Welcome to another episode of the Art of Online Business podcast! In this episode, I sit down with Rachel Woods, a former data scientist at Facebook and co-founder of The AI Exchange, to discuss the current state and potential of AI tools.

Rachel shares her experience working on Facebook and Instagram ads and explains the role of a data scientist. She also talks about the limitations of current AI capabilities and the exciting developments to come in the next 6 to 18 months.

Throughout the episode, Rachel and I discuss the use of AI in various tools and products, its potential for automating tasks and improving customer support, and the importance of understanding AI literacy and data privacy.

In this episode, you’ll learn:

• The role of a data scientist in creating effective Facebook and Instagram ads
• The limitations of current AI capabilities and the potential for future developments
• The use of AI in automating tasks and improving customer support
• The importance of understanding AI literacy and data privacy
•  

If you’re struggling with your Facebook or Instagram ads, Kwadwo is your guy! Head over to quayjo.com to learn more about his services and how he can help you improve your ad strategy.

Links & Resources:

• The Art of Online Business website
• DM me on Instagram
• Visit my YouTube channel
• The Art of Online Business clips on YouTube
• Full episodes of The Art of Online Business Podcast on YouTube
• The Art of Online Business Podcast website
• Check out my Accelerator coaching program

Rachel Woods’s Links:

• Check out Rachel’s website
• Check out Rachel’s YouTube channel 
• Follow Rachel on Twitter
• Email Rachel

To join the waitlist for PickRicksBrain AI head to https://theartofonlinebusiness.com/waitlist

Please support the podcast by giving an honest Rating/Review for the show on iTunes!

Speaker 0 (00:00:01) – The reality is we are still at a place where the tools almost aren’t even using the AI’s capabilities to its fullest. Mm. Which I know can feel a little like fuzzy to comprehend. But what that means is the landscape of what we’re seeing in tools today is probably gonna look like kids’ toys compared to what we’re gonna have in six to 12 to 18 months. Which that gets me really excited.

Speaker 2 (00:00:35) – What’s up my friend? Welcome to today’s episode. This is episode number 701. I am Rick Modi and if you’ve not yet heard last week’s episode, episode number 700, it is a must. Listen, I introduced pick Rick’s Brain ai could not be more excited about this tool. This is a conversational custom AI chatbot that will allow you to get coaching from me 24 hours a day, seven days a week, 365 days a year at your fingertips. And it is based on a custom what, what we call a knowledge base that the chatbot is pulling from, specifically my past 10 years of running an online business and all the coaching calls that I’ve done and all the questions I’ve been asked over the years and also 700 podcast episodes. And I’m really excited about this. And so I’m gonna be rolling this out to a pilot group of 100 people.

Speaker 2 (00:01:37) – It’s $10 a month if you’re a pilot user. And then after that, when I roll it out publicly, it’ll be very, very nominal fee to access as a membership. And so for the pilot users, if you wanna be on the wait list, if you wanna be the first to know when I open up the pilot group, it’s just a hundred people. Again, it’ll, for the pilot users, it’ll be $10 a month and you can lock that rate in for however long you wanna stay in. I just, I’m looking for a group of people to come in and start using it and just give me feedback on it because I’m gonna continue to fine tune the back end. So we just keep getting smarter and smarter and smarter at helping you specifically. So I talk more about it last episode. If you wanna join the wait list, rick morrey.com/waitlist and super simple Optin, you just go there, put your name in and email and click yes, I wanna join the wait list button and you’ll be in.

Speaker 2 (00:02:32) – And then I’ll notify you when we’re ready to get the pilot going. Super excited about it. Now, speaking of AI on today’s episode, my guest today is Rachel Woods. She’s someone I’ve gotten to know. She’s just such a cool person and she’s a former data scientist at Meta working on Facebook ads and Instagram ads. From a data scientist perspective, how cool is that? And he is also the founder, co-founder I should say, of the AI exchange, which I’ve mentioned here on the podcast previously, which is a membership all about AI and how you can be using AI in your business. Well, is is also conversation about education and so forth. It is. It is. Hands down. The best membership I’ve ever been in at the time I’m recording this, it’s $12 a month. Super reasonable. If you wanna sign up for it, go to the ai exchange.com.

