At Tamarack, we talk a lot about AI and, during the warmer months, also spend a fair amount of time talking about fishing!
June is one of the best times to fish smallmouth bass in the upper Midwest. I recently had a fun experience with my grandson – the little guy – that caused me to think about how AI might change how he’ll bass fish in the future. The details are found in a longer post here, but like most applications of AI, it all starts with understanding that there are two types of AI: generative and operational.
Generative AI is demonstrated by platforms like ChatGPT and DALL-E: algorithms that can generate new content of various types. At this point, these platforms are risky because the data upon which they are trained is often unknown, and the algorithms appear to put more emphasis on answering the question than answering it correctly. See the “South Dakota Governors” test as a scary example of generative AI.
Perhaps my experience building control systems helps me see it clearly, but operational AI does not scare me. This form of AI helps improve operations by building models using historical data to predict future outcomes. Good outcomes are pursued more diligently, and bad ones – the ones that contain risk – are avoided. The methods of developing and using operational AI are more transparent and easier to validate.
Whether you are going fishing or running an equipment finance company, give us a call. We love talking about both!
Scott Nelson, president and CDO, Tamarack
