Learning Generative AI: #2 Satisfying Your Curiosity

How Technology is Transforming Our Lives

This is the next in my series about learning Generative AI. It's more about fun than increasing productivity. It's about satisfying your curiosity.

One of my favorite uses of generative AI is simply satisfying my curiosity. Unlike many other uses, this doesn’t improve productivity but is a lot of fun. I’ll jump into a lot of examples with questions you would probably not ask, but I want to give you a sense of how you could use it when a question crosses your mind, or someone asks you an interesting question.

I tend to use different generative AI models, sometimes just for variety, and sometimes I ask the same question and then compare responses. I find that the responses can sometimes vary, and once in a while, one is incorrect. There are also some differences in how current their information is.

As of early 2024, several generative AI systems are known for having relatively current information, though it's important to note that all AI models have some lag in their knowledge cutoff dates. Here are some of the most up-to-date systems:

GPT-4 (OpenAI):

Knowledge cutoff: April 2023

 Known for its broad knowledge base and advanced reasoning capabilities

Claude 3 (Anthropic):

Knowledge cutoff: April 2024

One of the most recent updates among major AI models

Google's Gemini:

The exact cutoff date is unclear, but it reported to have more recent information than many competitors

Integrated with Google's search capabilities for real-time information retrieval

Anthropic's Constitutional AI models:

Regularly updated, with specific cutoff dates varying by model version

Meta's LLaMA 2:

While the base model's cutoff is earlier, it's designed to be fine-tuned with more recent data

Perplexity AI:

Combines language models with real-time web searches for up-to-date information

Bing Chat (now Copilot):

 Integrated with Microsoft's search engine for access to current information

It's worth noting that the landscape of AI models is rapidly evolving, and new models or updates to existing ones are frequently released. Additionally, some AI services are beginning to implement real-time data fetching to supplement their base knowledge and allow them to access more current information on specific topics.

Curiosity is a fundamental human trait characterized by the desire to learn, explore, and understand new information and experiences. It drives individuals to seek out knowledge, ask questions, and engage in activities that expand their understanding of the world around them. This intrinsic motivation can lead to significant advancements in personal growth, as it encourages continuous learning and increased knowledge, even if trivial.

Generative AI can significantly enhance human curiosity by providing tailored and interactive learning experiences. It can generate answers to questions and create content that explores new ideas, thus fostering an environment of continuous inquiry.

Let’s look at some examples of how generative AI can satisfy your curiosity. I’ll organize them into categories and illustrate them using different generative AI applications. Some of the responses are long, so if you aren’t curious about that question, just skip it. This article aims to give you a sense of how you can use generative AI to satisfy your curiosity.

Entertainment Curiosity

Sometimes, you may be watching a TV show or movie and get curious about something related to what you are watching. Here are a couple of examples illustrating how you can satisfy that curiosity.

Example #1: Are you curious about the past winners of AGT

I was watching America’s Got Talent the other night and wondered who where the past winners were and what they did.

ChatGPT Prompt:

Who were the last ten winners of America’s Got Talent?

ChatGPT Response:

Here are the last ten winners of America's Got Talent and their performances:

2023: Adrian Stoica and Hurricane - A trained dog act featuring impressive tricks and routines.

2022: Mayyas - A Lebanese dance troupe known for their mesmerizing and synchronized dance performances.

2021: Dustin Tavella - A magician combining storytelling with magic acts.

2020: Brandon Leake - A spoken word poet who captivated audiences with his emotional and powerful performances.

2019: Kodi Lee - A singer and pianist who is blind and autistic, known for his moving musical performances.

2018: Shin Lim - A card magician celebrated for his sleight of hand and close-up magic tricks.

2017: Darci Lynne Farmer - A singing ventriloquist who performed with her puppet characters.

2016: Grace VanderWaal - A singer and ukulelist who performed original songs.

2015: Paul Zerdin - A ventriloquist known for his comedic routines with his puppet characters.

2014: Mat Franco - A magician specializing in close-up magic and sleight of hand.

These winners showcase a diverse range of talents, from magic and singing to unique acts like ventriloquism and dance (Entertainment Tonight) (Wikipedia).

Example #2: Are you curious about different versions of a movie, book, or TV show?

I was watching the TV series Presumed Innocent and had previously seen the movie and read the book, but the ending seemed different, so I was curious about it.