Speaker 2 (00:03:25) – You can sign up for the membership there. And when you sign up for it, I think there’s like a little field that says, Hey, how’d you hear about? Just put my name in there, Rick Mo, ready. And I think I get, for every two people that I refer, I think I get a free month. So I think you get $6 per referral, but it’s not cash, you know? But anyway, like even if I didn’t get paid, that’s totally fine. I want, this is Jessica. I wanna support Rachel and her sister Christie, who are the co-founders of the AI exchange. Today’s conversation with Rachel. We just talk about AI in general. As you know, this stuff is changing so rapidly, like every single day. And we get into things that, you know, some of the things in AI that are really exciting, Rachel, that she wants to pass along. Rachel shares some of the cooler use cases that she is seeing when it comes to AI and business. We also talk a bit about data privacy and permissions. And just a really cool overall con conversation about AI and business that I think you’re gonna get a lot of from a very knowledgeable person in the AI space. So without further ado, let’s go hang out with Rachel Woods. So you were at Facebook before?

Speaker 0 (00:04:30) – Yep. Started my career out, I guess officially at Facebook. But then I did a bunch of different internships across marketing and data science and stuff through college.

Speaker 2 (00:04:40) – What is, what is it, so what is a data scientist?

Speaker 0 (00:04:43) – That’s a great question. If you ask 10 data scientists, I think you’ll get like 20 answers. .

Speaker 2 (00:04:48) – Oh, really? Interesting.

Speaker 0 (00:04:49) – Yeah. Cause I think even in one individual like team, like the job changes a lot. Or like, you could, like my role, if you ask me one a week versus like another week, it’d be like, yeah, the job is like pretty different. But I think generally, like I’ve always gravitated towards roles in projects and data science that are like, how do we answer a business or a product question? Mm-hmm. using like data that we have, you know, at our disposal. And then how do we like design experiments to drive some ROI or improved value.

Speaker 2 (00:05:19) – Are you, are you, are you taking that approach as you build out the membership, as you build out the AI exchange?

Speaker 0 (00:05:29) – Yeah, I would say it’s just more like in my d n A than anything. Mm-hmm. , it’s kind of why I got into data science was like, I was just, I remember literally sitting in a marketing internship and my job was to figure out what the sentiment was of the product and like how people were talking about the specific feature we launched. And my manager had said, yeah, go read Facebook groups and Reddit forums and see what people are saying. And I was like, cool, but that sounds like a lot of work. Why don’t I write some code that just scrapes all of that and then does like a sentiment analysis and then, hey, when like in six months we could run it again and see how things have changed. And so, and that was just like, I had, I didn’t even know the word data science was at that point, but I was like, why don’t we do that instead?

Speaker 2 (00:06:19) – So you actually know how to do that. Like you get write code to see, like, I, I asked that question because it’s so far outside the scope of like my, what my brain can comprehend, you know, it’s

Speaker 0 (00:06:31) – Cr it’s crazy. I mean, I got deep when I was at Facebook, like I worked on the ads ranking system. Yeah. So where you take, you know, the millions of ads that are in the system at any given point in time. Yeah. And there’s a funnel down to filter through targeting and personalization and predicting whether you’re gonna like click or not. Yeah. And I worked on like the nitty gritties of like compute allocation at different steps. So like if we take five times longer to predict this thing, the performance gets to be 10 times better. And like, what does that do for the bottom line, you know, revenue that, that part of the ads business is responsible for. Like, just like really nitty gritty stuff. And I’m looking at like compute cycle data. Like I don’t even know what this really is. ,

Speaker 2 (00:07:19) – My lister’s ears is perked up right now. When you said working on predicting, you know, ads and, and how they, how they’re showing up and like performance and stuff like that. We may have to have a completely separate conversation on a different episode about that one topic. I don’t know how much you’re able to share, but people are like, Ooh, we know if , we have an insight into what’s actually going on here. So you started the AI exchange. What, when did you start the AI exchange?

Speaker 0 (00:07:45) – Yeah, so I think I, like you could consider it, unofficially started November 1st. Okay. Which was when I wanted to get on TikTok and start creating content just a little bit for fun. And basically talked about my experience as a startup founder, which was, I did before this. And then this whole crazy thing called ai where you could now have AI systems that write text for you. Yeah. And I remember getting on TikTok being like, guys, you won’t believe it. This is crazy. And I think, you know, maybe 10,000 people viewed those videos. Like it was, it felt big at the time, but it was still looking back relatively small interest. So it was November and then of course, you know, beginning of December is when chat G B T launched mm-hmm. . And I remember creating a few videos about chat A B T and then being like, wow, people are really interested in this .

