AAR54 - AI and Your Finances: Tool or Risk

0:00That's a great useful way to use AI and if it screws up what kind of might it is, then maybe I lose a couple tomato plants. If I ask it, you know, whether this house is affordable for me or not and it says yes and it's not, that is decades of financial work potentially ruined.

0:26good afternoon everyone and welcome back to at any rate and we are here to help you make sustainable financial changes without breaking a sweat and today i want to welcome back uh the man that can't prove that i'm not ai he has no proof of that whatsoever we have not met in person steven morris coast of the co-host of the investing for beginners podcast how are you doing today

0:43Stephen Morris:steven i'm fantastic and i think i can prove you're not ai but we'll get into that later okay okay this will be an ethics question that is where we'll we'll close this all out we might be crying by the end of this we don't know what you say we might be crying at the end we might be crying by the end of this yeah this could get emotional oh man i don't like crying bro it makes me sleepy okay we might be asleep by the end of this so the the the impetus for for what's driving uh today's episode is of course the fact i mean everybody knows about ai people have heard about ai a bajillion times um and we're not here to try and you know rehash what the heck ai is or the basics of it or anything like that that's not the goal of it today is is trying to focus on on how ai will affect you financially because in one way or another it will and trying to to figure out how to frame it as whether to frame it as a tool or a risk for you.

1:38I mean, even nowadays, I just saw recently that ChatGPT, I'm not sure if it technically can yet or will be able to soon, but ChatGPT will be able to link directly to your bank account, brokerage account, other financial accounts, and view everything straight into an AI chatbot. And so we want to figure out what does this mean and especially how it affects the average person. That's the whole goal of today. But before we start off, where do you see, Stephen, where do you see AI creeping into personal finance in general?

2:07Stephen Morris:You know, honestly, I've not even thought about it. I have heard like they're trying to make AI models to help you with finance and all that stuff, which I don't know. But yeah, to answer your question, I've not really thought about it. I would say one of the things my very first question upon like you bringing it up is, you know, AI is only as good as it's programming. so and anything can be hacked so that that's my very first question is what what safeguards would be in place but i know i'm getting ahead of the ahead of the ball here so yeah well no you're good because i mean that's that's one of the things that scares me the most too about it is of course there is a security side of things of you know who gets access to the chatbot and stuff but nobody really knows how ai works and i'm not saying that in you know as a conspiracy or whatever like genuinely people who train ai models including chat bt claude whatever don't know how it works they train it they they try to guide it in the right direction but what is actually going on on the back end is such a black box to them that the idea of you know having too much financial information in that black box sort of invisible to you of how you know where else it's going to pop up what else is going to affect who else it might end up to potentially that's all definitely pretty scary for me and you've already kind of touched on that but to kind of to kind of give an overview of the situation because this is a good you know kind of breaking story that is is a has a very direct effect on your finances if you use it um is that open ai announced that chat boutique can link to financial accounts using plaid it's a common common service online that allows you to link financial accounts or give access to a financial account from another service and its intent is to give chat gbt full transparency to to your accounts to the history of your accounts each transaction how much it cost when it where it was done when it was done blah blah all the information and the goal is of course to make the model as informed as possible and kind of based on the fact that if good data in good data out so if you give ai good data as much data as you can financially then hopefully you get good info out but i i don't know i'm definitely questionable on it i mean not only is there privacy and security like you already uh brought up no account and link can be perfectly secure that's just never a guarantee like you said everything can be hacked and if something like this is hacked then that's just it's just another another another vital pain point for you sort of that if people get in through you can have a problem and it feels like a massive leap to me.

4:51But also a feeling that I get from it is, well, let's assume that it's all secure, perfectly secure. While that is a lot of data for it to get, and that's fantastic, I still think it's missing a lot of information that would allow it to actually make good, educated, I don't want to say decisions, but like advice for you. Because realistically, that's where people are going to go with this is ask for financial advice. But it's not going to have your other financial history, your loan history, your credit history, your credit card history. And I'm not trying to imply that it should have all of that data, but I'm just saying that it feels like you think you're giving a lot of data, but there's still a lot more of the picture of you sort of that it's just not going to get.

