Nobody had heard of a prompt engineer a few months ago but today it’s the newest, hottest job around, commanding anything up to $1 million a year. So, what does a prompt engineer do?
In essence, they ask AI (Artificial Intelligence) the right question to get the right answer.
Let’s assume a financial planning firm want AI to improve efficiency and so employ a prompt engineer.
1. Good-bye marketing guy.
The new guy asks AI (something like ChatGPT) “Give me copy for a financial planning business to promote a retirement service targeting people close to retirement” and in seconds there it is. The user can also;
i) fine-tune the “tone” of the response,
ii) ask AI for the email marketing experts and authors it uses,
iii) ask AI to explain why it chose to structure the copy the way it did,
iv) ask AI for a few alternative approaches and strategies,
v) ask Dall-E for a complimentary image.
2. Good-bye expensive financial planning software and paraplanner
Provide ChatGPT (version 3) with your current super balance, years to retire and retirement needs and it does a very good job of calculating and explaining how much you need to contribute to meet retirement goals. Version 3 is free and only knows stuff up to 2021 so it uses old rates and also applies them incorrectly, ignoring interest on contributions. Paid versions will fix this going forward and be very cost effective.
Advisers can then use Finchat.io to get detailed product analysis. Again, Finchat.io only has around 800 products but this will probably grow exponentially and other AI firms will join the “product” space.
3. Good-bye office manager
Financial planning firms have to be on top of operational policies and ASIC guide lines. There are many tools like Wondershare that use AI to extract the key points of a PDF document in seconds.
If the office manager also compiles sales and other statistics there are many tools to do this effectively and some like Salesforce include AI.
4. Good-bye prompt engineer
Once the prompt engineer has developed all the prompts it’s a cruisy job that could be performed by a less expensive youngster keen to start a career as a prompt engineer and willing to work for a basic wage.
AutoGPT sell “prompt bundles” with a basic bundle selling for $29.99 and the “mega” bundle for $49.99 (both one off payments). No need for a prompt engineer.
Big organizations may have their own permanent prompt engineers but small businesses can buy a cheap “prompt bundle” that has proven to be accurate and effective. Either way, prompt is the future.