ChatGPT Prompt:

Are there different endings in the various book, movie, and television versions of Presumed Innocent?

ChatGPT Response:

Yes, there are notable differences in the endings of the book, movie, and television versions of Presumed Innocent by Scott Turow.

Book Version (1987)

In the original novel, Rusty Sabich is an assistant district attorney who is accused of murdering his colleague and lover, Carolyn Polhemus. As the investigation unfolds, Rusty's wife, Barbara Sabich, is revealed to be the actual murderer. Barbara confesses to Rusty, explaining that she killed Carolyn out of jealousy and to protect their family. The book ends with Rusty deciding to stay with Barbara despite her crime.

Movie Version (1990)

The movie, directed by Alan J. Pakula and starring Harrison Ford as Rusty, closely follows the plot of the book with some variations. The climax reveals that Barbara (played by Bonnie Bedelia) killed Carolyn. The movie’s ending shows Rusty discovering a piece of evidence (a bloody towel) hidden by Barbara, which confirms her guilt. Similar to the book, the movie ends with Rusty choosing to stay with Barbara despite knowing she is the murderer.

Television Series (2023)

The Apple TV+ series adaptation of Presumed Innocent follows the book's main plot but introduces additional character development and subplots that provide a fresh take on the story. The television series' ending includes unique twists (including the daughter’s role in the murder) and variations to keep the story engaging for viewers familiar with the previous versions.

Example #3: Are You Looking for something new to watch?

Maybe you are looking for something new to watch and are curious about popular ones. Ask ChatGPT.

ChatGPT Prompt:

What were the top three streaming TV series in 2023 in each of these categories: Humor, Thriller, Drama, and Comedy?

ChatGPT Response:

Here are the top three streaming TV series of 2023 in each of the specified categories:

Humor

1.     "Colin From Accounts" (Fox) - This Australian comedy revolves around a couple brought together by an accident involving a dog named Colin. The series is praised for its humorous and heartwarming storytelling.

2.     "The Bear" (FX) - This dark comedy-drama explores the chaotic world of a Chicago chef, blending intense moments with sharp humor.

3.     "Platonic" (Apple TV+) - Starring Seth Rogen and Rose Byrne, this series follows two friends reconnecting in their 40s, delivering plenty of laughs through their dynamic chemistry (Columns) (Time Out Worldwide) (Time Out Worldwide).

Thriller

1.     "Only Murders in the Building: Season 3" (Hulu) - This mystery thriller, starring Steve Martin, Martin Short, and Selena Gomez, continues to captivate with its blend of suspense and humor.

2.     "Yellowjackets: Season 2" (Showtime) - A psychological thriller that delves deeper into the survival and mysteries surrounding a high school girls' soccer team stranded in the wilderness.

3.     "Slow Horses: Season 3" (Apple TV+) - This espionage thriller follows British intelligence rejects in Slough House as they uncover and thwart conspiracies 

(Columns) (Time Out Worldwide).

Drama

1.     "Succession: Season 4" (HBO) - The critically acclaimed series continues to follow the Roy family’s power struggles, maintaining its intense drama and sharp writing.

2.     "The Last of Us" (HBO) - This post-apocalyptic drama, based on the popular video game, has been praised for its storytelling and character development.

3.     "Fargo: Season 5" (FX) - Returning to its roots with a gripping new storyline, this season is lauded for its compelling performances and intricate plot 

(Columns).

Comedy

1.     "Abbott Elementary: Season 2" (ABC) - This mockumentary-style series set in a Philadelphia public school continues to receive acclaim for its humor and heart.

2.     "Ted Lasso: Season 3" (Apple TV+) - The feel-good comedy about an American football coach managing a British soccer team keeps winning fans with its positivity and humor.

3.     "Barry: Season 4" (HBO) - Bill Hader’s dark comedy about a hitman turned actor remains a standout with its unique blend of humor and darkness 

(Columns) (Time Out Worldwide).

These series represent some of the best in their genres, offering a mix of humor, suspense, drama, and compelling storytelling.

Now you realize that you don’t subscribe to all of these streaming services, only Netflix.

Example #4: OK, refine your question to Netflix.

ChatGPT Prompt:

What were the five most popular shows on Netflix in 2023?