5:31And so I kind of wonder, you know, is it even worth this security risk if you're not even giving it, quote unquote, that much data or enough data to really make informed or give you informed advice?

5:43Stephen Morris:well i mean there are there are two no there are three key things one what type of ai are we talking about because most people don't know there are three different main types of ai ani agi and asi is that the third super yeah artificial super intelligence yeah yeah so what we have right now chad gpt that's ani that's just basic language models and it can't do a whole lot of anything else like it's not running a space program anytime soon like it's just a large language model um so i mean if that's the case really all it's going to be good for is like helping you build a budget or helping you you know keeping an eye out for suspicious fraudulent type activity or stuff like that um the my main concern though really is for example if a very common practice in the entrepreneurial even large corporation space now is that emails are responded initially by ai

7:00Stephen Morris:And there's a problem with that to me because that that's one taking away the human contact, which is very important. And two, it takes away us learning the skill. So my point is if I have Chad GPT or Claude or Gemini or whatever platform you use, you're going, you're not going to be learning how to budget your skill or the budgeting skill because AI is doing it for you. You might have a general idea of what it's doing, but at the end of the day, you know, I can, I can get AI to code for me all day long. Does that mean I know how to code? Absolutely not. And the, and the third, and I think probably the biggest issue among all of everything is people don't really know how to use AI.

7:53Stephen Morris:one of the things i learned very early is ai is going to try to please me always you know is this a good podcast i give it the transcript and i say is this a good podcast oh yes steven this is fire and then you know i listen to it no it's not fire it's garbage and i you know i go back i'm like why didn't you identify all these problems or whatever and it's just going to tell me what I wanted to hear. A great example is I was trying to prove this exact point to my wife and so we took a discussion we had had over whether it's damaging to a combustion engine to start it multiple times a day to drive a mile and what to wear and tear.

8:42Stephen Morris:And the main part of that conversation was how it affects your gas mileage. and so she asked ai and i asked ai and it gave us both exact or completely different answers based on what we wanted to hear based on how we prompted it so if you don't know how to prompt ai how to talk to it and get it to give you like hey is it a good idea for me to go buy a a nintendo switch to ai is going to be like yeah sure like you can put in your budget because of this this this all you got to do is take away this and it's not going to give you like the the hard truth of you can't afford that right now or you need to put that on hold for whatever reason and that is that i think is probably the biggest concern for me is because unless people truly know how to talk to ai and prompt it it's going it's going to hurt them in the long run because they'll make bad decisions yeah i think i completely strongly agree with that whole it wanting to please you all the time thing because you know you you can explain it all day try to explain your story where you're at where you want to go what your financial goals are whatever and like you said it is going to find a way to to make it work it might tell you oh you know all you need to do is just go work some extra hours it's not actually going to make you work extra hours or it's going to tell you to get a pay raise to make it happen or it's going to tell you to cut back on something else but never actually force you to cut back on that other thing it'll find a way to make it work but that doesn't mean that you're actually going to find that same way or i mean frankly ai can get stuff wrong all the time too and so it can it can do simple math genuinely incorrectly and so it could add up your budget and say yep you're all good and then you do the math and you're like i'm short 500 and it's like whoops you're right my bad got that fixed now it's just it that's that's the kind of conversation that you have with ai and i think we're a very long ways away if ever from it really getting that full story and making genuine informed decisions a funny story about that is a friend of mine was building an ai app to be a dungeons and dragons dm for players and he asked me if i would play around with it test to see if i could find anything wrong with it and one of the first things i found is if i say no like i have this much experience it's like oh you're absolutely right i missed this this this and this and suddenly like you're max level in like two seconds and it's like i emailed him back i'm like yeah like i played for 10 minutes and i'm max level i have all this dope gear and yeah i'm done and so he's currently trying to figure out how to fix that problem because no matter what he does if he tells it i i have this much money or i have this much experience or whatever it's always going to agree with them it's never going to challenge them and so like it's just a case in point of what of a huge limitation to ai and last thing i want to say on that uh just ai wanting to agree with you all the time topic is that the end goal of pretty much any chatbot or ai platform is to get you to stay on there and so all they want to do is is make you feel good and make it easy for you if you go to the ai and you say hey can i afford this and they say no you can't you could maybe make you know do some do some of these other changes if you actually implement them but as of now you can't afford that that's not going to go well people are going to get a negative feeling about it if they go to the ai and it gives them all positive responses and makes it all roses and seems easy and frictionless for them then they're going to be so much likely likelier to have a positive link with that ai chatbot and want to keep coming back to it and that's just that's a sort of conflict of interest that that i don't really think is there yes the the ai chatbot that's a jerk to you but it's helpful to you would help you in the long run but especially with money it's going to take potentially years at least months but probably years for you to really see the positive effects of that and most people by then would just be frustrated and and see it as a negative and and that then they're just left in a worse place than they were before but to move on uh really quickly to now we want to discuss some of like the real genuine risk to look out for.

