AI is actually reading minds. Wild. So that's one of the things that we're going to talk about today on Everyday. AI. Your daily stream podcast and newsletter that helps everyday people like you and me understand leverage and actually use AI to help you grow your career and even your personal life. So we have a lot of things to get to today in today's show. But first, just wanted to introduce Derek, the founder of Team Sobico.
Derek Sobieraj [00:00:39]:
Jordan Wilson [00:00:40]:
Derek. How's it going?
Derek Sobieraj [00:00:41]:
Hey, Jordan, it is going well. I'm glad to be joined here this morning. I'm excited to get into this, especially because AI is reading minds. And as a former magician, AI is coming from magic too.
AI Can Read Minds
Jordan Wilson [00:00:53]:
Oh, man, didn't even think about that. All right, so let's quickly go over some of the top AI news and then we'll get a little bit more into Derek's story and how he's using AI for his company. So let's talk about that first one. I swear, science fiction from 80s movies, but it's getting closer to reality. So this is a recent University of Texas study showed that a decoder essentially was able to transcribe content of silent videos while in a scanner. So it's essentially, in theory, able to translate someone's brain activity into plain readable language. Derek, this is brick like fresh news. What are your thoughts on what this means?
Derek Sobieraj [00:01:46]:
Well, I think it's going to be a rather interesting thing. One, because it sounds like this is being done in kind of like a medical setting. So think of all the people who might have issues with communicating because they might be in a coma, et cetera. Like being able to help decipher kind of what's going on without physical communication. Insane, right? I'm sure that maybe there's some way that this is going to help just break down communication barriers between different languages. What about communication barriers between different species? Will we know what dolphins are saying? Who knows, man, imagine talking to your dog.
Jordan Wilson [00:02:26]:
A great conversation for another day. But again, we're going to have more information on this on the newsletter. So make sure to sign up for that your Everydayai.com. Check that out. Kind of. Our second piece of news here is Mid Journey has some big updates. So maybe not all of you are Mid Journey users. Let me just kind of tell you what it is real quick and what these updates mean. So you've probably all heard of Chat GPT. The parent company of Chat GPT is OpenAI. They have their own imaging model that allows you to type in text and get some amazing images called DALL-E.
So DALL-E is probably the biggest competitor and it's probably more popular. It's called mid journey. It's a private company, so they do the same thing. You can type in any text prompt and get some amazing images. So their new updates today, it's called Mid Journey 5.1. It's designed to let beginners. Like you and I, I've used Mid Journey for months, but I don't use it often, but it allows you to get better results with simpler prompts. Also, there's a new moderation system. Everything on AI is moderated because if not, things could go wild. But instead of just blocking words, it uses context. So maybe you do have a correct use case for this technology and instead of just blocking it, it's just going to use the context to see if it should be blocked. Derek, I know you said you've kind of played around with this, but what are your thoughts?
Derek Sobieraj [00:03:52]:
Well, generally when I've used the image AIs, it's been on the marketing standpoint. So like for example, generating thumbnails. And my experience is that the images generated pretty much suck. And we all know how important thumbnails are in attracting attention. So if we're able to be given tools that we're able to generate custom, engaging marketing materials, visually, it's going to continue evolving this entire landscape.
An Example of Midjourney in Action
Jordan Wilson [00:04:16]:
Exactly. And actually right before we jumped on let's see if I can share it quick. So if you're listening on the podcast, make sure to check this out on our website your everydayai.com. We just did a quick one here. So again, if you're watching this on a stream, you can probably see my screen right now. Derek just gave me a simple prompt, we put it in there and we got some pretty cool looking stuff here. So, yeah, make sure if you haven't already check out Mid Journey and follow along. We'll also be talking about this as we go along on the show.
Last but not least, because I really want to get into a little bit more of what you're doing, derek, the last big thing is Chat GPT with some new updates, a lot actually, and in the Chat GPT world. But essentially there's some new news. Italy has reversed its ban. Originally they banned GPT, now they are not banning it. Samsung and JPMorgan and other big companies are now restricting its use due to compliance and privacy concerns. In a great segue into your world now, Derek, some new Chat GPT plugins are being released. A couple of highlights are Zillow and Redfin. And again, if you don't know Chat GPT plugins, it's probably because most of us do not have access. Probably 0.1% of users are actually getting access to these.
Sobeco - Real Estate Brokerage and AI
So actually it's a great transition, Derek, to your company. So just give us a brief overview of kind of who you are and what you do because it's in real estate.