Speaker 0 (00:08:44) – Yeah. And so then focused my account fully on AI. At the time too, there was an explosion of AI tools that a lot of my friends were building. And so we had spun up an early version of the ai exchange.com, which was just a really simple list of all the different AI tools that quickly became a list that was unmanageable as we all kind of probably feel today. Yeah. But yeah. And then kind of January 1st was when we decided, okay, I think we’re doing this, it, you know, grew really fast and there’s a lot of interest and that we really felt like we could help people navigate this wave.

Speaker 2 (00:09:19) – Yeah. I wanna say I found you. So I started watching, I don’t know, I mean, you just came up in my feed because I was starting to watch more, you know, of these Chachi BT videos. People obviously were talking about it in January, but like, my, my, the members of my accelerator coaching program started talking about it and like how they were kind of using it. And I remember I kind of laugh at myself now. I remember like, hey, cuz I’m always talking about like shiny object, right? Like, let’s mm-hmm. careful, let’s just stay focused on what we’re doing, like shiny object here. And then I think like a week later I was, all right, I I’m gonna go try it out. And I was putting together some podcast episode titles and I was using copy AI at the time mm-hmm. . And I was like, oh, I’ll go check this chat PT thing out.

Speaker 2 (00:10:07) – And I, so I, I put it in, you know, I put it in the same prompt into chat, BT and the output was amazing. I was like, wait a second. So I went back to copy.ai and I put in, you know, the exact same prompt and like, just the results were completely different. Yeah. And so that, it was, at that point, I remember it was a Friday, I don’t remember what the date was, but then I was like, all right, I’m, you know, I’m, I’m interested, I’m intrigued now. And so I started watching more videos and then, you know, you started popping up and I was like, wow, you really know what you’re talking about here. And I liked how you del were delivering it. And so, and I think I watched for a couple weeks and then I, you know, I went through your funnel.

Speaker 2 (00:10:47) – I clicked on your link, signed up for your email list. I forget what it was, I forget what I was, what I downloaded, but I got something and then I got an email and it was like literally in the first email you introduced the membership mm-hmm. , I was like, oh, what’s this all about? And then I was like, wait 12 bucks, sign me up. Let, let’s get in there. And you know, as we were talking about before you, before we hit record here, what you and Kristen have, have built and our building, it’s a, it’s a, I mean, to stay, to be able to stay up on everything that’s going on, AI in one place is really powerful because as we all know, like there’s so much happening on a daily basis. Yeah. Like so many new tools and like, you know, conversations. It’s

Speaker 0 (00:11:33) – Crazy. Like

Speaker 2 (00:11:34) – Yeah. It really is. Yeah. And so to have that in all one place, it’s been, it’s been awesome. Have you been, is the primary pathway into the membership through TikTok for you?

Speaker 0 (00:11:48) – It is, yeah. I mean, it’s been 90%, you know, plus or minus 5%. Cuz sometimes attribution is hard, but it’s been 90% TikTok recently we started seeing a lot of growth on Twitter and LinkedIn. But it’s still like TikTok has just been an incredible platform for us. Yeah. Which as a, you know, an online business builder and and marketer has kind of been fun. Cuz a lot of people don’t think TikTok can be a, you know, top of funnel growth channel for business offerings like this. Yeah. Right. It’s very, very new. So it’s been fun to kind of prove people wrong a little bit on that too.

Speaker 2 (00:12:28) – And you’ve blown up on there, you’re at like, what’d you say, 125,000?

Speaker 0 (00:12:32) – Yeah. Like

Speaker 2 (00:12:33) – Very quickly,

Speaker 0 (00:12:34) – Which is crazy. And then I’m really proud of the quality of the audience and the community. Yeah. And know, if you go look at like, the comment sections, people are asking like really legit questions all the time. Yeah. So much so that, like, I spend a lot of time, you know, responding to them where I’m just like, man, at some point, you know, I just need to make 10 more videos just to answer this one question. Right. Right. Which is fun. And then yeah, it’s actually, I mean, I think I was signing some, I pulled up my TikTok analytics before this, I was signing some of the stats, which are like, it’s, you know, 90 percent-ish of the audiences over the age of 25 and 50% over the age of 35, which is not what people expect on TikTok. Yeah. Right.

Speaker 2 (00:13:15) – Yeah. Did you all hear that? So 90% over the age of 25, 50% of Rachel’s audience over the, over the age of 35.

Speaker 0 (00:13:24) – It’s insane because like we’re all, we’re on TikTok. Like Yeah, it’s a great platform and I think a lot of people sleep on it for business especially.