12:58Again, this is going to be pushed more and more from a lot of companies, a lot of different angles, and maybe it's something you want to kind of use a little bit, and we'll potentially discuss that later. But these are some things you need to kind of keep an eye out for. So one big thing for me, I kind of touched on before, is the more places that AI is linked to, the greater risk that there is that info slips from one stream to another. AI has memory, and in a lot of ways, that's incredibly useful. I understand the use and utility of AI having memory from one conversation to another. But when you're talking about deep financial info or the fact that you bought Chipotle and you got guac again today at lunch, and it having that across conversations, potentially, that's just a huge security risk again.

13:44Also, as of now and on the horizon, really, there's little to no regulation on AI and what it can do, what it can't do, what it's not allowed to do. and I'm sure that it linked to financial institutions, they're going to try to regulate it at least a little bit, I would hope. But unless they're actually regulating the chatbot itself, which they're definitely not going to, and when AI isn't going to give them access to that, it's still sort of a whole Wild West situation. It's not like it's built into your bank and siloed off in your bank or something like that. This is a third-party service that is going to have access to it.

14:19Another thing, again, we touched on a bit before is that hallucinations become even more dangerous. If you're asking it, what size bolt you need to hang your TV on a wall and you screw it up, yeah, you might have a screwed up TV and that would suck, but it would be a lot worse if it gives you incorrect financial advice and tells you you can afford something you can't. That can financially ruin you genuinely. And that can last for years, decades, or even the rest of your life financially. And that is absolutely horrifying. and AI can sound incredibly confident while it does it. It will give you the math.

14:53It'll give you equations. It will give you explanations, whatever. And like Steven was saying, if you disagree with it, it'll just say, oh, yep, you're right. Let me correct that equation real quick. There's nothing holding it to what it says, but it's going to initially come out so confident that you're just going to want to believe it. And then the last risk I see is, again, kind of touched on before, not even AI companies like OpenAI entirely understand how their AI works and trying to, before that's even entirely understood, trying to expect that black box to start handling your finances and help you make financial decisions.

15:29I mean, that's, that's just a fool's errand for me. That is silly and dangerous and that scares the crap out of me. And I think it should scare the crap out of you too. But are there any other risks you think I missed here, Steven?

15:40Stephen Morris:No, I just want to like at the top of your, on your show prep over the section, you have never here to fear monger. And I think that's, that's a key point to don't get me wrong. I use AI all day, every day. Um, it controls my calendar for me. Um, it controls my to-do list. It's, it reads, it'll read this, this, the transcript of this and try to discern if I have any to-dos that come out of it and it'll add it to my to-do list. And then it'll time block that to do later on in the week. So I do it. So, I mean, there are tons and tons of ways I use AI. Well, you know, I use it to help me build slide decks.

