try to make right of wrongs until you find out that what you did, that person wasn't in the wrong and you now just ruin their life.

And so, I think there's going to be a lot more financial liability for these people that do have influence, um, holding them accountable because there's actual damage being done. Yeah, if you destroy someone's life and you can prove that you knew this was total fake, or you created the deep fake, there should be severe recourses for that.

Um, you know, I'm a small government guy and I think we have way too many laws out there, but if there was something that the, our wonderful politicians could do, it would be to create some kind of protections for people. Uh, for the deep fakes, the AI, things like that. I even think with the privacy issues, you know, everybody can buy a drone nowadays, you could have an AI flying it at this point and you could get compromising video from a distance.

If you, you know, there's just all kinds of stuff that you should have some protection. I remember it was only like 10 years ago. Um, I knew someone that had. Opened up a drone photography business and he was trying to market it to the realtors like, hey, look, we can get drone footage of the, the home. And it'd be amazing.

And there was such a pushback. Oh, you can't do that. That's so wrong. Or, you know, you FAA this or FCC this. And then now look, everyone's everywhere. Yeah. And so, I just, I don't know when you said that it made me think, um, how, how times have changed. Yeah. And how quickly they're changing. Yeah. Yeah. And what we think this technology is, it's going to evolve so fast.

I mean, I'm going to recognize it. Oh, yeah. Especially if you look at, um, even like the writer strike in Hollywood, uh, and the actors that one of their big complaints is that, you know, the, the studio owns the image of that person. So, they could just. Use AI and be like, okay, Brad Pitt just did ten movies this month and it wasn't him and he's in a film that he had no choice over.

Like they could put him in the most ridiculous role, one that's, he would never take in, you know, normally but, you know, through AI they were able to do it. Or create, you know, movie strips, you know, it kind of feels like that's how it is now. Some of these movies, they just like, you know, same formula, just put in different variables, spit out, you know, some of the movies you're like, oh man, can we see something unique and compelling?

Yeah. Can we have a golden, like, I think TV for the past few years, streaming and things has been kind of a golden age because the longer form series have come up with tremendous storylines and things. There's a lot of crap too, but movies have seemed to become, okay, two hours of. How many buildings can you blow up and, you know, this and that, like, like the whole Marvel thing.

It's like, I think I've seen this one, Michael Bay. It's like, yeah, it's like, okay, how many, the golden gate bridge has been blown up again. You know, it's like the Empire State Building. And no, I think we all got to figure out a way to try to protect that, but it's hard because most of us aren't that technically savvy.

So, I think fine. You let me know when those. companies start popping up because I'm sure they're going to how to protect yourself from all this. And the good news too, maybe AI and um, that technology offers people that normally wouldn't have access to certain services online. Maybe there's financial services or other services that can be offered in all places in the world.

So that way everyone has access to it. And AI is a route to do that. Uh, so there's positive uses. Um, but there's, you know, we covered all the negative applications and then even robotics. That's a fun one to talk about too, because, um, then you can, you know, people have lost limbs or paralyzed, you know, you can use amazing stuff.

Yeah. And, and you were, someone recently was telling me about what I did this, the surgery or whatever. They helped somebody who couldn’t walk. I think that was you. Yeah. Um, so, but the potential is. Enormous. Yeah. Um, it's like anything though. Someone can take this smartphone, which has changed our lives and put so much content and information in our pocket.

Right. But they can also be a drone and walk in front of a, you know, a car because they're constantly looking at this right and get it. I mean, or they're spending 10 hours a day checking their status or you could be looking up. Uh, like I, I use YouTube a lot of times and I think you do too on construction projects.

And how do I do this? Oh yeah. You know, I need 20 minutes on this and there's people out there willing to do that. So, all the pluses are enormous, but like everything, watch out. Even robotics. I think that's a, we'll have to cover this in another segment, but even the restoring function. Cause I had a friend.

When we were 17, he got in a quad accident. I wasn't there, but he got paralyzed from the waist down. And he was like a stellar athlete. I remember just like this kid was amazing. He's always playing soccer, always running to now being paralyzed. And it was like. So, devastating, not just for him, but for everyone in his life too, because it really changed the trajectory of his life and he's, he's doing great now.

I mean, he's doing amazing things, but there's a long time since he sunk into a huge depression for a while. And then, I mean, but then if robotics and the, you know, what is that the, um, the neural link can restore function. You know, I think it's coming. Yeah, I think it's coming. All right, Glenn, as always, I appreciate it.

Really good stuff there. And, um, you keep up on it because I can't follow it. It's or get me an AI too, can I get the, yeah, yeah, it's going to watch the AI and we'll, we'll just hang out or something. I don't know. All right. We'll talk with you soon,