Inside the AI Toolbox: The Fear Index, Money Makers, and Voice Clones

Hello 👋

This is The Copilot - We’re the substance-over-hype AI newsletter.

You get thoughtful analysis, not recycled news, and links to other websites.

It’s Wednesday, May 31, and we have six fascinating topics to cover.

😅 AI Fear & Greed Index

⏰ AI Time Saver (& Money Maker) - ChatGPT Plus selects a credit card for you.

⚡️ AI-Disrupted Business Opportunity - Inclusive Recruiting (with Steve Jobs voice clone pitch)

👏 AI Research & Products

🎨 Can’t believe human + AI co-created this :)

🌶️ Spicy AI tweets

😅 AI Fear & Greed Index around May 31, 2023

Your weekly barometer¹ of global sentiment towards AI, capturing our hopes and fears on a scale from 0 (all dread) to 100 (pure gold rush).

👍 The Good - New superbug-killing antibiotic discovered using AI (BBC, May 25, 2023)

👎 The Bad - Lawyer cites fake cases generated by ChatGPT in legal brief (Legal Drive, May 30, 2023)

🤣 The LOL - AI tool helps couples write wedding vows as marriage expert warns, ‘Be cautious’ with technology (New York Post, May 31, 2023)

1 This index is created by analyzing hundreds of content pieces using natural language processing.

⏱️ AI Time Saver (& Money Maker) - ChatGPT Plus selects a credit card for you. 💳

Disclaimer: Please do your own research before getting a credit card. The prompt here is supposed to spark ideas and help you compare credit cards based on personal situations. I am not a financial advisor, and keep in mind ChatGPT ‘hallucinates‘ and can often get things wrong.

Welcome back to the AI Time Saver corner, where we swap drudgery for a dash of fun and a sprinkle of efficiency.

So, picture this:

You're sitting at your desk, countless tabs open, each with a different credit card offer.

Your eyes are glazed over, your brain is mush, and you're starting to see APR percentages and reward points in your sleep.

I mean, who knew there were so many choices out there? And who knew it would be so hard to figure out which one suits you best?

So this week, share the ChatGPT prompt, which will help you solve this headache!

All it needs from you is a bit of info about your spending habits and the specific details of the cards you're considering.

Are you big on travel or love a bit of online shopping? Or maybe you're all about pinching pennies. Share this with ChatGPT, and then step back to watch the magic happen.

No more long hours spent comparing cards and trying to make sense of the small print.

ChatGPT takes your input and matches you with a card that suits you best.

It's like having your own personal finance guru right at your fingertips!

Let’s do this step-by-step.

Step 1: I went to CNBC website to find credit card details. For each card, I copied the text that says: Who’s this for?

Step 2: Use the prompt with the credit card information and run it on ChatGPT 4. Below is the prompt (it’s a long prompt because it has all the credit card information)

The Monster Prompt

Act as a personal finance expert, who specialized in analyzing and reviewing credit cards. 
I will give you the following: 
1. Details about several different credit cards (CREDIT_CARD_INFORMATION)
2. Criteria to analyze the credit cards based on my personal preference.
3. You will create a table so that it is easy to compare all the cards. The columns of the table are:
a. Credit Card Name
b. Rewards 
c. Annual Fees
d. Welcome Bonus - Make sure to identify and list it for comparison purposes, even if it varies.
e. Expected Reward - In a year if I spend $12000 on groceries, $6000 on travel and vacation, and $12000 on everything else. Where credit card talk about points, typically 100 points is $1, Based on the reward, try to come up with an expected dollar amount that might be rewarded to me by the credit card.
e. Fit score - This is the score from 0 (not a good fit) to 10 (great fit) for each credit card. I care about the following in a credit card:
i) Maximum Cash Back - Make sure you normalize rewards across cards to come up with the score
ii) No or low annual fees
iii) Maximum expected reward
f. Fit score rationale - Give 1-line description on why you came up with the fit score.
4. After the table. For each card show the math you used to calculate the estimated reward column.
CREDIT_CARD_INFORMATION:
"""1. American Express Gold Card
Who’s this for? If you love food, the American Express® Gold Card could be the ideal rewards card for you. Whether you dine out or cook at home, this card earns a competitive 4X points per dollar spent at restaurants and 4X points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X). Plus, travelers can benefit from the 3X points on flights booked directly with airlines or on Amextravel.com.

