It’s been about a year since OpenAI impressed the world with its AI chatbot, ChatGPT.

It could provide thought out, human-like, and (mostly) accurate answers to just about every question you could imagine.

Since then it’s only gotten better.

The GPT3 large language model was replaced with the dramatically more popular GPT4 model, and it was granted real-time access to the whole internet (for paid users at least).

Also new chatbots were introduced by other companies, such as Google’s Bard and Claude2 from the AI startup, Anthropic.

So with AI chatbots unofficially turning one year old, I think they’re ready to solve all of the world’s biggest problems.

I’ve assembled a Council of Chatbots that should make short work of all of the issues that world governments and experts have failed to settle over the last few years.

But first, if you read yesterday’s Technology Profits Daily then you’re aware that Paradigm Press now has a YouTube channel and that there’s a brand new video interview of AI/crypto expert, author, and chess master James Altucher.

Watch the interview right now and make sure you subscribe so you don’t miss any future content from all of our experts!

Now on to fixing the world…

How do you feel about President Biden’s recent AI executive order? What suggestions do you have for future AI regulation?

ChatGPT says…

The executive order on AI has the potential to be effective in several ways. It addresses critical issues such as AI safety, security, and privacy, which are paramount in the development of AI technologies. 

It encourages collaboration with international partners, recognizing the global nature of AI challenges. Additionally, the emphasis on equity, civil rights, and consumer protection aligns with the need to prevent discrimination and bias in AI systems. 

It also supports innovation and competition, promoting the United States' leadership in the AI field. However, the effectiveness of this order will depend on successful implementation, enforcement, and continued collaboration with stakeholders.

For future AI regulation, some suggestions would include:

• Clear and Comprehensive Legislation: Develop comprehensive and clear legislation that addresses AI's ethical, safety, and privacy concerns while providing guidance for its responsible use across various sectors.

• Interdisciplinary Oversight: Establish interdisciplinary oversight bodies involving experts from technology, ethics, law, and other relevant fields to ensure a holistic and informed approach to AI regulation.

• Continuous Evaluation: Implement mechanisms for continuous evaluation and adaptation of regulations as AI technology evolves.

• Global Cooperation: Promote international cooperation and the development of global standards to ensure consistency and accountability in AI development and use.

• Ethical Frameworks: Encourage the adoption of ethical frameworks in AI development, incorporating principles like transparency, fairness, and accountability.

• Public Engagement: Involve the public, industry, and civil society in the policymaking process to ensure that regulations align with societal values and concerns.

• Encourage Research: Invest in research and development to better understand the impact of AI on society and the environment, allowing for more evidence-based regulation.

Ultimately, effective AI regulation should strike a balance between fostering innovation and safeguarding against potential risks, all while reflecting the values and priorities of the society it serves.

Now that we’ve solved that, let’s figure out what the best haven asset is against a teetering dollar.

What’s a better hedge against the US dollar? Gold or Bitcoin?

Claude says…

Gold has a long history as a store of value, but supply can increase through mining. Bitcoin is newer and more volatile, but has a fixed supply cap. Bitcoin is easily transferable digitally, while gold is physical. Gold pricing tends to follow supply/demand fundamentals more closely. Bitcoin is more speculative and susceptible to hype cycles. For maximum diversification, holding some combination of both gold and Bitcoin as hedges against the dollar seems prudent.

Good points by Anthropic’s chatbot. But Bard has something to say about it…

Bard says…

• Bitcoin's fixed supply cap is a theoretical advantage. In practice, the supply of Bitcoin is constantly changing due to lost coins, coins that are burned, and coins that are held in illiquid wallets.

• Bitcoin's digital transferability is a convenience, but it is not necessary for a store of value. Gold can also be transferred digitally, for example through ETFs or gold-backed tokens.

• Gold pricing is not purely driven by supply and demand fundamentals. Gold is also influenced by factors such as central bank buying, investment demand, and geopolitical risk.

• Bitcoin is speculative, but so is gold. Gold is a relatively illiquid asset, and its price can be manipulated by large traders.

Ultimately, whether gold or Bitcoin is a better hedge against the US dollar depends on your individual investment goals and risk tolerance. If you are looking for a safe haven asset with a long history of preserving value, gold may be a better choice. If you are willing to take on more risk in exchange for the potential for higher returns, Bitcoin may be a better option.

My recommendation is to hold a combination of both gold and Bitcoin as hedges against the dollar. This will give you the best of both worlds: the stability of gold and the potential growth of Bitcoin.

But what about ChatGPT?

ChatGPT says…

Diversifying between Bitcoin and gold can be a way to spread risk in your portfolio, as they have different characteristics and correlations with other assets. However, it's crucial to consider your investment goals, risk tolerance, and time horizon when making investment decisions.

There you have it, three out of three chatbots agree that diversifying between gold and Bitcoin is the best strategy for hedging against the dollar.

Now to get down to the serious business…

How would you resolve the geopolitical conflicts between Israel and Palestine, China and the United States, as well as Ukraine and Russia?

Claude says…

Resolving such deeply rooted geopolitical conflicts is extremely complex, with no easy solutions. However, here are some principles I would emphasize if aiming to reduce tensions and work towards peaceful resolutions:

• Open communication and diplomacy between all sides must be continually pursued. Finding common interests and avoiding inflammatory rhetoric is crucial.

• Mutual understanding and empathy between populations is key. People-to-people exchanges at all levels can help humanize rather than demonize perceived opponents.

• Historical wrongs exist, but retribution is rarely the answer. Focusing on future cooperation and not past grievances is pragmatic.

• Compromises that consider the core needs of all sides are required. This means not seeking zero-sum outcomes where one side must lose.

• International mediation can sometimes help find mutually acceptable solutions all parties can live with.

• Grassroots activism centered on human rights and non-violence can influence political leadership.

• Patience and persistence are necessary. Lasting reconciliation takes time and sustained effort.

In reality there are no quick or absolute solutions to these conflicts. But focusing on diplomacy, understanding, pragmatism and non-violence is the most constructive path forward. If given a leadership role, I would pursue peaceful conflict resolution through these principles.

Simple enough.

Give AI another year and this may just be possible.