16:23Stephen Morris:I use it all kinds of stuff, but, and I even use AI to have it to help me research. But at the end of the day, I'm never letting AI make decisions. And I think that's, that's where kind of where, where you were going with all of the real risk factors there is why AI is going... The way I think you and I both feel this trend would go right now is AI would end up making financial decisions for you. And that is just a dangerous, scary place. Cause I mean, you know, I ask AI if I should sell my business one time and it's like, oh yeah, it's, you know, valuation is this. And it's like, where, where did you get this valuation from?

17:17Stephen Morris:Like, and I mean, just, you know, we, we've seen people try to use AI as a lawyer and that does not work out well. I mean sure it can it can read a law book in two seconds and it's still going to get facts wrong so yeah we're not here to fear monger but but these are definitely everything I've enlisted they're definitely things you need to be thinking about and figure out if you are personally okay with yeah I agree with the it's it's not it's not doomsday it's not that AI is the devil and is going to ruin you financially because this is happening but I do think that it's I mean a lot of people nowadays, like you said, overall, or at least in a lot of ways, I am pro AI.

18:00I'm not overall anti AI, but I also am definitely aware of how the vast majority of people trust AI, especially, you know, say you're super busy. So many people are incredibly busy with their jobs. It's a tough economy, all that sort of stuff. The idea of being able to just not even hand stuffed, but just give a link to a chat bot and think or feel like it's able to now help you financially. And that takes so much weight off your shoulders. You don't have to listen to any of these other episodes because you don't have to learn how to budget. You don't have to learn how to plan for a big purchase.

18:34You don't have to learn any of that or any of the financial terms. You don't have to learn anything. You can just, you know, ask a chatbot, hey, you've already got everything you need, right? Okay, tell me how to go about this. That's tantalizing. That seems like it has a lot of upside. And the idea of people being willing to do that scares the crap out of me Because that's, I mean, depending on what the decisions are, you listen to that chatbot incorrectly, wholeheartedly one time, it could screw you up for quite a while.

19:05Stephen Morris:Yeah, and to that, like I'm saying advertisements for like, let this AI bot run your portfolio for you. And it's like, no. And to your point earlier, you know, one, we don't entirely know like where AI gets everything from. So AI could be talking to AI. So how do we regulate AI from committing insider trading at that point? So if a company is using AI, their AI knows company, you know, SpaceX is about to do this. and so it's like okay it tells my ai that's running my portfolio this thing and now it goes and buys a ton of shares and and spacex and holy crap i just committed insider trading without even knowing that i committed insider trading and like you can't regulate that and then i think just a great example of ai getting basic stuff wrong i was using it to help me research a company i was researching uh for for the ifp podcast and i asked it to to read the the 10k for this company and i know in like in my brain i know it's a because it's a foreign company so it's not a 10k it's a 20f and ai didn't correct me and so i but uh fortunately as i was reading it's like oh it's a 20f but yeah i shouldn't and i know that like shouldn't ai like correct me and be like hey you called it a 10k but it's actually a like just that basic of a thing and it's not going to do any damage except make me sound like a complete idiot on on air but i mean imagine if that was a ten thousand dollar mistake something that simple ai is just gonna Yeah, you're good.

21:07Stephen Morris:And nah, nah, bro. I ain't down with that. Yeah, that's where, like, we've had episodes before discussing financial advisors. And while overall, I don't think that the vast majority of people need financial advisors, that's just my personal point of view. If you are in the camp of, I don't have time to deal with any of this, I need somebody or something to help me, I would strongly, strongly recommend you look into financial advisor before, or never then look into, using an AI chatbot or something instead. If you need help, that's completely okay and understandable, but get help from an expert human in that field.