The value of Membership Rewards® points varies depending on how cardholders redeem them. You can use them in a variety of ways, from paying with points at checkout at retailers like Amazon to redeeming for gift cards or a statement credit to booking travel. (See more on how the value of points is calculated.)

Cardholders also receive an annual dining credit of up to $120 ($10 a month) at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations (enrollment required). Terms apply. There are also *no foreign transaction fees.

This card does have a *$250 annual fee, but it can be reduced to effectively $130 if you take advantage of the $120 dining credit each year. Then, the rewards you earn help further “pay” for the card.

Gold Card members can also participate in Amex Offers, where you can earn statement credits or bonus Membership Rewards® points at select retailers. For example, an offer for Wine.com states: “Spend $50 or more, get $10 back.” These limited-time offers are location-based and additional terms apply.


2. Capital One Venture Rewards Credit Card
Who’s this for? The Capital One Venture Rewards Credit Card offers the best rewards rate on select hotel purchases: Earn 5X miles per dollar on hotel and rental cars booked through Capital One Travel, which is a great flat rate. Plus earn 2X miles per dollar on every other purchase.

While Venture does come with a $95 annual fee, it’s low compared to some other rewards cards, with some annual fees up to $550.

In addition to rewards, every four years cardholders receive a credit for a Global Entry or TSA PreCheck application, up to $100. Cardhodlers also receive two complimentary Capital One Lounge visits per year or to 100+ Plaza Premium Lounges through the Partner Lounge Network. If you travel often, these are a great perk that can save you time and money.

This card has no foreign transaction fees and comes with a bunch of additional travel perks, such as 24-hour travel assistance services and an auto rental collision damage waiver.

3. Chase Freedom Unlimited®
Who’s this for? The Chase Freedom Unlimited® Card, our top cash-back card, is ideal for anyone looking for a simple way to maximize cash back on everyday spending. Cardholders earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on drugstores and dining at restaurants (including takeout) and 1.5% on all other purchases.

If you want to maximize rewards within the first few months of account opening, there’s a generous welcome bonus: On up to $20,000 spent in the first year, cardholders earn an additional 1.5% on all categories.

This card has no annual fee, and you can benefit from a 0% APR for the first 15 months from account opening on new purchases and balance transfers (after, 19.74% - 28.49% variable APR). There’s an intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that it’s either $5 or 5% of the amount of each transfer, whichever is greater.

4. Best for luxury travel
Who’s this for? If you’re a frequent traveler looking to make your flights and hotel stays more luxurious, the Chase Sapphire Reserve® should be on your radar. This card is geared toward frequent travelers, offering points on dining and travel worldwide and no foreign transaction fees.

The value of Chase rewards points varies depending on how you use them. If you redeem points for cash and gift cards, each point is worth $.01, which means that 100 points equals $1 in redemption value. (See more on how the value of points is calculated.)

When you use points through Chase Pay® for a statement credit to cover all or part of a purchase made at participating Chase Pay® merchants (Amazon, for instance), each point is worth $.008, which means that 100 points equals $.80 in redemption value. Redemption values for other reward options may be worth more or less than this.

The value of points increases 50% when you redeem for travel on Chase Ultimate Rewards®. For example, 60,000 points are worth $900 toward airfare, hotels, car rentals and cruise reservations when you redeem through Chase Ultimate Rewards®. This is a great way to maximize the value of your rewards and makes this card stand out from the pack.

You can get even better value if you transfer your points to one of Chase’s travel partners. For instance, you’re likely to get the best value by moving your points to loyalty programs such as World of Hyatt and Air Canada Aeroplan. That said, you need to do your research before transferring points since the value can also drop when transferring to certain travel partners, like IHG One Rewards.

