I've Hired 2 Interns

I pay one of them at a rate of $20 per month.

The other works for me for free.

Wait... before you call me an exploiter or slaver, let me reveal their names.

ChatGPT Plus and Bing.

Wait again and don't unsubscribe yet, calling me a fake.

It's not what it seems.

Let me explain how my small enterprise works.

I live my life and observe things around me. I consume content. I come up with ideas I want to share. I do the thinking. I draft and shape them in writing.

Once my part is done, I instruct ChatGPT to go through my draft to correct grammar and spelling.

I still have to review it and let it sit for 1 day before reviewing the text again and making some final touches.

The final version might not sound exactly like it was written by a native English speaker.

But I can share my words with the whole world.

Gosh... It's a kind of magic.

You might be thinking: "Okay, what about Bing's role?"

Bing is the nerdy intern who does research on the internet.

He's really good at coming up with figures, statistics, and studies.

Isn't it fantastic? Before even starting a business, I already have a team of interns at my fingertips, working 24/7 for me.

As Naval puts it in his conspicuous Twitter thread "How to Get Rich Without Getting Lucky":

What a time to be alive.

What the heck have all this to do with financial modelling?

Actually nothing, but also a lot.

Let me explain.

In my view, financial modelling will not be replaced by AI for the coming years.

AI is excellent at predicting the next word based on training data. But AI sucks with numbers. And lacks intuition and common sense.

A good financial modeller needs a combination of hard skills like:

• Analytical skills

• Spreadsheet engineering

• Accounting and financial knowledge

But a good financial modeller also needs to understand the business model. The value creation process. The levers that drive profit and growth.

For this, intuition and common sense are key.

The good news is that financial modellers like myself can focus on financial modelling without fearing that AI will kick them out of business.

And at the same time financial modellers can leverage AI to hire cheap and well-behaved interns that will help with tasks like correcting texts or doing research on the Internet.

In my view, it's the best of both worlds.

I do not know how you can leverage AI for your own workflow, but I can help you with financial modelling.

If that is the case, let me know and I will personally respond to you.

Not my interns.

I.

P.S. The whole Twitter thread by Naval is here. It's definitely worth a read!

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