ChatGPT Response:

The five most popular shows on Netflix in 2023 were:

1.     The Night Agent - A gripping political thriller following an FBI agent who answers a call that plunges him into a deadly conspiracy.

2.     Ginny & Georgia - The second season continues the mother-daughter drama with added twists and emotional depth.

3.     The Glory - A Korean drama about a woman seeking revenge on her high school bullies.

4.     Wednesday - The first season of this dark comedy centered on Wednesday Addams solving a mystery at her school.

5.     Queen Charlotte: A Bridgerton Story - A prequel to "Bridgerton," focusing on the young Queen Charlotte's rise to prominence.

These shows captivated audiences with their compelling storytelling and unique characters【126†source】.

I found these odd, so I asked Claude and Gemini the same question. They both gave almost the same response, so they must all be using the same sources.

Sports Curiosity

Sports can generate a lot of curiosity, and generative AI can satisfy that curiosity in most cases.

Example #5: Are you curious about the number of 2024 Olympics events?

Like many others, I was watching the Summer Olympics and began to wonder just how many events there were. Interestingly this was a complex question to answer. I asked Gemini, but it said it was too complex to answer. Claude responded with all of the categories but not the number of events. ChatGPT took a little while but gave a complete answer.

ChatGPT Prompt:

How many different events are there in each category in the 2024 Summer Olympics?

ChatGPT Response:

The 2024 Summer Olympics, officially known as the Games of the XXXIII Olympiad, are held in Paris, France. Here's a breakdown of the number of events in each category based on the latest information available:

1.     Aquatics

·       Swimming: 37 events

·       Diving: 8 events

·       Water Polo: 2 events

·       Artistic Swimming: 2 events

·       Marathon Swimming: 2 events

2.     Archery: 5 events

3.     Athletics (Track and Field): 48 events

4.     Badminton: 5 events

5.     Basketball: 

·       Basketball: 2 events

·       3x3 Basketball: 2 events

6.     Boxing: 13 events

7.     Breaking (Breakdancing): 2 events (new to the Olympics)

8.     Canoe/Kayak:

·       Slalom: 4 events

·       Sprint: 10 events

9.     Cycling:

·       BMX Freestyle: 2 events

·       BMX Racing: 2 events

·       Mountain Bike: 2 events

·       Road: 4 events

·       Track: 12 events

10.  Equestrian: 6 events

11.  Fencing: 12 events

12.  Field Hockey: 2 events

13.  Football (Soccer): 2 events

14.  Golf: 2 events

15.  Gymnastics:

·       Artistic: 14 events

·       Rhythmic: 2 events

·       Trampoline: 2 events

16.  Handball: 2 events

17.  Judo: 15 events

18.  Modern Pentathlon: 2 events

19.  Rowing: 14 events

20.  Rugby Sevens: 2 events

21.  Sailing: 10 events

22.  Shooting: 15 events

23.  Skateboarding: 4 events

24.  Sport Climbing: 4 events

25.  Surfing: 2 events

26.  Table Tennis: 5 events

27.  Taekwondo: 8 events

28.  Tennis: 5 events

29.  Triathlon: 3 events

30.  Volleyball:

·       Beach Volleyball: 2 events

·       Volleyball: 2 events

31. Weightlifting: 10 events

32.  Wrestling:

·       Freestyle: 12 events

·       Greco-Roman: 6 events

In total, there are 329 events across 32 sports disciplines. 

So, now you can impress your friends: “Do you know there are 329 Olympic Events, including 37 in swimming alone?

Example #6: Are you curious about the new baseball statistics?

I was watching baseball the other night, even though I hadn’t watched it for a while, and I was confused about some of the batting statistics. So, I asked ChatGPT.

ChatGPT Prompt

What are the 5 or 6 batting averages they always show for each batter in baseball?

ChatGPT Response:

In baseball broadcasts, the key batting averages and statistics commonly shown for each batter often include:

1.     Batting Average (AVG): This is the ratio of a batter's hits to their at-bats, representing how often the player gets a hit.

Formula: AVG=HitsAt/Bats

2.     Home Runs (HR): The total number of home runs a player has hit.

3.     Runs Batted In (RBI): The total number of runs a player has driven in with their at-bats.

4.     On-Base Percentage (OBP): This measures how often a batter reaches base.

Formula: OBP=(Hits+Walks+Hit-by-Pitches)/(At-Bats+Walks+Hit-by-Pitches+Sacrifice Flies)

5.     Slugging Percentage (SLG): This measures the number of bases a player records per at-bat, indicating a hitter's power.

