AI ChatGPT is helping CEOs think. Will it take your job too?

The ChatGPT AI text generator, released to the public late last year, is so sophisticated that it has already demonstrated its ability to write coherent essaysgenerate strong legal documents and interact with humans in a compellingly conversational way.

One CEO even treats parent company OpenAI’s tool like a permanently available member of his executive team.

“I ask ChatGPT to figure out where my biases and blind spots may be, and the answers it gives are a very, very good starting point for verifying their thinking,” said Jeff Maggioncalda, CEO of the chat provider. Coursera online courses, to CBS MoneyWatch.

He said the tool helps him to be more thoughtful in his approach to business challenges, as well as to see issues from points of view different from his own. For example, last week at the World Economic Forum meeting in Davos, Switzerland, Maggioncalda entered the following message: “What should I consider when addressing prime ministers in Davos?”

Another useful input for business leaders would be: “What should I consider when I am restructuring my company?” Maggioncalda said.

Maggioncalda is far from alone in his admiration for the popular tool. Nearly 30% of US professionals say they have already used AI in their work, and industry experts have called it a game-changing creation with wide-ranging implications for businesses and jobs. Some have compared it to innovations like the calculator, which changed the way people think, act, and teach.

“Where these things really matter is whether it increases the value of human experience or mostly replaces it,” MIT professor of labor economics David Autor told CBS MoneyWatch.

No more first drafts

Bots will devalue clerical and administrative skills, according to Autor. Chatbots are also proficient in generating HR letters, boilerplate text, and some copywriting.

“Those things will be easier to do. That kind of semi-skilled work will be automated,” she said.

That’s bad news for junior and mid-level workers. “The jobs that are most likely to be displaced [involve] mundane tasks like writing a basic copy or the first draft of a legal document. Those are expert skills, and there is no doubt that the software will make them cheap and therefore devalue human labor,” said Autor.

Mihir Shukla, CEO and founder of robotic automation and artificial intelligence company Automation Anywhere, predicted in Davos that “15-70% of all the work we do in front of the computer could be automated.”

What remains to be seen is what kind of new jobs the emerging forms of AI will create. Because while ChatGPT is new, it’s just the latest example of the storied cycle of technological innovation, from the printing press and the loom to the smartphone and robotics, dooming certain lines of work and opening up new ones.

“With this we are going to produce new goods and services that create value and new opportunities, and that is much more difficult to forecast,” said Autor.

Another member of the executive team.

Coursera’s Maggioncalda said he relies on ChatGPT as a writing assistant and, more substantially, a thought partner.

“If you give him a lot of text, he can summarize it nicely, put it in bullet points or in different languages,” he said.

He treats ChatGPT like another member of his executive team “who wears different masks and speaks different voices from different perspectives.”

“To a large extent, Chat GPT is like another person you’re also exchanging ideas with. It’s another point of view and it’s there all the time,” added Maggioncalda.

However, outsourcing this type of work to chatbots is not necessarily a job killer. Instead, in theory, it should free up human workers to focus on more thoughtful and ideally profitable work.

For now, AI has not replaced humans in Maggioncalda. “If I could get my executive team to look at my blind posts and think, I would definitely have them there instead of ChatGPT,” he said.

“The world will never be the same”

Columbia Business School professor Oded Netzer, an expert in text mining techniques, said he instantly recognized ChatGPT as a revolutionary breakthrough in artificial intelligence.

“It’s really an amazing leap in technology and innovation,” he told CBS MoneyWatch. “From what we’ve seen, it was one of those very rare moments in technology and innovation, where you experience it and say, ‘The world will never be the same again.'”

Enter a message, such as “What jobs will ChatGPT take?” and ChatGPT spits out the following response:

ChatGPT is a language model that can be used for a wide range of natural language processing tasks, such as text generation, language translation, summarization, and more. It can be used in industries like customer service, marketing, and content creation. However, it is important to note that ChatGPT is a tool and it will not take any work, it will help improve existing works and automate certain tasks.

Chatbots have already taken over online customer service functions, and next month, for the first time, a An AI-powered “robot” lawyer will represent a defendant In the court. ChatGPT threatens to replace humans when it comes to tasks that are simple to execute, such as following a script or preparing a standard legal document: think an apartment lease, someone’s will, or a nondisclosure agreement, depending on the standards. experts.

Nearly 30% of professionals in the US say they have already used ChatGPT or other AI tools for a work-related task, according to a recent survey of 4,500 employees by Fishbowl, a company-owned social network. professional services firm Glassdoor. Marketing and advertising workers had the highest adoption rate, with 37% saying they had used AI, while 35% and 30% of technology and consulting workers, respectively, also reported using AI.

Netzer said that while ChatGPT will usher in a sea change, in most cases, it won’t replace workers, but rather improve their ability to do their jobs efficiently.

“It’s mainly an enhancer rather than a complete job replacement,” he said.

supercharged work

For example, ChatGPT is adept at helping programmers autocomplete and identify errors in their computer code.

“To the extent that we need fewer programmers, maybe it will take jobs away from us. But it would help those who programmer find bugs in code and write code more efficiently,” Netzer said.

The same is true of many jobs that require basic writing skills, he said.

“In terms of jobs that require writing, I think of it as a starting point rather than replacing us completely. I think it’s a great tool to enter a notice, see what you type, and then add a human touch,” he added.

For example, ChatGPT could easily be used to generate an email to schedule a meeting.

“Emails that are simple correspondence, these are the types of tasks that I can easily see the machine doing very well. The less creative you need to be, the more you need to replace,” Netzer said. “Why not have them help us send emails to set up meetings when there’s hardly any creativity involved?”

Of course, this variety of automation already exists in rudimentary form; for example, Google email and chat suggest responses in text conversations.

“Mass Consequences”

Renowned economist and MIT Fellow Paul Kedrosky believes that ChatGPT will have a profound impact across a wide range of industries and functions.

It has “massive consequences for a whole host of different activities…pretty much any domain where there’s a grammar, an organized way of expressing yourself,” he said in a recent podcast. “That could be software engineering, it could be high school essays, it could be legal documents, where this voracious beast easily eats them up and spits them out again.”

The software giants are taking notice. Microsoft announced Monday that it is making a “multi-year, multi-million dollar investment” at the artificial intelligence startup OpenAI, creator of ChatGPT and other tools that can write readable text and generate new images.

What ChatGPT cannot yet do, and may never be able to do, many experts think, are tasks that require many gradations of human judgment applied to a variety of problems and other cognitive challenges. Take, for example, a graph or table showing the metrics of an underperforming company. ChatGPT could summarize the data and tell the user what the graph shows. What it cannot do, yet, is explain why the data is significant.

“When I ask ChatGPT what they think is going on with this company, they do what junior executives would do, which is, they tell me what they see in a table. They say that this parameter went down and this one went up in a very consistent way. But it doesn’t go beyond that to the ‘so what?'” Columbia’s Netzer said. “These are the kinds of tasks that require judgment and where humans are still very valuable.”

Leave a Reply

Your email address will not be published. Required fields are marked *