Derek Sobieraj [00:05:49]:
Yeah. So at a very bare minimum level, I'm a broker, I'm a managing broker as well as a licensed appraiser team. Sobeco is a licensed real estate brokerage and that's part of a larger real estate organization under the name of Sobeco. And basically what I do is I help people navigate and evaluate real estate, whether that's your first rental that you're looking for or whether you're looking to expand operations for a retail operation or looking to buy a warehouse.
We are a full service brokerage and generally what we try to do is provide a risk mitigating and practical approach that might sound very basic, but you'd be surprised how many people don't even think about just general good principles when making investment and risk decisions, especially in real estate. Everybody thinks like they watch HGTV and it's easy peasy. That's not the reality. And right now, with all these AI tools coming in and with some regulation changes that happened over the last couple of years, it has literally empowered individuals like myself to go out into the world and start a company, which usually you needed an entire team of people to do. And now as a single person, and hopefully soon expanding a little bit more than that, but right now as a single person, you're able to basically do the job of like 20 people. Yeah.
Jordan Wilson [00:07:09]:
That's amazing. And tell me a little bit about what that was like, because the company is a little newer, right? It's less than a year.
Derek Sobieraj [00:07:18]:
Correct? The company is less than a year. But I've been a practicing broker since 2016. Yeah.
Jordan Wilson [00:07:24]:
So even let's talk about that. Starting your own business. This was right kind of during the boom, I guess, of people getting on board with Chat GPT. How did you use AI just kind of in the early days of starting your company?
Derek Sobieraj [00:07:43]:
Yeah, well, here's the thing that I would say. So the motivation to start that company was always there. But when you're looking at a challenge like that, you're thinking to yourself, how am I going to do this? So one of the things that came out of this entire process is that the AI tools that exist were almost out of necessity needed in order to help a single individual be productive enough in order to take on this challenge as an individual. And to me, I'm looking at it as a way not only to put out the material that I need to put out, but also to generally maintain a lifestyle that I want to maintain while keeping I would say like I'm not exactly sure what that is, but there is something there where an individual is able to take on the responsibilities required of running entire company. Not just from a front end standpoint, but there are a lot of things that go into it, even on the back end, compliance, et cetera.
There's a lot that people don't know about entrepreneurship in terms of what happens in the background, health insurance, et cetera. Putting together workflows that help you stay efficient and get these tasks done as quickly as possible not only allows you to accomplish more, but at the end of the day, I don't need to keep working past call it six, seven, eight, or whenever my cutoff time is. I can take some time at the end of the day still enjoy the day and get back right into it tomorrow.
Using ChatGPT as Chat Agents
Jordan Wilson [00:09:13]:
Yeah, I love that. Going back to one of our three news pieces that we segued into your introduction. So even with chat GPT now integrating with some big partners like Redfin and Zillow and obviously we don't know a whole lot about what this means, but one thing we do know is this will allow people to kind of chat with different chat agents, specifically chat GPT, and access real time information about real estate. Again, we don't know a lot of details, but Derek, what does this kind of mean for the industry in general? And then how can people like yourself kind of use this information to your advantage?
Derek Sobieraj [00:10:03]:
Yeah, so this is actually really interesting. So without knowing exactly how these tools are going to be integrated, the way that I hope that or the way that my initial reaction to I hope these tools are integrated would be, for example, an agent is able to take all the specifics of a property, kind of preload that into a chat bot, so that as people are exploring real estate online, searching for it, et cetera, they can kind of start a chat with a chat. Bot and ask these specific questions of that property and get a real time answer where normally they would be kind of trying to call the agent to get those answers.
So it might help in the search process, et cetera. But there are a lot more complex issues to kind of consider, because once you're under contract, you still need to go through inspection, et cetera, advisory things, not only from your agent, but from inspectors, from lawyers, from lenders. Where the AI might not be fully comprehensive to do that, but from a top level, it should be able to help you discover property a little bit faster and maybe identify your priorities a little bit faster. So that you're not wasting your time chasing poor deals. You're chasing deals that you're actually interested in, that you have a higher degree of confidence in.
Jordan Wilson [00:11:21]:
Yeah, I love that. So it's almost having an assistant to help qualify leads or get more information out of them before they're finally talking to the real estate agent, more or less, right?
Derek Sobieraj [00:11:35]:
Potentially it could be helpful basically for both. It could help the agent scale their communication so that they're communicating with more prospects about a property and answering more questions, inquiries about that property. At the same time, it might help consumers decipher the landscape a little bit better and be able to dive into certain properties and identify issues or benefits of a property a little bit faster.
