AI Is Going Mainstream – Top Ideas From The My First Million Podcast

“Everyday I see a new incredible thing that AI can do that just blows me away.” Those are the words of My First Million co-host Shaan Puri on the most recent episode of the show, showing a seriously bullish attitude towards the use of AI.

It’s no surprise really, given how quickly the world of artificial intelligence is advancing and how many real world applications we’re seeing on a daily basis.

The most interesting thing about the recent explosion of AI powered applications and programs is the pure breadth of areas that are being covered. Obviously, as an AI powered investment app we’re no strangers to the powers of AI, but the technology is now being deployed in everything from manufacturing to logistics to media and even art.

My First Million Podcast is a hugely popular business and entrepreneurship show, and the hosts discuss a wide range of topics including business opportunities, failures, success stories and trends for the future.

When it comes to AI, both of these successful entrepreneurs see big potential, and they share a number of the most exciting and interesting applications using AI right now. We’re going to dive into some from the list, as well as a bit of insight as to how Q.ai is hacking Wall Street with our AI-powered investment app.

Dall-E 2

Natural language processing (NLP) is a process that allows for communication with artificial intelligence in human language. In simple terms, it means writing to a computer as you would write an email, rather than the need to learn code.

Dall-E 2 (and the Version 1.0 predecessor Dall-E) uses NLP to interpret instructions and create an image that matches. For example, you could give Dall-E 2 the instructions to draw a “pair or frogs riding motorcycles on mars” and the program will create an incredibly detailed and accurate image that looks just like what you asked for.

The quality of the images that the AI can create is nothing short of astonishing. You can check out the official Dall-E 2 Instagram account for a sample of some of the artwork it creates.

The organization who has created it, OpenAI, has stated that their mission is to ensure that artificial intelligence “benefits all of humanity,” and the applications for AI understanding human language are almost limitless.

Download Q.ai today for access to AI-powered investment strategies. When you deposit $100, we’ll add an additional $50 to your account.

Unreal Speech

Text to speech has been around for a while, but it’s always been unnatural and robotic. For many of us without much of a real world use for the technology, this might not be a big deal, but for people with vision impairments, it is.

Many people rely on text to speech to consume content as diverse as social media, the news, textbooks, novels and magazines. A realistic voice to text platform will allow them to experience content in a much more seamless and enjoyable way.

There are also significant use cases beyond that. One of the coolest ways that AI is used in the project is by analyzing voice data from anyone, to create text to speech to match a specific voice.

There’s a couple of amazing examples on the Unreal Speech website. One voice is the ‘Professor’ who sounds eerily like Jordan Peterson, and the ‘Entrepreneur’ who, for legal reasons, may or may not be (but definitely is) designed to sound like Gary Vee.

As Sam and Shaan discussed on the podcast, it would open up huge opportunities for content expansion into new markets. Podcasts could have every episode translated into different languages, with their same tone of voice and speech patterns.

The days of poorly dubbed movies and TV shows would be gone. We could see Squid Game with an all-Korean cast magically speaking English. Of course, it’s not magic, but AI can definitely feel that way.

Q.ai

High net worth individuals get access to services, products and features that regular people couldn’t even dream of. It’s not fair, but often it’s just the way that the world works. Investing is no different, and if anything it’s worse than many other aspects of life.

The wealthiest people are able to access strategies from large investment banks that are simply unavailable to the general public. Things like hedging, long/short strategies and thematic investing that can drive big gains, if you can get access to them.

This was the driving force behind the creation of Q.ai, which was founded by the late Stephen Mathai-Davis. Through the use of AI, Q.ai allows regular investors to access trades that have previously only been available to the elite.

Examples include pair trades, which simultaneously short one area of the market while taking a long position in another. It’s a way to generate returns even in a down market.

A great example of this is the Tech Rally Kit, which goes long on tech and shorts the Dow Jones. This means that even if the market goes down or stays flat, investors can generate returns if tech performs better than the market as a whole. We use AI to rebalance this trade regularly, to find the optimal mix for the best risk-adjusted returns.

Another example is the limited edition Microchip Shortage Kit, which looks to take advantage of a short term trend, the global shortage of semiconductors.

We also offer Portfolio Protection, an AI-powered risk detection system that not only responds to risk in the market, but can predict it too. When our AI prediction models identify upcoming risk factors, Portfolio Protection implements hedging strategies to offset anticipated negative impacts.

Just like Dall-E 2, Q.ai also uses NLP to analyze comments from places like Forbes.com, Reddit and YouTube. This generates sentiment data and helps gain an understanding of what people are saying about different stocks and topics, and how this might impact investment values.

Q.ai wasn’t on the list from Sam and Shaan, but it should be.

This Person Doesn’t Exist

The next on the list from the My First Million podcast is a website, thispersondoesnotexist.com which uses AI to generate hyper-realistic human faces.

It might sound strange, but the technology utilizes machine learning to analyze millions of examples of the human face and then generate random outputs that look exactly like someone you’d see walking down the street.

The website is a great example of just how early in the AI industry we are right now. There aren’t a great deal of practical applications for this technology, but it’s fascinating nonetheless.

These types of projects are allowing programmers to test the capabilities of their algorithms and constantly refine and pivot them for a huge number of use cases.

It’s not to say there are no uses at all for This Person Doesn’t Exist. As Sam mentioned during the episode, the site can be useful for times where companies want to add personality to their communications.

Testimonials are a great example, with the ability to put a face to some great feedback received from customers, when they might not want to have their real face on a company website.

The future of AI

It’s obvious that the potential for AI is huge. These are just some of the more unique examples of AI applications being used in the real world, but the full spectrum of uses already in the market is much wider than these.

Some examples include car safety systems like emergency braking and lane assist, personal assistant chatbots for customer support, farming, smart technology such as robotic vacuum cleaners, smart thermostats and of course the million different ways that our phones and apps use machine learning and AI technology.

As the algorithms improve and more and more data is fed into the systems, the technology will only get better and cheaper, making access more widespread all the time.

From an investment standpoint, the use of AI for regular investors is still a rarity. Many platforms and brokers still rely on a traditional approach to investing that hasn’t really changed since the 90s. This is potentially leaving significant returns on the table.

Download Q.ai today for access to AI-powered investment strategies. When you deposit $100, we’ll add an additional $50 to your account.