Formula: SLG=Total Bases/At-Bats

6.     On-Base Plus Slugging (OPS): This combines On-Base Percentage and Slugging Percentage to provide a comprehensive measure of a batter's overall performance.

Formula: OPS=OBP+SLG

These statistics give a well-rounded view of a player's effectiveness and style at the plate, from their ability to get on base and hit for power to their overall contribution to the team's scoring.

If I found this helpful enough, I could have intelligent conversations with my friends. Then I was confused by the new rules for extra innings. So I asked the following question:

Example #7: Are you also curious about the new extra inning rules?

The game went into extra innings, and I didn’t fully understand how the new rules worked.

ChatGPT Prompt:

What are the new rules for playing extra innings?

ChatGPT Response

The new rules for playing extra innings in Major League Baseball (MLB) were implemented to increase the pace of play and reduce the length of games. The key rule, known as the "runner on second" rule, includes the following:

1. Runner on Second Base: At the start of each half-inning in extra innings, the batting team begins with a runner on second base. This runner is typically the player in the batting order immediately preceding the lead-off batter for that inning. For example, if the ninth batter is set to lead off, the eighth batter or the player who made the last out in the previous inning will start on second base. It’s not sudden death since the home team always has a chance in the second half of the inning.
2. Scoring and Strategy: This rule aims to increase the likelihood of scoring and introduce more strategic elements into the game, such as decisions about bunting, base running, and pitching changes. It also seeks to conclude games more quickly by making it easier for teams to score in extra innings.
3. Pitching Changes and Lineups: All other standard baseball rules remain in effect, including rules governing pitching changes, substitutions, and lineup management.

This rule was introduced during the 2020 MLB season as part of health and safety protocols during the COVID-19 pandemic but has continued to be used in subsequent seasons.

Lie Detector/Truth Verifier

It’s an election year, and people are always arguing about the truth behind politicians' statements. So, let’s use generative AI.

Example #8: Want to verify the truth about a bold statement?

Donald Trump recently made a bold statement that Venezuela released all of its prisoners and inmates in mental institutions and sent them all to the US.

ChatGPT Prompt:

Donald Trump recently made a bold statement that Venezuela released all of its prisoners and inmates in mental institutions and sent them all to the US. Can you state that quote and then discuss the true facts?

ChatGPT Response:

Donald Trump claimed that Venezuela had released all of its prisoners and mental institution inmates and sent them to the U.S. The truth is more nuanced. While some criminals from Venezuela have indeed migrated to the U.S., there is no verified evidence supporting an organized effort by the Venezuelan government to release prisoners specifically to infiltrate the U.S. Various fact-checks and reports indicate that such a broad claim lacks substantiated evidence and should be viewed with skepticism (FactCheck.org) (The Dispatch) (ADN América) (PolitiFact).

Example #9: Did Kamala Harris really say that she has never been to Europe?

I heard that Kamala Harris had never been to Europe and that she was running for president. Can that really be true?

ChatGPT Prompt:

Recently, Kamala Harris stated that she had never been to Europe. Can you repeat her exact quote and verify if it is true?

ChatGPT Response:

During an interview, Kamala Harris stated that she has never been to Europe, saying, "And I haven't been to Europe," when addressing criticism about her not visiting the U.S.-Mexico border earlier in her term. This statement is accurate for her tenure as Vice President. However, there is no public record indicating whether she traveled to Europe before assuming the role of Vice President.

Kamala Harris's career before becoming Vice President was primarily focused on her roles within the United States, including her time as District Attorney of San Francisco, Attorney General of California, and U.S. Senator from California (Nicki Swift) (The White House). While these roles involved significant travel within the U.S., there are no detailed records or reports confirming any visits to Europe during this period.

Current Events

Many people follow current events but are curious about the context behind them. They really don’t want to start a time-consuming research process, but with generative AI they can simply ask a question.

Example # 10: Are you curious about different presidential election processes

Several elections are currently taking place worldwide, and they seem to be different. Let’s ask ChatGPT about these differences.

