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ABC News
29-04-2025
- ABC News
Why you should consider using AI if you've been avoiding it
If you've been avoiding generative artificial intelligence (AI) you're "missing the next industrial revolution". That's according to Nici Sweaney, CEO of AI consultancy business AI Her Way. Nici Sweaney says AI tools will redefine how we work, live and interact. ( Supplied: Nici Sweaney ) Dr Sweaney, who lives on Yuin Country on the New South Wales South Coast, says using AI systems comes with a competitive advantage. "We think that if you use it daily in work, you get about a 40 per cent increase in productivity and efficiency," she says. "If you work a full-time job, that's two extra days of work a week." She says ChatGPT, Copilot, Claude and Gemini, which are known as large language models, are among the most popular tools There's a divide in who is using these tools, with men more likely to be using them than women and "about twice as likely to be using [generative AI] in a workplace setting". Sign up to the ABC Lifestyle newsletter Get a mid-week boost and receive easy recipes, wellbeing ideas, and home and garden tips in your inbox every Wednesday. You'll also receive a monthly newsletter of our best recipes. Your information is being handled in accordance with the Email address Subscribe Sandra Peter is an associate professor at the University of Sydney Business School and co-director of the school's Sydney Executive Plus, which focuses on upskilling emerging leaders. She thinks of large language models "as having a personal assistant" who is knowledgeable, eager to help, polite, but "sometimes does make mistakes". How to get started Dr Sweaney recommends people begin by using AI tools in low-stakes ways in their personal lives. If you're keen to experiment with it at work, low-risk tasks are the best place to start, she says. Experts tips on how to start using AI tools: Start with simple and low-stakes personal tasks Identify tasks you can explain easily to others and don't enjoy Try using different free systems and find one you prefer When deciding the tasks that could be delegated to AI in your life, Dr Sweaney suggests making a list of the tasks you do often, which could include responding to emails, prioritising your workload, or writing the grocery list. If you could explain the task to someone, highlight it. Give it gold star if you don't enjoy doing it. Dr Sweaney says these tasks are "prime territory" for delegating to generative AI. Dr Peter says if she were a beginner, she would divide her daily tasks into categories "and think about how [AI tools] can help me in those different areas". Planning and preparation tasks are often good candidates. She suggests people try out different tools to see what works best for them. "I want to encourage [people] to experiment in very simple, straightforward ways." For example, you could start by asking a system to proofread some text. How do you use AI tools to make your everyday life easier? Email everyday@ Dr Sweaney doesn't advise paying for an AI tool. Most large language models have free versions and most people "won't be able to tell the difference". "It's just about finding one that you enjoy using and then learning to use that well." When not to use AI tools Dr Sweaney says some people make the mistake of directing these tools as if they are using a search engine. "It's much more like having an employee or an intern," she says. You're likely to get better results if you show the tool an example, and describe what you do and don't like. Zena Assaad says there are risks involved when using AI programs and tools. ( Supplied: Zena Assaad ) Dr Peter says these tools don't excel at maths and recommends you use a calculator instead. "Don't use it as an accuracy machine," she also warns. These tools are better at summarising or critiquing content you offer up, she says. Zena Assaad, is a senior lecturer at the Australian National University's School of engineering on Ngunnawal Country, in Canberra, whose research interests include the safety of AI systems. She encourages caution when using these tools, especially in work settings or when sensitive information is involved. Dr Assaad says while these tools and systems can be very helpful, a lot of people are using them when they shouldn't be. "I do think that we're seeing a loss of critical thinking skills by using these tools,: she says. "It's your conscious choice whether or not you use it, and how you use it." What about the information I input? Dr Assaad says that when we engage with these systems, our personal information is being used to improve them, and these systems can then be used in ways we might not be comfortable with, such as in You can usually opt out of your data being used to train the AI model, Dr Assad says, but it is often "hard to find" out how to do so, with many users "opting in" by default. Dr Peter encourages people to consider and be "very mindful" of what you're submitting, particularly if any information is confidential, or not your own work or data. Dr Sweaney says: "If you want to be really safe, turn data sharing off, and if you wouldn't put it on a public forum maybe think twice about whether you want to use AI." Other ethical considerations Dr Peter says there are myriad of ethical considerations that come with these tools and systems. While you may use it to check spelling or for feedback, "you don't want to pass off AI work as your own". Also, if you're using these tools to recreate work in the style of an author or artist, they are "not being renumerated", despite some of these systems
SBS Australia
23-04-2025
- Business
- SBS Australia
Gold rush: Why are people flocking to this 'useless' commodity?
Investors have been spooked by erratic stock market changes and are putting there money into gold instead. Credit: AAP The price of gold has surged to its highest value on record amid volatile stock markets and global economic uncertainty, as investors move their money to what they hope is a "safe haven". The price of gold per ounce rose to US$3,500 ($5,477) on Tuesday, the highest value it has reached since records began. It later dropped back to around US$3,280 ($5,165). Dr Pramod Kumar Yadav, a lecturer in finance at the University of Sydney Business School, earlier told SBS News the recent stock market crashes are due to the uncertainty that economic measures like trade tariffs can create, making stock markets risky for investors. "There are also going to be people moving money from risky assets like the stock market to safer assets like cash, gold, and government bonds," he said. Gold has historically been considered a reliable commodity for investors, immune to stock market crashes and government decisions. Honorary professor Andrew Stoeckel, an economist from the Australian National University, told SBS News gold has no "intrinsic" economic value. "How would having a bucket of gold on a desert island help you? It would be useless, you can't eat it, you can't plant crops with it. But people like shiny stuff," he said. Much like the stock market, which is perceived as a value rather than physical cash, there is a belief that gold is scarce and precious, which gives it a valued status in society, Stoeckel said. He likened gold to silver, saying that while they are both precious metals, silver has physical applications and uses, such as being a good conductor, which gold lacks. He said the appeal of gold over the centuries is that it is a physical, tangible object that people believe governments and institutions will continue to "honour and value". "There have been periods of high uncertainty, and people have flocked to gold, but again, gold has no intrinsic value. Just the belief that it does," Stoeckel said. Peter Swan, a professor of finance from the University of NSW Business School, told SBS News gold, like any commodity, is based on supply and demand, and that the supply of gold is unlikely to spike. "Unless another explorer like Columbus comes across a big bucket of gold in the Americas, we're unlikely to see a change," he said. Swan said investing in gold is no different from other forms of investment, as you still get a return for your money. "They all exist on a spectrum and have different proportions of cash or earnings in returns. Shares have a dividend yield of around 4 or 5 per cent, while investing in housing gives a lower yield of around 2 per cent," he said. "Gold has zero cash component because the expected appreciation is far higher." There are several ways to invest in gold, including buying physical gold, such as jewellery or bullion, directly from the Royal Australian Mint. You can also buy shares in a gold exchange-traded fund, where gold is bought on behalf of shareholders. Swan predicted the popularity of gold and its value would continue to rise. "The beauty of gold is that the supply is relatively fixed, and that's going to continue, and political and economic uncertainty are probably going to get a lot worse. So we're going to see the price of gold, I think, rise even higher," he said. "There may be a resurrection of these crazy tariff arrangements, which would kill the global economy, in which case gold, of course, would be seen as a very safe haven in such turbulent times." Finance Australia Donald Trump Share this with family and friends
