Everything is Eggscellent!
Topics: ChatGPT and Eggs
#1 - What’s the Deal With ChatGPT and Microsoft?
In 2020, Microsoft announced that it had entered into a deal to acquire OpenAI, the company behind the development of the GPT-3 language model, which includes ChatGPT. The acquisition aimed to strengthen Microsoft's AI capabilities and integrate GPT-3 into its Azure platform and other products, making it more widely available to developers and businesses. This acquisition enabled Microsoft to continue the research and development of GPT-3 and other AI technologies. Furthermore, it helped OpenAI to further its mission of ensuring that advanced AI benefits all of humanity.
Hello fellow reader. You may have thought that was me in the first paragraph, but you are wrong. Apart from a few minor edits, ChatGPT wrote this entire previous paragraph for me. By doing this exercise, I wanted to showcase the power of ChatGPT. This is an extremely powerful tool and we are just beginning to see its true potential. Especially from a business perspective, this could be an invaluable tool for tasks such as forecasting or analysis.
Microsoft, who originally invested in OpenAI, wants to double down on its commitment to artificial intelligence. How so? The company wants to invest $10 billion in OpenAI to further expand its ChatGPT and DALL-E tools. To put into perspective how much OpenAI has grown in such a short amount of time, Robinhood reports that Microsoft’s “funding would value OpenAI at $29B, up from $20B in October”.
That is a 45% growth in value in just about 4 months. This is also pointed out by the Robinhood article, but this could give Google’s search engine a run for its money. There could be a new top dog coming soon (let’s see how poorly this statement ages in a year).
On a different note, I recently asked Michael Kevin Spencer, writer of AI Supremacy, about the potential impact of ChatGPT on the finance and business industry. He predicts that “It may significantly help investors though to find more info on companies and evaluate them better”. In my eyes, ChatGPT could eventually be a “terminal” for financial information. However, it simply cannot compete with something like Bloomberg Terminal for the time being.
I highly encourage you to test out ChatGPT. Ask it to do any challenging task for you and I can almost guarantee that you will be blown away. I certainly was when I first tried it.
#2 - Bye bye breakfast?
Finally, an opportunity to talk about my favorite meal of the day! In all seriousness, common food and drink options for breakfast are getting expensive. Specifically with eggs, their price is currently at never before seen levels. In the latest release by the Federal Reserve, the average price for a dozen Grade A, large eggs is almost $3.60. At the beginning of 2020, this amount was a mere $1.46.
So, what’s the deal? Currently, there is a widespread bird flu that is decreasing the supply of eggs in the United States. According to the USDA, “Nearly 58 million birds have been infected with avian flu as of January 6”. The lessened supply of eggs running in tandem with the heightened supply will certainly push the price of eggs upward. I guess that it is time to start storing your eggs like gold. On second thought, please don’t do that. You will thank me later.
This Week’s Links:
When Interstates Paved the Way: https://www.richmondfed.org/publications/research/econ_focus/2021/q2-3/economic_history
Economic and investment outlook for 2023 by top investment banks: https://serebrisky.com/2022/12/29/economic-and-investment-outlook-for-2023-by-top-investment-banks/
Weekly Leo Pic
