Originally aired on July 20, 2023

Nick Black and Brandon discussed several topics related to AI, cryptocurrency, macroeconomics, and not being “stupid” with your money.

• They warned about a scam where someone pretends to need remote access to your computer to help you comply with crypto regulations. They take your crypto instead.
• Discussed Apple entering the AI assistant market with “Apple GPT”. It will compete with ChatGPT and Bard.
• Studies show ChatGPT getting “dumber” recently, possibly due to bad data from users.
• MI6 in the UK using AI to disrupt weapons shipments to Russia. Intelligence agencies adopting AI.
• FedNow launching soon for instant interbank fund transfers 24/7. Not a CBDC or crypto.
• Don’t make stupid financial decisions. Research assets before buying.

What can AI assistants really do?

• Apple is launching their own AI chatbot “Apple GPT” to compete with ChatGPT and Google’s Bard
• But studies show systems like ChatGPT have been getting “dumber” lately due to bad input data
• Still unclear how capable these AI assistants really are

Will bank payments get faster?

• The Federal Reserve’s new FedNow system will enable 24/7 instant interbank transfers
• This is not a CBDC or cryptocurrency, just faster processing between banks
• Could reduce time needed to clear checks and other bank-to-bank payments

How is AI changing intelligence work?

• Agencies like MI6 are adopting AI systems to enhance intelligence operations
• AI can process huge amounts of data to find insights humans might miss
• But AI still requires oversight from humans with contextual knowledge

Don’t be stupid with your money

• Scammers are impersonating exchanges/agencies to steal crypto via phishing
• Research any asset thoroughly before investing to avoid pump and dumps
• Following “crypto experts” blindly often leads to losing money