All everyone can talk about is AI

June 12, 2023

It's an interesting time in technology as we've seen AI come at full force to the point where it almost feels like that's all anyone can talk about. To its credit, it has done an incredible job at bringing a sense of wonder as we are in awe at its potential. Still, we're very much in the early innings and it's a technology that has delivered uneven results.

On one hand, we've had borrowers sign up because they found us via ChatGPT, likely from some articles we wrote a while back. As the language models and source material shifts towards being updated in real time, the likelihood of this being a great channel for inbounds is high. It's no stretch to imagine that someone somewhere is working on an advertising platform for this where intelligent and suitable answers are linked to companies if they pay to have themselves appear over others. Search as we know it is changing and it will only be a good thing to deliver better results.

On the other hand, we've had investors use Google Bard to try and see whether a deal or a company was considered a "good investment." The results were downright shocking, both for the investor and for us. Between lawsuits that never existed, allegations of fraud, bankruptcy filings that were fabricated, we initially thought we had missed something in our diligence. We even tried to recreate the investor's query to try and get to the same results and it was different every time. As many have begun to learn, these AI models are nothing if not confident even if they are incorrect.

AI will be a transformational technology, there is no doubt about it. The path to get there, though, will be rocky and with its fair share of misfires. We must be vigilant but also open to change. There are so many ways to integrate it into our platform and free up our time for higher value initiatives (e.g. chatbots), deliver a better experience for the user (e.g. extracting insights from our surveillance reports), or make ourselves more efficient (e.g. analyzing longform documents).

The AI revolution is here to stay - we're going to figure it out together 🙌