21:45Do not trust an AI chatbot that is really good at sounding confident and educated. We are not there yet. And I say yet tentatively because I don't know if we'll ever be, but I'm certain that right now we are not there. And just trust a human to do that, please.

22:02Stephen Morris:Yeah, and if you need help learning how to budget, we have an amazing spreadsheet that'll help you do that, right? Yep. Yeah. This free spreadsheet, a very simple to use, easy to use. einvestingforbeginners.com slash budget. einvestingforbeginners.com slash budget. I do not always love saying that URL, but it's a lot easier to type in as to say. So to kind of reframe that and talk in a more positive manner, let's talk about places that AI can actually be useful. And we've talked about this a little bit. But for me, one of the biggest things, And one of the things I do love AI for, and that includes discussing financial matters, is trying to explore other points of view or options that I just don't see.

22:42Every situation that we want to make a decision on or we're researching or whatever it is, there's always other points of view and there's always other options out there. And we pretty much always have tunnel vision to our experiences, our situations, the positives we've seen, the negatives we've seen. and I mean that even bleeds into you know the bias of this whole conversation as a whole AI is great at looking at whatever your point of view or current decision is and saying okay well there's these other options out there it can you know access so much information out there so many other people's information and compile that and and show you other ways to look at things that you didn't initially have and so for me this is huge for again just basic financial planning I'm not expecting it to understand everything i have to do the legwork to to frame to frame and also deeply understand where i've been where i'm at and where i want to go but i can give it just a basic scenario and say hey what are the options here i'm thinking about this but is there something i'm missing and it's fantastic it's saying hey you could be doing this this or this and then i can now take you know those additional two or three options and and rank them based on my own personal decisions and preferences.

23:57And I think this is a fantastic way to go about it that doesn't give it too much control, but also kind of leverages its ability to just compile a crap ton of information basically instantly. Another is once you have those scenarios, it can be helpful to model things. This I feel a little bit less, you know, gung ho about because like we talked about before, it can make basic mistakes on math. So you always have to double check everything, but especially if it's a complex scenario it can help give you a ballpark number or at least lead you in the right direction that you can then double check the math yourself for example it's good at working out those scenarios like you know if i went this way versus this way what would it look like 50 years from now and it can try to factor some stuff in try to do the math i can review it and now i have a much easier avenue to to reach my end end understanding than if i had done everything from scratch myself and to just be transparent i've used it in certain parts of everything from our home purchase to home improvement purchases to electronics that i've bought like there are so many aspects of my life where i've used ai to basically just sniff out things that i've missed or look again look at other points of view or aspects of things that i'm just missing and just give me more data to review myself or more points of view to review myself i would always caution against it ever making any kind of final decisions or leading you in a certain direction, but it's very helpful if you're just, you know, especially when we're going through our home buying process, it is so overwhelming.

25:28There is so many, so many things to look at, so much math to do, so many forums assigned, so many people to talk to, yada yada, that you just, you kind of get analysis fatigue from going through that process. And sometimes you just reach a point where you just need, you realize you're missing something, you know, you're missing something, but you know what it is and you can you know tell ai hey this is a situation i'm looking at you know what are what are my options here and now you just get that bit of a bit of a refresh and bit of help from there so those are ways that i think it's incredibly useful and more or less safe to go about using it and if it gives you crap info then you know when you review it you skip all of its crap info and stick with your own and that's completely fine um but but what are some other ways that you've used AI with your finances.

