In late January, the world of artificial intelligence went mainstream when popular online media company BuzzFeed announced it was planning to use artificial intelligence software called API to help it generate content.
OpenAI, the company that created API, also made the more popular ChatGPT, released in November of 2022.
API and ChatGPT have been used to write emails and create quizzes and listicles. It has even been used to write reports on popular books and other essay-style assignments for high school and college students.
While we have all heard about the potential of artificial intelligence for years, BuzzFeed taking the plunge and using it to create content is a big deal.
For most of us, this is the first time we can say we are seeing the technology firsthand (well, at least that will be true when we see our first AI-created quiz or article).
Up until now, AI has to most people, just been a pie-in-the-sky idea that we weren't sure how it was going to affect our lives. Or how we would interact with AI technology on a day-to-day basis.
BuzzFeed using AI, makes it real now.
And now that it is real and not just a research project some technology company in California is spending money on, maybe now is a good time to put some real money into it.
Unfortunately, OpenAI, the creator of these AI chatboxes, is not publicly traded. But, a number of other companies are developing similar technology and are publicly traded.
However, since we are still very much in the infancy stages of AI technology, my suggestion is not to try and cherry-pick the AI winners today but bet on the idea that AI as a technology will prevail. The way to do that is with Exchange Traded Funds.
Exchange Traded Funds that buy companies developing artificial intelligence and robots will expose you to the whole industry but reduce your single stock risk. Let's take a look at a few ETFs that are focused on AI, and then you can decide which one is right for you. Continue reading "AI - Do You Have It in Your Portfolio?"