The Impact of AI on Pharmacists | Tim Ulbrich, PharmD, Your Financial Pharmacist

Tim Ulbrich, CEO of Your Financial Pharmacist and host Mike Koelzer discuss the impact of technology on the pharmacy profession, financial wellness for pharmacists, and the future of education, and how it may be disrupted by the rise of technology and alternative education options.

Show Notes:

• Introduction: Tim Ulbrich, CEO and co-founder of Your Financial Pharmacist, joins host Mike Koelzer to discuss the impact of technology, specifically ChatGPT-3, on the pharmacy profession and financial wellness for pharmacists.
• The Emotional Side of Financial Planning: The podcast delves into the emotional aspects of financial planning, which has become increasingly important in today's world.
• The Over-Glorification of Entrepreneurship: Tim mentions that not everyone is cut out for entrepreneurship and that there are times when a steady job can be more peaceful. Mike wonders if his pharmacy niche is too narrow but acknowledges his expertise in the field.
• Finding a Target Audience and Niche: Tim and Mike discuss the importance of defining a target audience and finding a niche when starting a business. They agree that a narrow target audience allows for better segmentation and customization.
• The Impact of Technology on Education: Tim and Mike discuss the impact of chatbots like ChatGPT on education and various industries. They believe that the technology could shift the focus from learning things to asking the right questions.
• The Future of Education: Tim and Mike agree that academic institutions will have to evolve and adapt to changes. Tim suggests a network-based apprenticeship model, while Mike points out the need for new ways of measuring skills and achievement.
• Social Media and Technology's Impact on Professionals: Tim and Mike discuss the impact of social media and technology on professions, including the value of a college education. They acknowledge that changes may occur in the long run, but that the resistance of established organizations may slow down the process.

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