Jordan Wilson [00:11:58]:
That's a great question. Sorry, a great response because you bring up a great point that there is dual benefit, right? It can benefit someone on your side and it can also benefit the consumer who's looking. And then so maybe once the introduction does happen in real life right, because you're always going to have to be working with well, I think you're always going to have to be working with a human to finish transactions. But it sounds like a great use case for AI is just making sure when that in person introduction happens, everyone's that much closer to making a transaction happen.
Derek Sobieraj [00:12:36]:
Right? I mean, one of the things that we talked a little bit briefly prior to jumping on here, but AI currently in various fields, whether that is lending, whether that's attorneys, whether that's real estate, it can't hold a license. Like an AI can't go out there and it can't get a broker license. It can't actually do that stuff, right? So there are regulation things happening or regulation and rules that are preventing AI from basically representing you. But at the same time, I'm not sure if I would necessarily want a robot to be my representative, right? Like, I can rely on a robot to scour through a lot of data very efficiently, but I don't know if I'm going to trust its judgment just yet.
And for example, in a lot of the use cases that I do and writing reports, et cetera, marketing materials are reliant on real time data of what's happening in the economy, et cetera. And whenever I try to prompt a chat GPT type program in order to write a report, like, let's say I give it a prompt of, like, give me the real estate in Chicago of 2023, right? Like, what does that landscape look like? It's only as good as the data that it's pulling from. And I haven't seen an industry with more crap data than real estate. Basically, it's garbage in, garbage out. And if you have good agents putting in good data, you're going to get better responses. And if you have terrible inputs, you're going to get terrible responses. And many times when I get a response out of these programs, it's just not accurate to what the current landscape is. Sometimes it's a year or two behind. Like, for example, right now I was trying to write a report on, hey, what's coming down the pipeline, because there are a lot of things happening in the background of real estate in terms of lending, in terms of commercial loans coming due. And there's a lot of with all these bank failures, like, all these things are interconnected. And when I tried to write a report on that just this week, it was giving me a response as if it was, everything's fine and dandy. And that's not the case.
There are a lot of things that might cause problems, and none of those data points seem to be reflective in the actual output. So whenever I'm using these tools, because I'm a licensed broker who has to communicate accurately, I take this information in usually as a first draft. But then I'm going back in to try to add in the context, add in the relevant data and modify it to actually be valuable to today's actual consumer because you're trying to make decisions, usually financial decisions, off of this kind of information. And if you're running off of data that's incorrect, you're going to make poor, actually wrong decisions. Yeah.
How You Can Use AI to Help Start a Business
Jordan Wilson [00:15:17]:
Derek, you bring up a great point that a lot of these models, Chat GPT as an example yeah, their data is old. It's not 100% up to date. I believe the last date we saw for at least for Chat GPT is September 2021. So it's something important to keep in mind that, yes, like Derek brings up, if you want very up to date information, at least something like Chat GPT is maybe not your best bet. We'll talk about that more in future shows, but there are other options. But yeah, Derek, that's a great point. And real quick, as we are winding down on time, I would love just one quick question here for you, Derek. You are someone that has experience in your field and you did use AI to help you go from kind of employed with another company to starting your own business. So, just real quick, if you were to give listeners and viewers one or two quick pieces of advice on how you can use AI to help start a business through any successes or failures that you've had doing it, what would your response be?
Derek Sobieraj [00:16:27]:
That's a great question. If I'm to give an earnest, honest answer on this, I would say any business that you're going to start, whether it's real estate or otherwise, it's centered around the idea that you're performing repeated operations that provide value to your customers. So if you're able to dissect what that process is and be able to identify moments where you can automate or flat out hand it off to AI, you're able to then build processes that are automatic, that provide results, that provide value and allow you, as an individual to focus on other business priorities. So, for example, I'm using it in terms of marketing, in terms of automation, scheduling, and in terms of anything that I need to get away from in order to advance my business. I'm trying to think, is there a way that I can integrate an AI tool to help me accomplish this faster? It's not going to replace everything, but if I'm able to, for example, take my marketing and what used to be a 20 hours a week kind of thing and drop it down to five, all of a sudden I have 15 extra hours that I can dedicate towards another more priority task.
Outro: Win ChatGPT Premium for a Year
Jordan Wilson [00:17:37]:
That's an amazing point, Derek. Thank you again for joining us. And thank you to everyone watching, listening, reading the newsletter. Please check out your everydaya.com. Let us know what you think of the show, let us know what can help you better understand and better use AI. And please do sign up for the daily newsletter quick plug. We are giving away two premium year long licenses to chat GPT premium. There is a free version. The premium version is much better again. So go ahead, sign up for the newsletter. Derek, thank you again for joining us and everyone out there listening, watching, reading, we'll see you tomorrow and every day. Thank you, you people.