ChatGPT Prompt:

Explain the differences in the way presidents are elected in the US and other major countries such as France, UK, and Germany.

ChatGPT Response:

Here are the comparisons and differences in presidential election processes in these countries. 

1.     United States (US):

·       The US elects its president through the Electoral College system, where voters in each state choose electors who then vote for the president.

·       The president is elected based on the number of electoral votes, not the popular vote.

·       The US has a fixed term of four years for the president, with a maximum of two terms.

2.     France:

·       France elects its president through a two-round system where the top two candidates from the first round compete in a runoff election.

·       The president is elected through direct popular vote, with the candidate receiving the majority of votes becoming the president.

·       The French president serves a five-year term and can be re-elected for a second term.

3.     United Kingdom (UK):

·       The UK does not directly elect its prime minister. Instead, the leader of the political party that wins the most seats in the House of Commons becomes the prime minister.

·       The UK has a parliamentary system where the prime minister is the head of government, not the head of state.

·        The prime minister's term is not fixed and depends on the outcome of general elections or internal party decisions.

4.     Germany:

·       Germany elects its chancellor, the head of government, through a mixed-member proportional representation system.

·       Voters cast two votes: one for a candidate in their district and another for a political party.

·        The chancellor is elected by the Bundestag (parliament) and serves a four-year term, with no limit on the number of terms.

These countries have different electoral systems and processes for electing their leaders, reflecting their unique political structures and traditions.

The question of which electoral system is "better" is subjective and depends on various factors, including the country's political culture, values, and goals. Each system has its strengths and weaknesses:

• The Electoral College system in the US can lead to discrepancies between the popular vote and the electoral outcome, as seen in some elections. It gives more weight to smaller states and can sometimes lead to candidates winning the presidency without winning the popular vote.
• France's direct popular vote system ensures that the candidate with the majority of votes becomes president, promoting direct democracy. However, the two-round system can be complex and may not always reflect the diverse views of the electorate.
• The UK's parliamentary system allows for a clear link between the executive branch and the legislature, promoting accountability. However, it can lead to situations where the ruling party may have a majority in Parliament without winning the popular vote.
• Germany's mixed-member proportional representation system aims to balance the representation of political parties with the direct representation of constituents. This system can lead to coalition governments, fostering cooperation among parties but potentially resulting in slower decision-making.

Each system has its pros and cons, and what may be considered "better" depends on the values and priorities of the country and its citizens. Ultimately, the effectiveness of an electoral system is judged by how well it represents the will of the people, promotes stability, and ensures good governance.

Example #11: Are you curious about Israel’s historical relationship with Gaza?

It’s always in the news, but most people may be curious about the context and history behind the relationship between Israel, Gaza, and the West Bank. I asked Gemini, but it responded by suggesting that I use Google search. ChatGPT provided an overly simple response.

Claude’s Prompt:

Explain the historical relationship between Israel, Gaza, and the West Bank.

Claude’s Response:

The historical relationship between Israel and Gaza and the West Bank is deeply complex and rooted in decades of conflict, political tensions, and competing territorial claims. This relationship began to take its modern shape following the establishment of the State of Israel in 1948 and the subsequent Arab-Israeli War. During this conflict, Egypt took control of the Gaza Strip, while Jordan annexed the West Bank. The situation changed dramatically in 1967 when Israel captured both territories, along with other areas, during the Six-Day War. Following this, Israel began establishing settlements in these areas, a move considered illegal under international law by much of the international community.

The 1990s saw a period of cautious optimism with the Oslo Accords, which established the Palestinian Authority to govern parts of the West Bank and Gaza. However, the failure to reach a comprehensive peace agreement led to increased tensions and the outbreak of the Second Intifada in 2000. In 2005, Israel unilaterally withdrew its settlements and military presence from Gaza, but maintained control over its borders, airspace, and coastline. The situation in Gaza further complicated in 2007 when Hamas, considered a terrorist organization by Israel and several Western countries, took control of the territory, leading to a tight blockade by Israel and Egypt.

Meanwhile, the West Bank remained under partial Palestinian Authority control and partial Israeli military control, with Israeli settlements continuing to expand. This has resulted in a fragmented Palestinian territory, with the West Bank and Gaza physically separated and under different governance. The relationship between Israel and these Palestinian territories continues to be marked by periodic outbreaks of violence, failed peace initiatives, and ongoing disputes over borders, security, settlements, and the status of Jerusalem. The situation remains one of the most intractable conflicts in the world, with profound implications for regional stability and international relations.

