A.I. Check

sgx2000

Has anyone else done the same as me?

I suddenly thought.. 'I will put all my financial details into Chat GPT and Gemini. (
Everything Cash,  ISA's, Pensions, Premium Bonds etc
What my risk level, age, etc
My thoughts / plans etc etc etc

And then asked it for the most logical way to use my assets in retirement.

The results were really reassuring.

I suppose my next step is to input my retirement spreadsheet and ask both to check the calculations, formula'a etc

Has anyone else done this or am I just a little nerdy?

GenX0212

Well you're reassured and none of us have the slightest clue what your situation or objectives are so might as well close the thread...

Vitor

- Has anyone else done this  - 

Yes, I find the AI/LLM very useful for this. Also I scan letters from banks etc. and get the AI/LLM to comment on what actions if any I need to take

SarahB16

sgx2000 said:     

Has anyone else done this or am I just a little nerdy?

I'm using AI to help with my forecasts (what is my LGPS AVC forecast to grow to over x number of years with an assumed investment growth of y and contributions of z per month) so I can balance that with contributions to a SIPP (for drawdown before I reach state pension age).  

One thing I would say with AI is that it can get assumptions wrong and if it is wrong tell it so it will learn.  AI is improving all the time in terms of its accuracy and it's definitely a helpful tool to use but a great deal of common sense/knowledge is also required so you don't take at face value what it says.,  

BikingBud

It's magic!

Perhaps look up confirmation bias.

af1963

If you don't already know the answer, how can you tell whether it is just returning plausible sounding errors ?

You need to subtract 5.11 from 5.9 and you asked an AI ... 

https://timesofindia.indiatimes.com/technology/tech-news/sam-altman-says-chatgpt-5-is-an-expert-a-small-maths-slip-shows-why-its-still-not-perfect/articleshow/123188241.cms

QrizB

sgx2000 said:

Has anyone else done the same as me?

Anyone? Almost certainly.

Me? No.

sgx2000 said:

The results were really reassuring.

You need to understand that large language models - what's generally touted as "AI" at present - don't do anything more than generate text that sounds like an answer. And they're modelled to sound reassuring, obsequious and subservient. So yes, I'm not surprised that the result was reassuring, but that's not the same as it being correct.

SVaz

I’d rather trust a calculator and my pen.
I don’t want to outsource my thinking, thank you very much. 

Bobziz

Resistance is futile, you will be assimilated...

But seriously, I've not used it to that extent, but do find it a useful additional source of information to help inform my thinking. It does get some fundamental things wrong, so you have to have a reasonable level of understanding to pick up these issues or at least ask pertinent follow up questions.

sgx2000

BikingBud said:

It's magic!

Perhaps look up confirmation bias.

Love it.....
And very correct..
Or am I confirming your bias???
But,  Future generations are definately screwed...

sgx2000

SVaz said:

I’d rather trust a calculator and my pen.
I don’t want to outsource my thinking, thank you very much. 

Agreed
But a cvery useful tool to confim you where using you calculator correctly