26:14Stephen Morris:So I want to preface this by saying, and I'm, I think it's with all AI models. I haven't used them all, but most AI models have the ability, uh, like with Jim and I, it's called a gym where you can make rules for your AI, uh, bot to where it never does specific things or always does specific things. um so i have trained my ai models to for one never be kind to me like it's it's never trying to please me um it's always and i don't remember exactly how i worded it but something along the lines of it's always trying to prove me wrong um and but at the same time if it can't find a logical reason that i'm wrong then yeah it'll you know give me what I'm looking for or whatever but I've taken the time and it's taken me years to get my AI to do that um but with that being said I still don't it doesn't make financial decisions it doesn't budget for me um I use a very complex spreadsheet for my budget and I absolutely love it um i i didn't create it but uh it's it's an amazing spreadsheet where i can see down to the scent where my money is going and so i mean i might download that it's all in excel i might download one of those excel pages and and say like look this is my math make sure i'm correct and for the most part like the spreadsheet's all automated so it's it's not going to get it wrong anyway because it's all algorithm and automation and all that stuff but there are some times where i needed to double check my math and make sure i'm doing whatever correctly or like you said if i'm missing something i can't figure out like i'm missing 150 bucks where did that go and so i'll give ai the information like figure out where this is because i can't find it um and then just like i said simply checking my math that's probably the most important thing but again ai can get math wrong which blows my mind because that's its main function like how do you how do you screw this up bro but i mean it's a great double check of the work i'm doing um but like you said also it all comes with a grain of salt because i'm very well aware ai makes mistakes and so it's like okay you you missed the ball completely on this go away you're fired for the day i'll figure it out myself um but yeah that's the main way i use ai yeah i think the the way that that i agree with you is you just need to look at ai if you want to use it safely you have to look at ai as a tool it's the same as you know google sheets microsoft excel fantastic freaking tools that can be exceedingly helpful helpful for you it is not going to do everything for you and but the difference with a tool like that is that's obvious to you up front you open up a blank spreadsheet clearly it hasn't you know figured everything out for you but it is a fantastically powerful tool that if you learn it and figure out how to use it can do great things for you and ai is just the same thing except it gives you sort of a facade up front that it can help you and will help you will do everything for you some some other ways uh to try and be safe about it if you're going to use ai completely understandable like we're saying we we use it a ton in a ton of different ways but there are some some great easy guidelines that you can follow to just do that safely.

29:58First off that, that I definitely follow religiously is don't upload any sensitive documents that aren't publicly available. If you want to show it a picture of a mole, okay, no big deal. But if you want to, you know, show it the deed to your house and ask it a question about, just don't give it anything that you wouldn't be comfortable essentially being leaked or, you know, info about it, making it elsewhere. Just describe the situation. I know it's annoying. There are a million times I haven't wanted to type something out, but the way I see it is it's 20, 30 seconds of typing something out. Even if it's, you know, a four paragraph long prompt, who gives a crap?

30:32Just type it out. And that 30 seconds or a minute is going to save you a lot of risk. And the risk that we could be talking about could be very, very scary depending on what actually happens. So just take that little bit of time. Another is that I've seen a lot of suggestions online that I don't personally do, but a lot of people suggest turning off memory. I know that that's kind of spooky for people, not to minimize it, but spooky for people to see something that they talked about previously show up elsewhere, and they're scared of where else it could show up. People talk about turning that off.

31:04I don't for two reasons. The first is that I just frankly find memory very, very useful, and I think it saves a ton of time as long as you're, again, careful of what you say. As long as I haven't given it the deed to my house in a previous conversation, if it knows that I'm trying to, I don't know, cut back on white rice at Chipotle, I don't give a crap. That just helps me not have to re-explain that I'm trying to cut back on white rice at Chipotle in the next conversation, which somehow comes up a lot, I guess. Number two is that I think that it's just very conspiracy-oriented to try and turn it off.

31:37And frankly, just honestly how I feel, I don't believe that toggling a setting in the options of a platform actually requires or obliges that company to follow that, so to speak. And I'm not accusing any company of, you know, not following the settings of the user or anything, but I just have a hard time believing that a colorful toggle in a settings page is the end-all be-all of how a platform is going to function. And it's just like any other platform. If you delete your Facebook account, for example, that data still is somewhere. Somebody indexed it, or multiple people probably indexed it somewhere, and it's accessible to somebody.