Example #12: Then, as a follow-up question, I wanted to learn more about Israel’s blockade of Gaza.

Claude’s Prompt:

Explain Israel's blockade of Gaza, including the historical context, rationale, how it is implemented, the impact on residents of Gaza, and international reactions.

Claude’s Response:

Israel's blockade of Gaza is a complex and contentious issue with deep historical roots and far-reaching implications. The blockade began in its current form in 2007, following Hamas's takeover of the Gaza Strip, but its origins can be traced back to earlier restrictions imposed after the Second Intifada in 2000. Israel, citing security concerns, implemented the blockade to prevent weapons and materials that could be used for military purposes from entering Gaza, particularly given Hamas's stated goal of Israel's destruction and its history of attacks against Israeli civilians.

The blockade is enforced through strict control of Gaza's land borders, airspace, and maritime access. Israel maintains control over two of the three land crossings into Gaza (Erez for people and Kerem Shalom for goods), while Egypt controls the third at Rafah. The naval blockade extends 6 nautical miles from Gaza's coast (occasionally extended to 9 or 12 miles), and Israel maintains complete control over Gaza's airspace. These measures severely restrict the movement of people and goods in and out of the territory.

The impact on Gaza's residents has been profound and multifaceted. The blockade has contributed to a severe economic crisis, with high unemployment rates and limited economic opportunities. It has also led to shortages of essential goods, including construction materials, medical supplies, and fuel. The restrictions on movement have isolated Gaza from the outside world, affecting education, healthcare, and family reunification. Critics argue that these conditions amount to collective punishment of Gaza's civilian population.

International reaction to the blockade has been largely critical, with many countries and organizations, including the United Nations, calling for its end. The blockade has been described as a form of collective punishment, which is prohibited under international law. However, Israel maintains that the blockade is necessary for its security, pointing to instances where materials entering Gaza have been used to construct tunnels and weapons used against Israeli civilians. Some partial easing of the blockade has occurred over the years, particularly after international pressure following incidents like the 2010 Gaza flotilla raid.

The situation remains highly volatile, with periodic escalations of violence between Israel and Hamas. Efforts to lift the blockade are often tied to broader peace initiatives and security arrangements, but progress has been limited. The blockade of Gaza continues to be a key point of contention in the Israeli-Palestinian conflict, reflecting the complex interplay of security concerns, humanitarian issues, and the broader geopolitical landscape of the Middle East.

Example #13: Are you curious about the Federal Reserve?

The US Federal Reserve has been making headlines in its attempt to fight inflation for a while. Many people are curious about how it works and whether it is successful. I asked all three generative AI applications, and Claude gave a more complete response.

Claude Prompt:

Explain the US Federal Reserve, including how it is governed, how the chairman is appointed, its mandate, how it fights inflation, and how successful it has been.

Claude’s Response:

The Federal Reserve System, often simply referred to as "the Fed," is the central bank of the United States and plays a crucial role in managing the nation's monetary policy and maintaining financial stability. Established in 1913 by the Federal Reserve Act, the Fed operates as an independent entity within the government, designed to be insulated from short-term political pressures while still being accountable to Congress and the public.

The Fed's structure is unique, consisting of a network of 12 regional Reserve Banks coordinated by the Federal Reserve Board of Governors in Washington, D.C. This decentralized structure was intended to balance national and regional interests in monetary policy-making. The Board of Governors, the Fed's main governing body, consists of seven members appointed by the President and confirmed by the Senate. These governors serve staggered 14-year terms, which helps ensure continuity and independence in policy-making.

The Chairman of the Federal Reserve, who also serves as a member of the Board of Governors, is appointed by the President and confirmed by the Senate for a four-year term. The Chairman plays a crucial role in shaping monetary policy and often becomes the public face of the Fed, testifying before Congress and communicating the Fed's decisions to the public. Notable chairmen have included Paul Volcker, Alan Greenspan, Ben Bernanke, Janet Yellen, and the current chair, Jerome Powell.

