Face it, we could all use a little help with our money. So who better to ask for personal finance advice than a couple of the most powerful chatbots on the planet?
Both OpenAI’s ChatGPT and Google’s Bard are dominating headlines recently, for their generative capabilities and vast storehouses of information. Each has far more processing power than, say, any individual personal finance writer (ahem).
That in mind, we asked our AI assistants-slash-overlords these classic personal finance questions:
Can money buy happiness?
I couldn’t leave our new AI friends without asking a deeper question about money and its role in our existence.
ChatGPT admitted it can be a factor in a happy life: “Studies have shown that up to a certain point, increasing wealth can be associated with increased happiness, as it can provide access to basic needs such as food, shelter, and healthcare, as well as opportunities for education and experiences.”
But Bard was a little more declarative on the subject, that cash will not get us the ultimate satisfaction we are seeking.
“Money cannot buy you happiness itself,” it told me. “Happiness is a state of mind that comes from within. It is not something that can be bought or sold.”
What is one great business idea?
Entrepreneurs are always looking for the Next Big Thing. On this matter, ChatGPT was surprisingly specific: “One idea could be to start a subscription-based meal delivery service that caters to customers with specific dietary needs or preferences, such as vegan, gluten-free, or low-carb diets.”
Bard does not seem to like limiting itself to one option, even when asked to do so – it prefers lists. It threw out a whole slew of ideas, including dog walking, translation, “website flipping” and even working as a virtual assistant.
Give me one idea of a growing career field?
Many people seem to be switching careers these days – either of their own volition with the Great Resignation or forced because of lay-offs. ChatGPT tells me to consider the field of data science and analytics, specifically roles like data analyst and machine learning engineer.
Bard is a little broader in its suggestions, nudging me to consider becoming a nurse practitioner, software developer, social media manager or even solar photovoltaic installer..