How to Invest in AI as ChatGPT Takes Tech by Storm
The first step is understanding what artificial intelligence actually is.
The first step is understanding what artificial intelligence actually is.
ChatGPT is the hottest consumer application in technology today. Does it have a future in mortgage lending? The trendy artificial intelligence chatbot from Microsoft-backed firm OpenAI debuted in November and is the fastest-growing consumer application ever, according to a Reuters report. The free chatbot can answer queries at lightning speed, write extensive creative prompts, pass … [Read more…]
Could financial advisors eventually be replaced by artificial intelligence such as ChatGPT? Hereâs what an advisor, an AI engineer and ChatGPT itself say.
âWhere can you always find money? In the dictionary.â Plenty of lenders and finding the money to buy other companies while smaller ones are looking for the right buyer. Eat or be eaten seems to be the name of the game as lenders hungry for production are courting other lenders. Some just get out of the game entirely. (See lender and investor section below.) Cutting costs and being efficient continue to be of paramount importance regardless of plans for the future. Is the credit process cost effective and efficient? Yesterday I mentioned changes in the credit world and received, âRob, when will companies learn that there are âtoo many snouts in the credit troughâ? Thereâs Fair Isaac, the Bureaus, and the credit resellers. It is not a level playing field, and now, like the old days of having different gfees for different lenders, lenders are slotted into âtiersâ. In the next few years, weâll be moving from a tri-merge environment to a bi-merge environment. Regardless of what comes our way, the overall construct of this portion of our business is shaky.â Editorâs note: âShakyâ is not good in this environment. (Todayâs podcast can be found here and this weekâs is sponsored by SimpleNexus, an nCino company and homeownership platform unites the people, systems, and stages of the mortgage process into one seamless, end-to-end solution that spans engagement, origination, closing, and business intelligence. I go on todayâs podcast to talk with Robbie about the industry ramping up mortgage travels and how mortgage market cycles have historically played out.)
He recalled the onset of the Great Recession, pointing to those who personally endured it as the real OGs of the industry: “2008 was a mother******,” he said. “We know that, right? That was fun. When we go through up-and-down cycles, for a lot of people who went through it, they actually had less to … [Read more…]
High incomes, low cost of living and reasonable taxes are key ingredients for successful entrepreneurship.
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Finding the best life insurance provider for your needs can be a daunting task and getting the wrong insurance policy can mean paying hundreds of dollars more than you need to. According to research, about 80 percent of Americans spend at least 50 percent more than they need to for their life insurance as a […]
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When looking for new lenders, the mortgage product mix, compensation, speed and cultural fit are all factors to consider, LOs say.
A long time ago in a galaxy far, far away . . . . There was a mystical knightly order thoroughly trained to guard justice and peace in the universe. They called themselves Jedi. Today, I’m going to teach you how to master your finances â like a Jedi. Worry do not, smart you are. Prevail […]
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