April 2024 Insights
AW constantly monitors the investment markets and aims to keep our valued clients regularly informed and updated. We aim to help investors cut through all the media noise and hype and understand what is really driving investment markets and portfolio returns.
In this edition, we cover:
The A to Z of investment terms.
What is Artificial Intelligence (AI)?
A to Z of Investment Terms.
Becoming a successful investor means getting your head around some commonly used investment terms. We’re here to help with this A-Z glossary.
Please click on this secure link to the Aspirations A to Z of investment terms
What is Artificial Intelligence (AI)?
Recent years have seen remarkable advances in the world of Artificial Intelligence (AI), the much-hyped technology that has exploded onto the global public consciousness. Propelled by the momentous rise of Open AI’s ChatGPT as the world’s most talked about new tech since Google, AI is being hailed as the disruptor of virtually every industry from information technology and finance to healthcare and transport.
AI is a machine’s ability to perform the cognitive functions we associate with human minds, such as perceiving, reasoning, learning, interacting with the environment, problem-solving, and even exercising creativity. You’ve probably interacted with AI even if you don’t realise it—voice assistants like Siri and Alexa are founded on AI technology, as are some customer service chatbots that pop up to help you navigate websites.
AI applied to real-world problems has serious implications for the business world. By using artificial intelligence, companies have the potential to make business’ more efficient and profitable. But ultimately, the value of AI isn’t in the systems themselves. Rather, it’s in how companies use these systems to assist humans and their ability to explain to shareholders and the public what these systems do in a way that builds trust and confidence.
In your portfolio you own a number of investments that benefit from AI. Such as: Microsoft, NVIDIA, Google and Amazon.
The following image shows the potential applications of AI in various business sectors:
Any advice contained in this insight/update is general advice only and does not take into consideration the reader’s personal circumstances. To avoid making a decision not appropriate to you, the content should not be relied upon or act as a substitute for receiving financial advice suitable to your circumstances. When considering a financial product please consider the Product Disclosure Statement. Aspirations Wealth Group is a Corporate Authorised Representative of Aspirations Private Wealth Pty Limited. ABN 57 622 182 076 – AFSL 503889.