Investing To Win

Host: Garret Wong

Episode 37: A Debate on the Ethics of AI

Release Date: November 14 2023

Duration: 19:45 min

Episode Overview

In this episode, Garret Wong discusses the role of Artificial Intelligence in various sectors, emphasizing the ethical considerations associated with its use. From business and real estate to education and research, AI's influence is expanding, and understanding its impact is more important than ever. Garret navigates through these topics, highlighting the need for ethical awareness in AI utilization.

Key Topics Discussed

- AI in Business and Real Estate

Utilizing AI tools like ChatGPT in business workflows

AI's role in analyzing real estate market conditions

- AI in Education and Research

The contribution of AI in learning and research

Experiences from Garret's children in IT and nursing studies

- Advancements in AI Technology

Recent updates in AI platforms, including features for image processing and data analysis

- Ethical Considerations in AI

The impact on learning and development, especially for young students

The risk of over-reliance on technology in education and research

- The Issue of Bias in AI

Addressing potential biases in AI systems

The need for diverse development teams to reduce bias

- Need for Regulation in AI

Discussing the regulation of AI development

The push for inclusive design and ethical guidelines

- Personal Responsibility and AI Awareness

Encouraging responsible AI usage

The importance of staying informed about AI ethics and regulation

Episode Highlights

12:13 to 12:34

"And in six months twelve months eighteen months even in property management if 1 of my employees all they're using is ai to write their. And solve their property management problems in the company for our clients are is anybody going to be able to write an email on their own independently"

Resources Mentioned

Check Episode 36 with Carrie Soave | The Future of AI in Real Estate: Should You Jump On Board?

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We welcome your thoughts and experiences on AI ethics and its social impact.

Share with us by leaving a comment or sending an email to [email protected]

"The Future of AI in Real Estate: Should You Jump On Board?" is a captivating podcast with our A.I expert Carrie Soave, the podcast delves into the fascinating world of artificial intelligence and its profound implications for the real estate industry. Join us as we explore the cutting-edge technologies and innovative applications reshaping the way we buy, sell, and invest in property. From predictive analytics to discover how AI is revolutionizing every aspect of the real estate landscape. Tune in to make informed decisions about embracing AI in this ever-evolving industry. Don't miss out on this thought-provoking discussion that will leave you pondering the question: Should you jump on board the AI revolution in real estate?

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Growing Wealthy Minds: Empowering Kids with Financial Education is the new Investing To Win episode with our special guest: Maya Corbic. This podcast is dedicated to equipping children with the knowledge and tools they need to build a solid financial foundation. Join us as we explore various concepts of money management, budgeting, saving, and investing in a fun and engaging way. Our expert guest and insightful discussions aim to cultivate a generation of financially literate individuals who can confidently navigate the world of finance and create a prosperous future.

Tune in to "Growing Wealthy Minds" and start empowering your kids with essential financial skills today!

Want to know more about finances for your kids? Go visit Maya's academy: www.teachkidsmoney.club

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Are you excited to go to work tomorrow? Or do you dread it? Are you constantly questioning if you are in the right career? Or on the right path?

In this solo episode of Investing to WIN, Garret Wong explores a very popular Ted Talk and book by Simon Sinek: "Find Your Why"

Garret goes into his personal Why, and how this concept has shaped his companies, and also provided focus for many of his employees. Join Garret in an introduction to this concept, the steps the book takes to empower one on a journey from "Why" to Personal Discovery. And how to embrace your "Why" and use it to not only improve yourself, but for those around you. Share it, live by it, and let it resonate with others!

Resources:

Garret Wong

Simon Sinek

Are you happy at work? Or do you own a company and wonder if you're employees are happy at work? Does the business excite them enough so that money really isn't the driving factor?

In today's episode of Investing to WIN, Jordan Muela, owner of multiple businesses in the Real Estate space, joins Garret for an insightful discussion of having a Team, what that truly means and how to get the best out of your staff.

They delve into topics of Emotional Compensation vs Financial Compensation and what it takes at a Leadership Level to lead by example and inspiration.

Enjoy!

Resources:

Garret Wong

Jordan Muela

Have you ever purchased a property and someone suggested you should get a Property Inspection? And did you wonder if it was worth it, or what a Property Inspection can really show you?

In today's episode of Investing to Win, Garret Wong speaks with Rene Rheault, owner of A Buyer's Choice franchise in Winnipeg, Manitoba.

Rene goes into detail about what they look at during an inspection, what is typically missed and the industry as a whole, including licensing and education.

Join Garret and Rene for an interesting discussion about real estate inspections, what to look for and more!

Enjoy!

Resources:

Garret Wong

A Buyer's Choice Home Inspections

Book an Inspection with Rene Rheault's company

Have you been thinking about your own Secondary Suite project?

In this solo episode, Garret Wong introduces the audience to his newest acquisition and project plans for a Secondary Suite. Given this is the first time Garret has tried to develop this type of project, he takes the audience through the permit process and gives some advice in order to speed up the process.

What You'll Learn in this Show:

• The factors that influenced Garret to convert this single family home into a Secondary Suite
• The difference between a Development Permit and a Building Permit
• The square footage restrictions by the City of Winnipeg with respect to Secondary Suites
• Different strategies to comply with the City of Winnipeg restrictions

Are you interested in the transformative power of 3D concrete printing, a technology that is revolutionizing the construction industry by enhancing efficiency and sustainability and enabling innovative architectural designs? Discover how Gardon Construction is pioneering this groundbreaking transformation!