Speaker 2 (00:13:36) – I agree. And that’s why I wanted to kind of, you know, we’re not gonna talk about TikTok a lot here on the, but I wanted to kind of at least talk about it for that reason, because that’s how I came into the membership. That’s how I got connected with you. And it’s a, it’s a very welcoming community and really quality people in there. And there’s some conversations, don’t get me wrong, there are some conversations going on. I have no idea what’s being, like, I don’t get, it’s on the technical side. I have no idea. But I mean, there’s marketing channels and automation channels and, you know, get unstuck and news and, and all this stuff. So yeah, it’s the ai exchange.com, you all, if you want to go check out the membership, it’s, it’s, it really is. It’s, it’s a great membership that, again, it just houses all the information of what’s actually happening in ai, what’s changing by the hour and Yeah, there’s a lot in there.

Speaker 2 (00:14:28) – So what, what are, what are, as you know, so the audience here that is, that is listening online course creators, membership creators or online coaches, you know, they’re selling either online courses or they have a membership or they’ve got a coaching program or you know, mastermind or something like that. A lot of people are thinking about and hearing about, oh, I can use chat G B T to do X, y and Z. Mm-hmm. , what are the types of things that we should be really looking out for as all this stuff is happening with AI and new things are coming out?

Speaker 0 (00:15:01) – Yeah.

Speaker 2 (00:15:02) – You know, what should we really be focusing on in terms of deciding on a tool or, you know, is this gonna work for me? Or how, how should we kind of go about that process?

Speaker 0 (00:15:14) – Yeah, I mean, and so first of all, I’ll say we’re very early still in this technology. You know, at my core I’m a nerd. So I bring like the nerd perspective to this, which is that, and I think it’s helpful for me looking at these tools, the reality is we are still at a place where the tools almost aren’t even using the AI’s capabilities to its fullest, which I know can feel a little like fuzzy to comprehend. But what that means is the landscape of what we’re seeing in tools today is probably gonna look like kids toys compared to what we’re gonna have in six to 12 to 18 months. Which that gets me really excited. It’s so one tactical thing I always recommend to people is like, maybe don’t buy that annual plan of that tool. Yes, definitely buy the annual plan of the membership to a community .

Speaker 0 (00:16:05) – But no, I, I just, the reality is I think the tools and the capabilities are at the early stage of what they’re gonna be able to help us with in, in business and in life. But outside of that, some of the things that really excite me are just how easy it is to build like SOPs and processes for your business. And instead of needing to continuously hire and train a team, you can say, Hey, can we do a combination of enabling our team to use AI with these SOPs in kind of having more of like an augmented process in a way. Right. So I talk to a lot of marketers who have a content calendar and they have a structure of how they repurpose content, especially where they recycle content or they’re keeping the same like core content, but they are making it feel different for LinkedIn or for Twitter mm-hmm. . And it’s like, hey, AI is really good at that stuff. Especially if you kind of already had that process and that s sop like established.

Speaker 2 (00:17:09) – Yeah. What are some tools off the top of your head that, that are helping with that process right there? Because that is a very common problem that I hear from people. It’s, it’s the, it’s sort of like the hamster wheel of content creation. Yeah. And it’s like, okay, I’ve created, like this podcast for example, I have the audio and the video. It’s like, okay, cool. How do I repurpose this? But yet make it so much easier to do that.

Speaker 0 (00:17:37) – Yeah. I mean, I see most people having success doing this repurposing with kind of building their own, because they take the process process that they already do and then they’re piecing together chat g p t in something like Zapier, which can feed chat G P T into something like Google Sheets.

Speaker 2 (00:18:01) – Yep.

Speaker 0 (00:18:02) – And you know, it does take a little bit of a learning curve to figure out how to piece those tools together. But the great thing is you can get exactly your process put together in the tool automated using AI or at least for your team or you know, you on Sunday morning when you’re going into your process. Like, it’s just so much easier and like AI is doing a lot of the heavy lifting for you. So I find people just kind of piece things together themselves on that specific use case for ai.

Speaker 2 (00:18:34) – Yeah. That was, you know, and, and, and as these tools are, I like, Canva had their big, you know, as we’re recording this was like, what, a week and a half ago or two weeks ago where Canva had there this big presentation on all the AI opportunities that they’re pulling in there. One question I do have, and I truly don’t know the answer to this, I was gonna reach out to a founder probably today or tomorrow about this one tool that I came across as a podcasting tool. Do you happen to know what many of these tools are using, uh, are they using like G P T three or 3.5 or are they able to use the latest, you know, because they all have, a lot of them now are having these, you know, the, the, the AI chat in there. They’re built into the tool where you can ask it questions and do something with it.