While this card offers great rewards and benefits, it does come with a hefty $550 annual fee. However, if you take advantage of all the annual credits, you can come out well ahead of the fee. There’s an annual $300 travel credit, as well as a $100 credit for Global Entry or TSA PreCheck application fees cardholders can redeem every four years. And the Priority Pass™ Select membership, which gives you access to more than 1,000 lounges in 500 cities worldwide, has a value of about $429.

If you’re worried about this card’s high annual fee, you might also want to look into the Chase Sapphire Preferred credit card. At $95 per year, you’ll still earn solid rewards rates on travel and dining, your points will be worth 25% more when you redeem them on qualifying travel purchases through Chase Ultimate Rewards, and you can transfer points to the same partners.

5. Blue Cash Preferred® Card from American Express
Who’s this for? The Blue Cash Preferred® Card from American Express is a great choice for anyone who regularly spends big at grocery stores and gas stations. The rewards program is tailored to these purchases and offers some of the best cash-back rates available.

Cardholders who have cut the cord can also take advantage of high cash back on select U.S. streaming services (6%). The list of eligible streaming subscriptions is longer than most, including Audible, Kindle Unlimited, MLB.TV and more.

In addition to cash back, cardholders can earn statement credit at select businesses through Amex Offers. For example, you can spend $75 or more and get $15 back at Jane restaurant in New York City. These limited-time offers are location-based and additional terms apply.

While cardholders only earn 1% cash back for travel-related purchases, you can benefit from travel perks, such as car rental loss and damage insurance*. However, this card isn’t the best choice for traveling outside the U.S., since purchases made abroad incur a 2.7% fee. (See rates and fees).

Also, wholesale clubs like Costco and superstores such as Walmart and Target aren’t considered eligible grocery stores on the Blue Cash Preferred. If you frequently shop at these retailers, you might want to look at their respective store credit cards.

6. Citi® Double Cash Card
Who’s this for? The Citi® Double Cash Card is a solid choice if you’re looking to maximize your money without having to worry about rotating rewards categories or joining a credit union. Earn 1% cash back on all purchases and 1% when you pay off your bill.

There’s no annual fee and an easy-to-use cash-back program with no activation required and no limit to how many points you can earn. Cardholders can redeem cash back for checks or statement credits once they’ve earned $25 worth of points. Plus, if you forget to pay your card, Citi will waive your first late fee. (Though we always recommend you pay off your card on time and in full each month.)

The Citi® Double Cash Card offers cardholders a 0% APR for the first 18 months on balance transfers initiated within four months of opening an account. After the intro period ends, there’s a 18.99% - 28.99% variable APR.

In addition to the cash-back rewards, there are a number of special cardmember programs, including Citi Entertainment℠, which gives cardholders first access to purchase tickets for thousands of concerts and events. The card also provides access to Citi® Identity Theft Solutions, a service that will help you if you’re a victim of identity theft.

7. Prime Visa
Who’s this for? Frequent shoppers on Amazon and at Whole Foods will want to look into the Prime Visa. All purchases made by Prime members at Amazon and Whole Foods get a robust 5% cash back. The card also offers a $100 Amazon.com gift card upon approval as a one-time bonus.

In addition to the generous 5% cash back at those two retailers, the card gives users 2% back on purchases made at restaurants, gas stations and drugstores and 1% back on all other purchases.

As the name implies, you must have an eligible Prime membership to apply for this card ($139 for an annual membership and $14.99 for a monthly membership). If you don’t, opt for the Amazon Visa, which doesn’t require a Prime membership and still offers 3% cash back at Amazon and Whole Foods."""

A few things to note:

1. Make sure to do your own analysis before getting a credit card purely on this information.

2. OpenAI says it is a best practice to provide input in 3 double-quotes - “““<data>“““</data>

3. Provide clear instructions. We list column-by-column what information we want ChatGPT to return.

4. For this prompt, I used ChatGPT 4.

5. At the end, we request ChatGPT to share the Math behind Expected Reward.

6. Consider this prompt as a copilot to help with analysis and not to do the analysis.

⚡️ AI-Disrupted Business Opportunity - Inclusive Recruiting

This section was added based on readers’ feedback.