In today's episode of Investing to Win, Garret Wong talks with Jeff Olafson, Founder and CEO at NeoADMC 3D. Jeff has had a remarkable career spanning over 32 years in the commercial construction industry.

He provides a comprehensive glimpse into Gardon Construction's flexible and diversified approach to construction projects, highlighting the company's ability to adapt and thrive over two generations, especially during the challenges posed by the COVID-19 pandemic. He attributes the company's continued success to several key factors.

Jeff also delves into the exciting innovation of 3D concrete printing, also known as additive manufacturing in construction, and shows how Gardon Construction is leading the way in adopting this innovation. He goes into detail about the unique properties this technology offers in contrast to conventional construction materials, and discusses the potential elevation opportunities of this technology. He also addresses ongoing standardization efforts led by organizations such as NIST and ASTM.

Throughout the conversation, Jeff emphasizes the potential benefits of widespread use of 3D concrete printing and the driving forces behind Gardon Construction's foray into this groundbreaking technology. He candidly acknowledges the challenges associated with adopting 3D printing technology in the industry and shares the proactive steps Gardon Construction has taken to overcome these obstacles and educate consumers.

Join Garret and Jeff for this insightful dialog about the remarkable world of 3D concrete printing.

Enjoy!

What You'll Learn in this Show:

1. A look into Gardon Construction.
2. The factors that allowed them to adapt quickly and thrive.
3. The 3D concrete printing process.
4. How big of a structure can you build with 3D concrete printing?
5. The importance of thorough research on 3D concrete printing before diving in.
6. The rapid growth potential of the 3D printing industry in construction.
7. How Jeff defines success and what winning looks like to him.
8. And so much more...

Resources:

Garret Wong

Jeff Olafson | NEO.AD.MC 3D | Gardon Construction Ltd.

Ever wondered how to scale your property management business without losing your mind? Imagine turning your management company into a platform that not only manages properties but also integrates additional services. Let's dive into the secrets of this revolutionary approach!

In this episode, Garrett Wong chats with Tony LeBlanc, a property management expert from Canada. Tony shares his journey from growing up around property management to becoming a software engineer and ultimately transitioning back to property management. With his experience, he developed a unique strategy of turning his management company into a platform business, incubating and acquiring complementary services like landscaping and snow removal.

The key lesson from Tony's journey is the power of turning your property management business into a platform. By vertically integrating complementary services, you not only improve efficiency but also create new revenue streams. This approach allows you to buy back your time, increase profitability, and build a sustainable business model.

If you're intrigued by the concept of turning your property management business into a platform, listen to the full episode now to uncover the step-by-step process and insights from Tony LeBlanc.

What You'll Learn in this Show:

• How Tony's background in property management and technology influenced his unique approach.
• The importance of creating a platform business to enhance your property management services.
• Strategies for acquiring and integrating complementary services like landscaping and snow removal.
• The power of eliminating the middleman and growing your business sustainably.
• Tips for managing multiple businesses within the same ecosystem and sharing resources effectively.
• Insights into Tony's playbook for scaling property management companies with integrated services.
• Real-world examples of how Tony's strategy has transformed his business.
• And so much more!

Resources:

• Ground Floor PM
• Tony LeBlanc's Book: "The Doorpreneur: Property Management Beyond 'Door Chasing'"

In today's episode of Investing to Win, Garret Wong talks with Matthew Tringali, CEO of BetterWho and real estate investor. Matthew's journey began during the 2008 housing crisis when he pivoted to property management. He found success in that field, focusing on profitability and leveraging remote team members. After 15 years, he sold his property management business in 2022 and now focuses on consulting with other real estate professionals and companies to help them work with remote teams.

Matthew talks about the concept of virtual assistants (VAs) and his preference for the term "remote team members' (RTMs). Learn why he emphasizes shifting from a virtual assistant mindset to a remote team member approach. Fun fact: Matthew currently leads a team of 10 RTMs. He also addresses the ongoing debate about remote work productivity and discusses strategies and tools for maintaining a productive and engaged remote team.

They explore the benefits of utilizing remote team members (RTMs) instead of hiring on-site staff.

The discussion also delves into practical steps for finding remote team members (RTMs). Three key methods are highlighted: Job board platforms, the staffing agency model, and direct hire. The benefits of direct hire are explained in more detail. Matthew explains the customized approach his company takes to placing remote team members (RTMs) for clients. Of the approximately 3500 monthly RTM applications worldwide, less than 1% successfully pass his company's rigorous screening process.

From his experience, Matthew offers three key pieces of advice for companies considering hiring their first remote team member.

Join Garret and Matthew in this insightful conversation about embracing Remote Team Members. 

Enjoy!

What You'll Learn in this Show:

• Matthew’s transition from property management to consulting
• How Matthew became interested in remote work. 
• How to maintain productivity in a remote work environment. 
• Why remote hires often result in higher-quality candidates. 
• Their process of recruiting and vetting remote hire candidates.
• The benefits of seeking direct employment versus staffing agencies for RTMs.
• How to achieve faster results in business. 
• How Matthew defines success and what winning looks like to him.
• And so much more...

Resources:

Garret Wong

Matthew Tringali  LinkedIn

Betterwho