Speaker 2 (00:19:20) – But what I’m finding is I can ask it to do the, I can put the exact same prompt into that tool and get a very like, sort of cursory, you know, output. Whereas if I do the exact same thing in chatt B T based on the same, you know, say piece of content, it’s mm-hmm. , it’s vastly superior. Like are are most, and I know it’s hard for you to answer like specifically, but are most of these tools sort of like, are they catching up or they do not, they, do they not have access to the ap? Like I, I don’t even know, you know what, you know what I mean?

Speaker 0 (00:19:58) – Yeah. So it’s a great question. Most of these tools are using Opening Eyes APIs. So they’re using the same underlying they call foundation model that Powers Chat, G P T mm-hmm. , which is part of Opening Eyes business model. Their whole thing is, okay, we have chat G P T the app, but we also want to bring chat GT’s capabilities into all these friend products. The, it’s interesting that you’re already like observing differences because when you are building your own tool, you have some more affordances or customizability for better or worse that you can choose to make in your implementation of Chat G P T. And so I think a lot of these tools, and now I’ve talked to people who are building these tools, how they’re thinking is, they’re like, okay, well let’s try to make something that’s a little bit more specialized or a little better for this use case. But, you know, sometimes that can be harder than people will expect. So maybe you have, you know, then you have examples where you’re putting in the same task Yeah. Or the same prompt in some other tool and you’re saying, Hey actually chat G B T is still better. So

Speaker 2 (00:21:11) – Is this something that, and I don’t mean to ask an obvious question, but I, I truly want to know, like I would assume that as time goes on here, all these tools that are building AI into it will the AI will improve in the tools, right? Because I’m thinking like, like you just, like you just said like I can use this tool, but I really wanna know that like the output that I’m getting from it is like is really good. Yeah. Versus, okay, I can use this tool for some things but then I gotta pop over to chat t p t to you know, do something that I’d love to be able to do over in this tool. But it’s just the output isn’t very good.

Speaker 0 (00:21:52) – Yeah.

Speaker 2 (00:21:53) – Is one is like chat t p t or like do you see this sort of continuing to be superior about like the AI that’s involved in these tools? You know what I mean? Like Notion for example, like I just got access to their AI probably two weeks ago finally. And that I find kind of the same thing where I was like mm-hmm , I’m testing like podcast titles. I try it in there, same prompt, put it in the chat G B T and it’s like whoa, this is way better over here.

Speaker 0 (00:22:21) – Yeah. I mean, so this is where we’re just still so early and you’re kind of uncovering a little bit of the unsettled part of the AI ecosystem right now. Mm-hmm. , I’ll be honest, which is so like Notion is actually using a different AI model provider. Oh, okay. Now, okay. They’re using Claude, which is by philanthropic, which is one of the kind of competitors to chat G B T if you will.

Speaker 2 (00:22:51) – Okay.

Speaker 0 (00:22:52) – And then each of these tools, you know, their, I think their plan and what they’re trying to do is improve the AI in the tool over time. But even that, like how you technically do that, how the, you know, AI model provider you’re working with lets you do that. All of that’s also still very, very early Yeah. Days. Yeah. So yeah, it’s just, it’s a really interesting time to be building AI products and then, you know, I also here and I’m using them all the time. Yeah. And it’s kind of funny to have both sides of that where you’re like, oh, you’re using Notion ai, need to know, oh yeah. Cuz they’re on the early beta working with this other provider. So kind of some of that inside baseball and think kind of funny sometimes.

Speaker 2 (00:23:39) – What are some of the cooler use cases that you’ve seen with, you know, from an online business perspective or marketing across, I know you mentioned, you know, obviously content creation. Yeah. What are some other ones that you’ve seen or SOPs?

Speaker 0 (00:23:52) – So there’s a couple different things. One, I mean there’s one area I really wanna talk about which I think is gonna be even more relevant probably once this airs, but I’ll get there. I, I’m having to hold back my excitement a little bit. But yeah, in terms of use cases for chat G P T or like the model behind it, I think I’m seeing a lot of people have a lot of success in customer support actually, which is one of the nice things about customer support is you have so much example data to go off of because you have all these historic customer emails and responses to feed in as examples to the model. And it will not only then learn how you talk, right? What’s your tone of your business in customer support situations, but also what the content is of the right response. You know, a simple example like, hey I have a question about how to sign up for the membership. Okay, here’s how to sign up for the membership. And so you have all these good examples of how to answer those questions. Yep.

