I asked ChatGPT if it needs an AFSL, this is what it said...

9 January 2023 by Adam Caines

FinTech

Does ChatGPT need an AFSL?

As a language model, ChatGPT does not need an Australian Financial Services (AFS) licence because it is not capable of providing financial services or advice. It is a tool that generates text based on the input it receives, but it does not have the ability to make decisions or offer recommendations. It is the responsibility of individuals and businesses to obtain financial advice from qualified and licensed professionals. In Australia, it is a legal requirement for businesses and individuals to hold an AFS licence if they provide financial services, including giving financial advice, to clients.

What do you think?

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Comments

IdeaSpies @ 2023.01.09 1:12 AM

Great answer as well when I asked if it had heard of cheerscrolling:

"Cheerscrolling is a term that refers to the practice of actively seeking out and engaging with uplifting or positive content on social media or the internet. It is often contrasted with "doomscrolling," which refers to the tendency to spend a lot of time reading or watching negative or disturbing news or content online. Some people practice cheerscrolling as a way to counteract the negative effects of doomscrolling or to maintain a more positive outlook."

IdeaSpies @ 2023.01.15 3:03 AM

A new way to address cheating using ChatGPT

https://ideaspies.com/posts/a-program-that-can-tell-if-chatgpt-did-your-homework

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