In this section, we do three things:

1. Share a hot business idea that AI enables

2. Give you a head start by filling in The Business Model Canvas for this idea. BTW - The Business Model Canvas is like a blueprint for your business - it's a one-page chart that lays out what you do, how you do it, who you do it for, and how you make money from it.

3. 🔥 Not Steve Jobs Marketing Pitch. Listen to how Steve Jobs would have pitched this idea. Please keep in mind this is based on cloning Steve Jobs’ voice using ElevenLabs.com software. This is not an actual presentation by Steve Jobs. Enjoy the presentation audio at the end :)

Hope you're ready for a hot business idea straight from the oven of innovation.

It's time to sit up and pay attention to a massive opportunity lurking in the most unlikely place - job descriptions.

Yes, you read it right.

The humble job description.

You see, most of these descriptions, albeit unintentionally, carry unconscious biases.

They might use language that leans towards a particular gender, age group, or ethnicity, thereby shrinking the pool of potential applicants. Not cool, right?

Here's where the business idea pops in.

What if we could de-bias these job descriptions, making them more inclusive, thereby attracting a more diverse set of candidates?

It's a win-win; companies get a wider talent pool, and it's a step forward towards a more inclusive workspace.

We're discussing leveraging AI, specifically Large Language Models like ChatGPT, to de-bias job descriptions.

BTW - This isn't some fancy, untested idea.

Companies like Textio are already doing it, and they've raised $40+ million. So, the market is out there!

Now you might ask, "Why ChatGPT?" Well, it's the gift that keeps giving!

It's advanced, cost-effective, and with the right training, it can parse through the job description, pick up biased language, and suggest more neutral alternatives.

The good news 👇

You don't need a team of rocket scientists to get this going.

Just your entrepreneurial spirit and a bit of AI know-how.

Imagine the impact of your service.

You'd help companies bring in better candidates and more of them.

It's like turning the dial-up on their recruitment process while helping to create more equitable workplaces.

🙌 It's one of those rare opportunities where doing good meets good business.

So, there you have it.

A killer idea with proven market potential, social impact, and all made accessible by AI.

The Business Model Canvas

And to lend more of a helping hand. I went ahead and started filling out The Business Model Canvas for you.

Now just go execute 🙌

👉 The good news about this service is that it can be started as a SaaS product or a services-based business.

It’s easy to test.

Quick to launch.

And can instantly start generating revenue.

Not Steve Jobs Marketing Pitch

Wonder how Steve Jobs would have presented this idea.

Checkout the audio in the tweet below. The script was created using ChatGPT 4 and the audio was created using ElevenLabs.com.

🔊Make sure to turn on the audio.

🙌 Quick request

This newsletter took me 16+ hours to create. If you found this helpful, I’d love for you to share it with a friend.

👏 AI products and research that caught my eye!

Meet Companion - Your dog's always-available playmate for a happier, healthier home-life.

Your dog has a new parent. And it is AI.

Any dog psychologist in the house?

We need to know what happens when boxes start talking to dogs.

Spoiler alert: They are not shipping until August 2024.

World Economic Forum - Insights 

🎨 Human + AI co-created this :)

A human created the prompt. AI did the painting. 🤝

Prompt: A black and white fashion photo of a person embracing their pet after a long separation, both of them overcome with joy and relief by Arthur Tress. The unconditional love and loyalty of a pet can bring immense happiness. Sharp details. Beautiful. Cinematic lighting. Award - winning fashion photography. Clean sharp focus. Significant textile textures. Crystal clear feel. Advertising photography, follow the rule of thirds, resolution photography, maximum detail, Kodak TX 3200 asa, Canon EOS 5D Mark IV DSLR, --ar 2:3 --v 5.1 --style raw --c 50 --s 750 --q 2

Source: Midjourney Discover

🌶️ Spicy AI Tweets

ChatGPT makes a typo, and Reddit goes crazy.

That’s it for this week. See you next week with another issue of The Copilot.

Cheers,
Salil