Speaker 0 (00:25:00) – As I’m seeing a lot of people implement AI to help with triaging those questions. Also giving your customers a really easy way to get their question just answered by putting a kind of chat G P T style chat box on your support docs or on your FAQs. Yeah. And that to me is really exciting. Cause I mean, I’ve done a lot of customer support in my time and while it’s really fun to interact with the customers, a lot of times, you know, you have just so many emails to get through and so then you wanna give a good response and then it’s just, it’s just one of these types of slogs a lot of businesses have to to do. But yeah, I guess dovetailing into that, the part that really excites me about this technology is starting to get good at is actually going and doing things for you.

Speaker 0 (00:25:48) – Which in the customer support example can be something like, Hey, I need a refund on my shoe order because it never, you know, was delivered if I’m Amazon. Okay, well these AI systems can actually learn to go interact really with your backend process for processing a refund for a shoe order. And of course you want a human to like make sure that that was done correctly, right? Yeah. Like, you know, you know, you don’t wanna give it all the, you know, control. But that’s incredible to think about the idea that these systems not only can draft a response for you, not only can figure out what needs to be done, but actually go and do it for you. Yeah.

Speaker 2 (00:26:32) – I think that’s where, and as I mentioned on the podcast here within the past month or so, we were using it, I think, and I’m doing this too, right? But I think we’re using AI and the capabilities within say, chatt b t on its most, to your point Rachel, like on its most basic level, like mm-hmm. , hey, write me an email about whatever come up with podcast titles Right. Via a video script or those are all great, but it’s like, okay, what can we actually do with this technology that, or begin to do that will really start to move the needle

Speaker 0 (00:27:11) – Or, and I think it’s, I mean, and it’s not, I think one distinction’s important to make cuz it’s not just like, oh there are some beginners or like the broad public doesn’t understand the technology to its fullest. Like it’s the people building these tools and these products who do not understand what it’s capable of to its fullest or they have a sense. But I think everybody across the board feels like we really haven’t unlocked what we really have sitting in our hands. Yeah. Which to me that’s exciting.

Speaker 2 (00:27:43) – Yeah. So now what about on the flip side? There’s the other, the other people where not other people. Like there’s just, there’s a, there’s a fear

Speaker 0 (00:27:55) – Yeah.

Speaker 2 (00:27:56) – Around it. What are your thoughts on that? I

Speaker 0 (00:27:59) – Mean, I think change is scary, especially when change is happening fast and it’s really difficult to imagine what the world and what our jobs look like a couple years from now. Mm-hmm. , I think, you know, one thing I’ve changed my thoughts on since I started my account in November was originally I thought this was gonna be as big of a change as like the iPhone or cloud computing, which were major changes in the way that we worked or the way we had, you know, had products in our lives. But I think my like conviction has grown. This is more internet scale. Yeah. Yeah. And it’s the internet, while we also have the internet to accelerate how quickly the internet is coming up. You know, part of the internet’s a adoption curve was people like getting on the internet. Right. And that’s just not a problem with this technology wave.

Speaker 0 (00:28:57) – You already have access to AI like in crazy amounts. Yeah. And considering how like early and new it is. Yeah. So I think people, I think it’s very fair to be like, I don’t know what’s gonna happen. Cuz I think it’s just happening really fast and and changing a lot. But on the other side, like, I’m a very pragmatic optimist where like, okay, well people have always experienced change. We’ve always adapted, look how many jobs the internet has created for people that we couldn’t even have described before. Yeah. I mean, I think a lot of what you and I do, people would’ve been like, that’s a job, right? Yeah. Right. That’s

Speaker 2 (00:29:34) – A thing.

Speaker 0 (00:29:35) – Yeah. So I think, I think we’re gonna, we’re gonna figure it out, but it is, yeah. It is happening fast. There’s no doubt about that. I don’t know. How do you, how do you feel about it?

Speaker 2 (00:29:46) – I I feel very much the same in that I think that we’re at a point right now where it, it’s coming, you know, it, there’s no stopping it at this point mm-hmm. . So we can either start to embrace it and to look at it, how can this help us? And yeah, of course there’s the, on the complete other side, you know, the dangers of it. But I think that obviously we need to be aware of it. We need to educate ourselves as much as possible. But I think because of where, because of like, this train isn’t slowing down, it’s only gonna get faster.