32:17Nothing completely disappears on the internet. and I sort of see AI the same way and I'm not an AI expert so I'm not saying that that's you know that that's 100 % truth but for my own sanity to try and use it as safely as possible I see it as just like any other part of the internet where nothing I try to do is going to completely cleanse everything and so I just need to make sure that whatever I give it doesn't need to be cleansed whatever I give it is is essentially safe from my point of view another is just basic use multi-factor authentication please to protect your logins so somebody can't just get in immediately get info whatever they wanted um and then the last obvious thing i'm gonna repeat one more time is just never 100 trust ai responses for for me you know i've asked a ton of gardening questions i've been having having some gardening issues trying to work through those and i ask it a crap ton about of like gardening questions you know is this a is this a what kind of might is this because it appeared here at this time of day whatever that's a great useful way to use ai and if it screws up what kind of might it is, then maybe I lose a couple tomato plants.

33:21If I ask it whether this house is affordable for me or not, and it says yes and it's not, that is decades of financial work potentially ruined. But are there any other pieces that you think I missed?

33:35Stephen Morris:I think one thing people need to understand as far as the conspiracy type stuff, just because you aren't using AI doesn't mean your information not going to AI. For example, if you use the Kroger or the Publix or the Ingalls Frequent Shopper Card, whatever they call it, the reward. Oh, you do? Yeah, I love Ingalls so much. Ingalls Corporate was my first job. Oh, really? Great company, dude. Great company. I love Ingalls to death. I miss working for them a lot. Great company anyway that's awesome but you know which kind of gives me an insider look to all the information they gather just from that little card and that like before ai was even a thing like that was getting fed into algorithms so you know those coupons that prints out for you at the cash register those are different based on each person really i didn't know that based on what you've bought in the past, who you are, what your age is.

34:45Stephen Morris:If you're a 60 year old man, you might be getting some of those insure protein shake things that are supposed to help elder, you know, older aging people, um, with whatever. So, I mean, like it's all, all of that is customized for the shopper and they get that by all that information they take just from scanning that card. And you agree to it when you fill out the little card. You got to check a little box and you've agreed that they're allowed to collect this data on you. And Ingalls doesn't do it. I'm not sure about Kroger's or Publix, but there are a lot of companies that sell that information to third parties.

35:27Stephen Morris:And it's not nefarious. It's a great example. I asked AI something about one of our newest sponsors, the perfect gene which i'm wearing the perfect gene shirt i love i love them their products um but i i was needing to to write something and i asked ai to help me i opened my phone and the very first thing i see is the perfect gene like and i was you know like come on man like stop talking to each other it's freaking but i know you have all had that where uh you know your phone listens to you like everything listens to you everything tracks you the the fact of privacy is an illusion nowadays and i'm not trying to freak people out i'm just being honest like don't don't hurt yourself by not using ai because you're scared of it just do it smartly i guess is all i'm saying because your information is getting out there anyway.

36:29Stephen Morris:So do I upload the deed to my house? Absolutely not. Do I upload financial bank statements? Absolutely not. But, you know, am I scared to tell it what my budget is? Again, absolutely not. Yeah. Any info like that just doesn't matter. So like, if you had a question about your deed, just describe, you know, what the heck does this field mean? What does this mean? Is this a problem? You know, what do I look up based on this or whatever? You just don't give it, special identifying information for it. I mean, it's the same as, say you have a financial advisor and you're asking them questions, you're completely fine with being transparent with them about this or that, or maybe you're even okay with them having control of your brokerage account, but you still have complete visibility to it.

37:12First off, that's a human. Of course, it's different, but also you would never just hand it over to them 100%, no visibility to you, just say, here it is, bring it back to me 30 years with a lot more money in it. You wouldn't do that because we're used to the sort of the general rules of engagement of dealing with that kind of stuff and there's just different