The Fed's mandate, as set by Congress, is twofold: to promote maximum employment and stable prices. This "dual mandate" requires the Fed to balance potentially competing objectives, as policies that might boost employment in the short term could potentially lead to higher inflation, and vice versa. In 2012, the Fed adopted an explicit inflation target of 2% per year, measured by the Personal Consumption Expenditures (PCE) price index, to help anchor inflation expectations.

To fulfill its mandate, the Fed's primary tool is the management of interest rates, particularly the federal funds rate, which is the interest rate at which banks lend to each other overnight. By adjusting this rate, the Fed influences borrowing costs throughout the economy. When inflation is too high, the Fed typically raises interest rates to cool down economic activity and reduce inflationary pressures. Conversely, when unemployment is high or economic growth is sluggish, the Fed may lower interest rates to stimulate borrowing, spending, and investment.

In addition to traditional interest rate policy, the Fed has employed other tools, especially in times of crisis. These include quantitative easing (large-scale asset purchases to lower long-term interest rates), forward guidance (communicating future policy intentions to influence market expectations), and various lending facilities to provide liquidity to financial markets.

The Fed's success in achieving its mandate has varied over time. In the late 1970s and early 1980s, under Chairman Paul Volcker, the Fed successfully tamed high inflation, though at the cost of a severe recession. The period from the mid-1980s to the early 2000s, often called the "Great Moderation," saw relatively stable inflation and economic growth, leading to praise for the Fed's management. However, the Fed faced criticism for not doing enough to prevent the housing bubble that led to the 2008 financial crisis.

The Fed's response to the 2008 crisis, led by Chairman Ben Bernanke, was unprecedented in its scale and scope. Through aggressive interest rate cuts, quantitative easing, and the establishment of various lending facilities, the Fed played a crucial role in preventing a complete financial collapse. However, the slow recovery that followed led to debates about the effectiveness of monetary policy in stimulating growth in a low-interest-rate environment.

More recently, the Fed's response to the economic impact of the COVID-19 pandemic in 2020 was swift and massive, including cutting interest rates to near zero, implementing large-scale asset purchases, and establishing numerous lending programs to support various sectors of the economy. While these actions helped prevent a financial crisis and supported the economic recovery, they also contributed to a significant expansion of the Fed's balance sheet and raised concerns about potential long-term inflationary pressures.

The Fed's ability to navigate the complex and ever-changing economic landscape continues to be tested. Critics argue that the Fed's policies have contributed to asset bubbles and increased wealth inequality, while supporters credit the institution with maintaining overall economic stability. As the economy faces new challenges, including the potential long-term impacts of the pandemic, climate change, and technological disruption, the Fed's role in shaping monetary policy and maintaining financial stability remains as crucial as ever.

Misc Curiosity

People are probably infinitely curious about many different things. Here are some examples.

Example #14: Are you curious about the most popular breeds of dogs? 

Claude Prompt:

What are the most popular breeds of dogs in the US?

Claude Response:

Here's a list of the most popular dog breeds in the US based on recent data from the American Kennel Club (AKC):

1.     Labrador Retriever - Consistently ranked as the most popular breed for many years

2.     French Bulldog - Has risen rapidly in popularity in recent years

3.     Golden Retriever

4.     German Shepherd

5.     Poodle

6.     Bulldog

7.     Rottweiler

8.     Beagle

9.     Dachshund

10.  German Shorthaired Pointer

Example #15: Are you curious about the most popular baby names?

When people hear a baby name that doesn’t sound familiar, they often wonder what are now the most popular names for new babies.

ChatgPT Prompt:

What were the most popular baby names in 2023?

ChatGPT Response:

The most popular baby names in 2023, according to the Social Security Administration, are as follows:

Boys:

1.     Liam

2.     Noah

3.     Oliver

4.     James

5.     Elijah

6.     Mateo

7.     Theodore

8.     Henry

9.     Lucas

10.  William

Girls:

1.     Olivia

2.     Emma

3.     Charlotte

4.     Amelia

5.     Sophia

6.     Mia

7.     Isabella

8.     Ava

9.     Evelyn

10.  Luna

I bet you wouldn’t have guessed most of these on the list, so curiosity pays off. The other two generative AI applications returned the same list because they use the same official source.

Conclusion

I hope that through all of these examples, I showed that generative AI can be fun to use to satisfy your curiosity. Be sure to try it and see how it works for you!

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