Speaker 0 (00:30:23) – Yep.

Speaker 2 (00:30:24) – Like let’s embrace it, see how it can help us and use it to the best of our ability. Mm-hmm. continue to learn it because I, I really think as, again, as I mentioned on the podcaster before, like it’s the people that are not going to embrace it and it’s the people that not, that are not going to embrace it and learn it and stuff like that, that kinda be kind of left in the dust a little bit here. And so, yeah. Yeah. I think we proceed with caution, but at the same time, like really cool things that we can be doing here.

Speaker 0 (00:30:56) – I like to, I mean, a new mantra I’ve been saying lately is like, technology just doesn’t get uninvented. Right? Yeah. Like it’s here. Yeah. And we need to figure out how to adapt with it. And I think just having the honest open conversations and open mind about that, that’s the new reality Yep. Is what’s gonna serve us best Right. As individuals, as a society on every dimension. A

Speaker 2 (00:31:25) – Hundred percent. Yeah. I mean we can talk about this forever. I, I think I’d love to have you back on the show here several more times just to kind of maybe make this like a sort of a regular series where we’re talking about this. Is there anything like you think that we, I mean obviously there’s a million things we didn’t talk about today, but is there something that you think like we really should touch on right now?

Speaker 0 (00:31:49) – I think one of the biggest trends that I’m watching right now, especially as a business owner myself and thinking about the business owners and leaders that I work with, is just how important it is to focus on really getting a sense of AI literacy right now. Hmm. You know, a lot of, most people didn’t have AI in their vocabulary, you know, nearly at the same level or even at all, you know, six months ago. Yeah. Almost nobody had AI in their 2023 budget or roadmap. Right. . Yeah. This is not something we like saw coming right. In our 2023 planning. And I think recognizing that this is a major shift in slowing down and kind of building up some of the core literacy around how to make decisions and how to evaluate opportunities in this phase is really important. One of them in particular being data privacy and data ownership

Speaker 2 (00:32:50) – Mm-hmm. ,

Speaker 0 (00:32:51) – And I know it’s not fun to read the terms of use in terms of of these tools and these products we’re using, but it’s important to realize that that is just a reality of these systems that are coming out today. Chat, G P T specifically, you know, they’ve been very clear from the start that it’s a research preview. It’s a free tool, it’s a tool that’s learning from you. And so your inputs and the outputs that is generating for you are in their remit to use for the future training of the model. Mm-hmm. . Now, I don’t think that’s a bad thing inherently. In fact, I think a lot of us want our tools to get better and learn from us over time. Like, that sounds great, but it’s just really important to realize what that means and then be able to have the confidence to navigate, okay, where are places where I don’t want that to be true. How do I work with the right providers that don’t use my data to train the model in the future? Yeah. Or understand how to ask those questions. And that just is something, it’s one example of kind of this broader bucket of just AI literacy that I really feel like now is the time to invest in it. It’s fun to try all the tools, but now is really the time to like kind of get used to this new language or new things to ask.

Speaker 2 (00:34:05) – Yeah. And that was one of the resources I really liked one of in the membership where you have like sort of like a foundational glossary of terms if you will. Like what all this stuff. Yeah. And I still don’t know, like, you know, I still don’t understand so much, but just having that knowledge of like, oh, okay, this is what LLM is. You know, like that it just basic terms that are being used now in the AI space, in the AI discussion. Right. It’s totally, you know, we, we do need to educate ourselves.

Speaker 0 (00:34:39) – Yeah. And I think the, the like, I dunno about you, but every time I feel like I understand something deeper, I feel a lot more confident making decisions in it and it’s, it gets a little less scary too. Right. For sure.

Speaker 2 (00:34:52) – I do, I do want to ask you one last question. Mm-hmm. , I think it would be like, we do need to mention lad, you know, like I’ve been reading just, I mean we’re recording this on April 4th, so by the time this episode comes out here in a few weeks, who knows Bard may have, you know, improved. I know that, you know, Google’s c e o came out and said, yeah, we’re making a whole bunch of improvements to it, et cetera, et cetera. Where do you th where do you see things right now?

