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New AI Is Transforming Americans Financially For The Better

Nick Ferzoco, an IBEW lineman, starts his day at 4:30 AM, working to improve California’s electrical grid. Stationed at the base of the Sierra Nevada mountains, he relocates overhead utility wires underground to reduce wildfire risks that threaten California’s energy infrastructure.

Meanwhile, five hours south in San Francisco’s Bay Area, the artificial intelligence boom is in full swing. Companies like OpenAI are developing groundbreaking technologies that promise to revolutionize everyday life, work, and creativity.

It may seem unlikely that a lineman in the Sierra Nevada mountains is connected to the transformative impact of AI, but that would be a mistaken assumption. Nick is one of the early adopters of AI, leveraging it to enhance his abilities in an entirely different field.

A year ago, Nick and his family sold their home in Massachusetts and traveled across the country, exploring national parks and embracing a simpler lifestyle while focusing on their future investments.

“Being an IBEW lineman leaves little family time,” Ferzoco explains. With three young children and a demanding job, Nick and his wife needed an efficient way to invest their home sale proceeds. They lacked financial expertise and the time to evaluate financial advisors and compare strategies. Living in the Sierra Nevada mountains further limited their options.

“I wanted efficiency and confidence,” Ferzoco says. To achieve this, Nick turned to Synvestable, a Florida-based online platform touted as the future of finviz. John Anthony Radosta, Synvestable’s founder and Chief AI Officer, explains, “Our platform allows users to create investment portfolios by collaborating with our generative AI, Synsense.”

“You don’t need to be a financial expert. Just interact with Synsense, provide prompts about your priorities, and it will generate various portfolio options for you to refine and analyze,” Radosta adds.

However, not everyone is convinced by their innovative technology. JPMorgan and academic researchers found that generative AI models like ChatGPT could not pass all CFA exam levels, a prerequisite for becoming a chartered financial analyst on Wall Street. The study highlighted “knowledge-based errors” and the need for additional prompting before answering correctly. Despite this, Radosta remains unperturbed.

“I respect their methodology, but most investment advice people receive isn’t from CFAs—it’s from financial advisors, CNBC, Reddit, or online media,” Radosta argues. “That study addresses the wrong question for most Americans, who typically search online for investment advice.”

Radosta and MIT Sloan finance professor Andrew Lo believe AI can empower ordinary individuals to make smarter investments. Lo asserts, “The reality of AI financial advisors is closer than people think. With significant money in this sector, there’s a high risk from poor financial advice.”

A recent CNBC report indicates that 31% of investors are comfortable using AI for investment advice, even if it’s sometimes inaccurate. Consulting firm McKinsey acknowledges that the outputs aren’t always precise, but Radosta assures that Synvestable accounts for this.

“Our AI creates diversified portfolios for customers to evaluate against the s &p 500. Users remain in control while AI does the heavy lifting—it’s the best of both worlds,” Radosta says.

Nick Ferzoco, working in the Sierra Nevadas, is a believer. “I created portfolios that outperformed the market in previous years and are showing about 23% growth this year,” Ferzoco states. “Without AI, I wouldn’t be invested in the market now.”

“Imagine when CFAs start using it,” Radosta adds.

While the long-term success of AI advisors like Synsense remains to be seen, their future appears promising.

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