🍳 Welcome to Over Easy AI, the newsletter that serves the tastiest AI news with a dollop of humor! Dishing out sizzling updates on the daily! Get comfy and join me on this delightful journey through the scrumptious world of artificial intelligence.

episode twenty-two

• Economist's Bet on AI Losing Steam

• Chatbot Picks Gold Over Bitcoin

• The ChatGPT Controversies

Economist's Bet on AI Losing Steam  GPT-4's Capabilities Surpass Expectations 🎰

Economist and bettor Bryan Caplan may lose his wager on AI, as he underestimated its capabilities. He bet no AI could score A's on 5 out of 6 of his exams by January 2029.

However, the GPT-4 version of ChatGPT surprised him by scoring an A grade on his undergraduate class's 2022 midterm exam, achieving a score of 73/100. With rapid AI advancements, Caplan's odds of losing are increasing.

While initially skeptical of exaggerated AI claims, he now recognizes the potential for larger and faster economic impacts. Although new technology adoption often takes time, GPT-4's achievements could represent a significant breakthrough in AI development.

• Open-source programmers worry about potential license violations by tools like GitHub Copilot.

• US Copyright Office rules AI-generated works not copyrightable but is still exploring human involvement criteria.

• The line between training and infringing on copyright is still being drawn

Training is the process of instructing AI models to recognize and extract meaningful patterns from data, which they use to make decisions. It is important to note that the AI is not copying the original author's work, but rather learning from the patterns in the data to create its own understanding of how to make decisions.

💰 Chatbot Picks Gold Over Bitcoin for a “Recession-Proof” Portfolio: Peter Schiff Applauds

Financial expert Peter Schiff has praised an AI chatbot, ChatGPT, for recommending a "recession-proof" portfolio of bonds, defensive stocks, precious metals and cash, but without including Bitcoin. Schiff argues that Bitcoin is a losing game, supported only by people buying it rather than by any real asset. ChatGPT's recommendation for a diversified portfolio is in line with Schiff's vision, with no mention of Bitcoin.

• Schiff praises AI chatbot ChatGPT for recommending a "recession-proof" portfolio without including Bitcoin.

• ChatGPT recommended a diversified portfolio of bonds, defensive stocks, precious metals and cash, citing their value during economic downturns.

• ChatGPT suggests that gold may be a better choice for those seeking long-term investment, while Bitcoin is seen as more of a high-risk, high-reward investment.

While some see Bitcoin as a hedge against inflation, Schiff argues that it is not backed by any real asset, leading him to regard investing in cryptos as a losing game. ChatGPT's recommendation for a diversified portfolio reflects Schiff's vision, as it excludes Bitcoin. The debate over Bitcoin and gold continues, with ChatGPT suggesting that gold may be a better choice for those seeking long-term investment, while Bitcoin is seen as a high-risk, high-reward investment. Governments' attitudes to crypto and potential regulation may also impact investors' choices.

The ChatGPT Controversies A Tale of AI Struggles and Triumphs 🤖

ChatGPT, a marvel of AI engineering, faces a slew of controversies as its number-driven creativity backfires, resulting in privacy violations and false accusations. Despite these setbacks, the potential for growth and improvement remains strong, and many believe that an AI winter is unlikely.

• Mayor threatens legal action after ChatGPT falsely accuses him of bribery.

• French digital minister claims ChatGPT violates privacy laws.

• Italy blocks ChatGPT over privacy concerns.

• Samsung workers inadvertently leak trade secrets to AI chatbot.

• A law professor is falsely accused by ChatGPT of a sex attack against a student.

While the ChatGPT saga exposes the current limitations of AI, it also highlights the potential for future advancements, such as better handling of sensitive information and improved privacy measures. The rapid development of technology and AI's growing role in various sectors make the prospect of another AI winter unlikely.

The ChatGPT story teaches us that AI, in its present state, still lacks the finesse of human intuition. However, as AI continues to evolve and learn from its mistakes, we can expect a future where technology and humanity work together in harmony. Let's not judge AI by its growing pains—there's still so much potential waiting to be unlocked.

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