Speaker 0 (00:35:24) – I think look, opening Eye is clearly the lead in many dimensions. They’re the have the widest distribution, they have the most powerful model as of recording Yeah. Right now. Right. Yeah. But I think zooming in too closely on today’s state, like would make us think that that’s gonna, you know, it’s an end, it’s a finished game, right? Yeah. And it’s just not, yeah. The teams at all of these companies are extremely talented. A lot of them have worked at multiple of these companies. Yeah. And my hope is that we have a competitive and healthy ecosystem of AI model providers and I think a lot of people really stand behind that belief. So I expect we’re gonna have a better bard in the near future. You know, Claude is growing in popularity and capabilities and there are other players that we’re gonna see emerge too. Yeah, yeah. Yeah.

Speaker 2 (00:36:24) – It’s really cool And Faire listening by the way. If you don’t wanna pay, you know, for chat g p t plus to get access to, to G P T four, which is the latest one at the time. We’re recording at the time recording this. You can go through Bing and Yeah, like if you’re like, there’s a, I guess there was a wait list. I dunno if it still is, but for some reason, and maybe you might know the answer to this, Rachel, I can’t access it. I have, I’m, I have it, but I keep getting this error where I click like chat, you know, I like, all right, let’s do this, let’s chat. And it’s that box that sort of gives you the example of what’s like, what it’s about. But I’m like, yeah, okay. Chat. And then it, it launches a new tab with the exact same thing. And I oof, I looked up the other day and I’m like, this is a known bug, apparently. They’re like, oh, clear your cookies and log back, log out and log back in. I’ll, I’ve done all those things and I still can’t do it. So I have literally not been able to test within, within Bing, but

Speaker 0 (00:37:26) – To bang. Yeah. You know, if there was a, a good example of how early we are in this space. I think that’s one.

Speaker 2 (00:37:33) – Exactly. Exactly.

Speaker 0 (00:37:35) – They have a bug where probably a lot of people can’t access it and they still haven’t fixed it. Right. Yeah. And yeah. But hopefully soon. Yeah. I mean it’s just a, it’s gonna be a crazy next couple months and I feel like I’ve been saying that for a couple months. That is true. Yeah.

Speaker 2 (00:37:50) – So follow you on TikTok. What is your TikTok username?

Speaker 0 (00:37:56) – I’m the Rachel Woods.

Speaker 2 (00:37:58) – The Rachel Woods? Yes. And the ai exchange.com. Yes. You can sign up for the membership there as well. Yep.

Speaker 0 (00:38:05) – And we’re gonna put a, I have a special link to give you for a one month free Oh. So people can come check it out. And I think like, really what we’re trying to do is just be exactly what you said, that, you know, one place to get really high quality information so that people can feel really confident in navigating all these decisions that we have to make right now. Yeah. And yeah, really have loved having you be part of it.

Speaker 2 (00:38:29) – Yeah, I’m, I’m having so much fun. I was thinking about, I’ve never been part of a, a membership where I’m like, yeah, yeah, I have no, like I’m in like, it’s like I’m not going anywhere . Whereas I’ve been other memberships, I’m like, yeah, I’ll try this for a few months. I dunno, I’m just oddly thinking about that yesterday. I’m like, yeah, this is not something that I ever plan on. Like as long as it’s around, which I don’t see you, it’s only going up from here. I plan on being, being around for a very long time and not a lot of memberships. I can say that about.

Speaker 0 (00:39:02) – Man, we gotta get that testimonial on something. , we’ll

Speaker 2 (00:39:05) – Have that clip right there.

Speaker 0 (00:39:07) – . No, but yeah, and this is fun. I mean, there’s so many things to talk about in ai, but yeah. Yeah. We’ll have to do this again. For sure.

Speaker 2 (00:39:13) – Well, thank you Rachel for coming on. I appreciate it.

Speaker 0 (00:39:15) – Yeah, of course.

Speaker 2 (00:39:18) – All right. Hope you got a ton out of this one with Rachel again. Go over it and join Rachel’s and Christie, her sister’s membership. It’s called the AI Exchange. Just go to the AI exchange, the ai exchange.com. And when you fill it out, when you sign up, it’s like $12 a month when I’m recording this. It’s 12 bucks a month and just put my name in there when you sign up. And I think I get a little bit of credit there. So happy to support that membership. It’s amazing. And again, if you want to join the wait list for my AI chat bot, which we are rolling out called Pick Rick’s Brain, go to rick mulready.com/waitlist and I’m gonna be opening this up to a pilot group of a hundred people. So if you want to be the first to come and use the chatbot, which I’m super excited about. Again, if you haven’t heard last week’s episode, episode number 700, I talk all about it. And so go check that out. Join the wait list, rick mul.com/waitlist. And thank you so much for listening today. I appreciate my friend. Until next time, be well. I’ll chat with you soon.