We recently published a blog about the value of ChatGPT for Financial Advisors and, like most AI tech these days, the technology is evolving faster than anyone can write about it. (Have you seen our AI art inspired LinkedIn Ads?)
While I hope you found what we’ve shared so far useful, today I’d like to introduce you to something new: SiteGPT. It is, well, pretty much exactly what it sounds like, ChatGPT for your website. But most importantly–ONLY your website.
For Potomac, this started as a simple exercise. Could we use the ChatGPT engine to create an interactive chatbot on our website? Turns out, we could. With a simple WordPress plugin we had a version up and running in no time.
It was slick, but it required a tremendous amount of specificity. For example, unless you used our full legal name, “Potomac Fund Management, Inc.” it would often get us confused with other organizations named Potomac. And even if you did, it wasn’t always accurate. Then there was the problem of limiting the content. Because it utilized the entire ChatGPT database, you could literally ask it anything. “How do I best fry and egg?” or “How can I make the most out of a trip to Yosemite?” isn’t really what I want people doing on potomacfund.com.
So we thought, “this is a great idea when the technology is ready.”
Well, 48 hours later, the technology was ready. SiteGPT launched on April 5th, and we’re pretty sure we were one of the first people to give it a go.
What we love about this tech, is that while it utilizes the ChatGPT engine, it only pulls content from a website you specify (in this case, our own). Within that, you can then specify which pages within said website you want the bot to learn. We chose:
- Home
- Primary Pages
- Select Blogs
- Bios
- Disclosures
- Portions of our ADV and Contract
This armed the bot with a large database of factually accurate and compliance approved information from which to craft response. You can ask about our strategies, about our TAMP, and about our staff.
Want to ask it what the Morningstar ticker is for our Bull Bear strategy? Go for it. Need the inception date for Navigrowth? It can help.
Even better, it won’t try to answer questions it shouldn’t. If you ask the compliance nightmare, “how much money can Potomac make me?” or “what stocks should I buy” you won’t get any information because we’ve never published any.
On the other hand, the more open-ended question, “what should I invest in?” will prompt a response similar to this:
Why? Because we have written on this topic, and we included it in the bot’s training. Simple as that.
The product isn’t free. The base plan starts at $19/month and quickly goes up from there. I will say however, I think this is the beginning of a revolution in the way we build websites. Why would you ever go looking for information when you can just ask?
The implications for how this will change the way we search, the way we interact, and the way we process information on the web is staggering. I highly recommend you follow this tech, even if you’re not ready to implement, else you quickly find yourself lightyears behind.
The technology, to date, is far from perfect. The bot will sometimes require a peculiar amount of specificity, or it will simply give up. However, we’ve learned that the more we ask it, the more we learn how to craft the information we feed it. So for now, we’ll consider this our “beta test.”
Of course, this being Potomac, and me being me, we’re excited to utilize it and have a little fun with it. So, while our bot won’t help you plan your next vacation, go ahead, and ask it how Manish lost his hair.
(If you haven’t worked it out yet, you can test Potomac’s SiteGPT by clicking the robot icon in the bottom right of this page.)
Potomac Fund Management ("Company") is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of the advisory firm by the SEC nor does it indicate that the advisory firm has attained a particular level of skill or ability. This information is prepared for general information only and should not be considered as individual investment advice nor as a solicitation to buy or offer to sell any securities. This material does not constitute any representation as to the suitability or appropriateness of any investment advisory program or security. Please visit our FULL DISCLOSURE page. The company does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to the Company website or incorporated herein, and takes no responsibility for any of this information. The views of the Company are subject to change and the Company is under no obligation to notify you of any changes. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy will be profitable or equal to any historical performance level.
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