Introduction to Artificial Intelligence

You’ve probably heard a great deal about artificial intelligence lately. Here is what it is, which tools are most popular, and how to start without feeling overwhelmed.

What AI Assistants Are

Think of an AI assistant as a well-read helper that lives on your phone or computer. You ask it something the way you’d ask a knowledgeable friend, such as “Help me write a note to my neighbor” or “Explain this letter from my insurance company,” and it answers in plain English within seconds.

These tools learned by reading vast amounts of written material, which makes them very good with language: drafting, summarizing, explaining, and brainstorming. But they don’t truly understand the world or know your personal situation, and they can occasionally get facts wrong while sounding completely sure. The best approach is to treat them as a capable assistant that offers a first draft or a fresh idea, while you make the final call.

The Most Popular Platforms

ChatGPT (OpenAI). The best-known assistant and the one most people try first.

• Good at: Everyday questions, brainstorming, drafting letters and emails, and a wide range of add-on features such as image creation and voice conversation.
• Less good at: It can state wrong information very confidently, and its answers on current events depend on whether its search feature is used.

Claude (Anthropic). Known for thoughtful, careful writing.

• Good at: Long documents, summarizing, editing, and explaining complex topics in plain language. It handles pasted letters, statements, and articles well.
• Less good at: It has fewer built-in extras than some competitors, and like all assistants it can make mistakes.

Gemini (Google). Built into the Google products many people already use.

• Good at: Working alongside Gmail, Google Docs, Maps, and Search, and answering questions that need current information.
• Less good at: It’s most useful if you already live in Google’s world, and its answers still need checking.

Microsoft Copilot. Built into Windows, Edge, and Microsoft 365 products like Word and Outlook.

• Good at: Helping with documents, spreadsheets, and email if you use Microsoft software.
• Less good at: Its full capabilities often require a paid subscription, and it’s less appealing if you don’t use Microsoft products.

Perplexity. Works more like a search engine that explains its answers.

• Good at: Researching a topic and showing the sources behind its answers, so you can verify them.
• Less good at: Creative writing and long, back-and-forth conversation.

Siri, Alexa, and Google Assistant. The voice assistants already in many homes.

• Good at: Timers, music, reminders, smart-home controls, and quick facts.
• Less good at: Detailed, nuanced conversation, though they’re becoming more capable.

Specialized tools. Some services use AI for one purpose. Muse.ai, for example, transcribes and searches video.

Which Should You Try First?

For most people, the best choice is the one that fits tools you already use. Gmail users may like Gemini, Microsoft users Copilot, and iPhone users Siri. If you simply want to experiment, ChatGPT and Claude both offer free versions that work well for conversation and writing.

Five Safe Habits for Every Platform

1. Never share sensitive information. Leave out Social Security numbers, account numbers, and passwords.
2. Verify important facts. Every assistant can be wrong, so double-check anything medical, legal, or financial.
3. Remember that it can’t know your situation. AI doesn’t know your full financial picture, goals, or tax circumstances.
4. Check privacy settings. Look at how each service uses your conversations.
5. Be wary of scams. Criminals now use AI to imitate voices and write convincing messages. If a call or email asks for money or information urgently, hang up and contact the person directly.

Where We Come In

AI is a wonderful tool for planning a trip, understanding a letter, or learning something new. It isn’t a substitute for personalized advice on your retirement income, taxes, or estate. For those decisions, your advisory team is here to help, and we’re glad to talk through how these tools might fit into your life.

For general information only; not investment, legal, or tax advice. Products named are examples, not endorsements, and PTM Wealth Management, LLC. has no affiliation with the listed AI services. AI can be inaccurate, so verify important details and never enter sensitive personal or financial information. Consult with your advisor about your situation.