Well this is awkward.
With so much going on in the big wide world, it sometimes becomes difficult to hone in on one issue to write about. Could using AI to generate a meaningful article be a way to “bail out” of writing this piece? Replace me?? It probably could, but it ain’t gonna happen. Everyone knows that AI is either going to change the world……or destroy it. Asking AI to focus on things happening around the globe (and here at home) and come up with thoughts would probably destroy AI in its tracks. Like what?
Since the U.S Non Farm Payroll numbers were just released this past Friday, let’s begin there. The “headline” number came in at +353K jobs created, or double what was expected. Why the huge miss? During 2023 the same NFP monthly numbers seem to have been overstated by about 25% when the revisions came out. Dis-information? Statistical anomalies? Poorly educated statisticians? Kind of makes one suspicious. Everyone should be extremely eager to see next month’s numbers/revisions. Could AI do better? No, because AI has not had time to become paranoid or experience common sense yet. AI is not known for intuition. At least not yet.
Could AI be called upon to write an accurate and insightful article on today’s inflation? Heck no.
The headline inflation numbers are totally bogus. How could AI possibly conjure up a meaningful article on what the real rate of inflation is? Obviously first, which inflation numbers? You want your numbers with or without food and energy? Housing? Chicken vs beef? (By the way, a great article in today’s WSJ….2/5/24…by Allysia Finley in the opinion section coining the term “Shrinkflation”) Even the best AI can’t figure out constantly changing bogus numbers.
So yes, artificial intelligence could write an article touching on almost any subject but (so far) AI is not able to actually think or incorporate some level of common sense. When people decide to turn over the writing of an article to AI are they being “rescued” from actually working? Or will AI make people more lazy? Who will fact check (or bother to) an AI article? Hmmmmm! Certainly you can tell from my writing it sure wasn’t AI. Or was it?
Bill Taylor is the CEO of Digital Wealth News and a 40+ year veteran of the financial markets. You can also ready his weekly musings on BTC, ETH, Gold & SP500 at “The Taylor Market Report“.