Unlock the power of AI in Finance: Meet Perplexity
Elevate Your Financial Strategy and Stay Ahead of the Curve with AI
In the world of numbers, a revolution nears, Where tech and insight conquer age-old fears. No longer chained by past ideas, A future unfolds, that everyone cheers. AI whispers secrets, Wall Street never knew, Democratizing wealth, a dream now true. For every trader, coder, and visionary too, The future of finance, is a canvas anew. Written by AIrvis
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In Today’s Edition:
📰 News of the week → Dive into a weekly roundup of Macro, Markets, AI, and ESG news. What's shaking up the financial world?
💡 Know-wow → Fasten your seatbelts! We're jetting through tulip mania, the "Laffer Curve," Wall Street's origin, and a Bitcoin pizza deal that could've made you rich!
🤖 AI Advantage → This section is your roadmap to navigating the ever-expanding universe of AI tools that can supercharge your work, research, and data analysis. Today's spotlight is on "Perplexity AI".
Got suggestions or feedback? We're all ears. Help us make this newsletter even better by sharing and subscribing - it’s totally FREE ❤️.
📰 News of the week
1️⃣ European Stocks & Jackson Hole: Investors are on the edge of their seats, waiting for the Jackson Hole symposium. European stocks? Barely a twitch, down by 0.1%. Meanwhile, U.S. stocks are partying with record highs.
2️⃣ AI ETFs: AI ETFs were the rockstars of H1 2023. But wait, there's a plot twist! Investors are now weighing tech hype against rising interest rates.
3️⃣ Germany's Economic Stance: Chancellor Scholz says, "No more spending!" Germany's economy is weak but hopeful. Debt's already piled up from past crises.
4️⃣ China's Market Rescue: China's Central Bank cuts rates after some disappointing economic data. But their stimulus game is more cautious than ever, causing investor jitters.
5️⃣ Dubai's AI in Construction: Dubai's gone futuristic with AI robots for construction material testing. Say goodbye to 4-day tests; these bots get it done in 8 minutes. Plus, you get your results on your phone.
6️⃣ Germany's AI Funding: Germany is doubling down on AI, boosting its research fund to nearly €1 billion. The goal? AI that's "Made in Germany" and transparent. But they've got some global competition.
7️⃣ Hong Kong's AI Scam: Hong Kong police nabbed 6 folks using deepfake tech for loan scams. They used AI to match faces on stolen IDs. Sneaky, but caught.
8️⃣ Climate Change & Crops: Climate change is the wingman for pests, helping them destroy crops. This is costing the global economy a staggering $290 billion annually.
9️⃣ UN & Aramco: UN's got its eyes on Saudi Aramco and its financiers for climate-fueled human rights issues. A letter's been sent, asking for explanations.
💡 Know-wow
The Tulip Mania Bubble: Ever heard of a flower causing an economic crisis? In the 17th century, tulip bulbs in the Netherlands were more valuable than gold! At its peak, a single tulip bulb could cost as much as a luxurious house in Amsterdam.
The "Laffer Curve": Named after economist Arthur Laffer, this curve suggests that there's an optimal tax rate to maximize government revenue. Too high, and people won't work; too low, and there's not enough income for the government. Laffer reportedly sketched the idea on a napkin during a dinner meeting!
The Origin of Wall Street: Ever wondered why it's called "Wall Street"? The name comes from an actual wall built in the 17th century by the Dutch settlers in New York. It was initially built to protect against attacks, but now it's synonymous with the financial heartbeat of the world.
Bitcoin Pizza Day: On May 22, 2010, a programmer named Laszlo Hanyecz made the first real-world transaction using Bitcoin by buying two pizzas for 10,000 Bitcoins. Today, those Bitcoins would be worth ~ EUR 241 million today, making those the most expensive pizzas ever!
🤖 AI Advantage
Link: Perplexity AI
Ever heard of Perplexity? It's an AI-driven platform designed to streamline your information gathering and decision-making processes. What sets Perplexity apart?
Perplexity AI offers a revolutionary product that integrates traditional search algorithms with Language Learning Models (LLMs). It places a strong emphasis on scientific rigor, ensuring that each answer is substantiated by credible, cited sources.
Imagine a sophisticated assistant capable of addressing all your finance-related queries, from investment strategies to market trends. It's akin to having a financial expert readily available at your convenience.
However, it's essential to note that while Perplexity can be an invaluable starting point, it should not be your sole resource for investment decisions. Always conduct your own research and consult with financial advisors to make well-informed choices.
You might wonder, "Is this similar to what ChatGPT offers?" While there are similarities, there are also key distinctions:
Real-Time Information: Perplexity provides up-to-the-minute data, effectively serving as a constantly updating news source tailored to your needs.
Specialized Search: Unlike ChatGPT, which is versatile but generalist, Perplexity specializes in search functionality, making it ideal for in-depth research projects.
Copilot Feature: Perplexity's Copilot mode offers interactive, personalized responses, setting it apart from standard search options. However, it does come with usage limitations (in the free version 5 queries, reloaded every 4 hours).
While ChatGPT excels in text generation and summarization, Perplexity is designed for those who prioritize timely, research-backed information. But remember, it should serve as a starting point, not a substitute for comprehensive research on your investment decisions.
The versatility of Perplexity AI makes it a valuable tool for finance enthusiasts looking to gain insights, make informed decisions, and optimize their financial strategies.
Here is a list of possible questions you may ask Perplexity AI, but please feel free to try new ones as well.
Infographic
Let’s go through a concrete example and see how Copilot Feature works. In this case, the prompt is:
Act as if you were an investment professional and analyze Coca Cola stock, go through a thorough investment analysis and provide an investment decision as of 27 August 2023.
Watch below and see how Perplexity AI deals with it.
🚀 Wrapping Up
Thank you for joining us on this enlightening journey through the financial landscape. Your engagement and support are invaluable to us, and we're committed to delivering actionable insights week after week.
If you have any suggestions or feedback, we're eager to hear from you. Your input helps us continually refine our content to serve your needs better.
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Until next week,
Stay updated, stay informed, and stay financially strong.
Warm regards,
AIrvis & Dinu VC
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