OpenAI’s ChatGPT was released in November last year. It has been used to create cover letters, create books for children, and even cheat students on essays.
We may not have realized the chatbot’s potential power. Google discovered that the search engine could hire the bot to be an entry-level programmer if it interviewed for the job.
Amazon employees tested ChatGPT and said that it does a good job answering customer support questions, makes great training documents, and can answer queries about corporate strategy.
ChatGPT users also discovered that ChatGPT can create misinformation and incorrectly solve coding problems. however, can produce errors in basic mathematics.
A 2013 University of Oxford study showed that AI could eliminate 47% of US jobs over the next 20-years. However, this prediction seems to be wrong.
Anu Madgavkar is a McKinsey Global Institute partner. She explained that this is because humans still need to apply human judgment to these technologies in order to avoid bias and error.
Madgavkar stated that these items should be considered as productivity-enhancing tools and not complete replacements. Experts did research to create a list of high-risk jobs for AI replacement.
Computer programming and Coding are highly sought-after skills. However, it is possible that ChatGPT or similar AI tools will fill in some of these gaps in the near future.
Madgavkar stated that tech jobs like web developers, software programmers, coders and coders are “pretty open” to AI technologies, “displacing more their work.”
ChatGPT, an AI program that crunches numbers with relative accuracy, is the reason.
ChatGPT, an advanced technology like ChatGPT, could actually produce code faster than humans. This means work can be done with fewer workers, Mark Muro, a Brookings Institute senior fellow who has studied AI’s impact upon the American workforce, explained to Insider.
He said, “What took a group of software developers might only have taken some of them.”
Companies like ChatGPT maker’s OpenAI are already looking at AI to replace their software engineers.
Oded Neter, a Columbia Business School professor thinks that AI will be able to help coders, rather than replace them.
Netzer stated that he believes it is a more effective way to create jobs than replace them all. Programming and code are good examples of this. It can actually write code very well.
ChatGPT and other forms of AI could have an impact on media jobs all across the board, Madgavkar stated. She explained that AI can read, write and understand text-based data.
Madgavkar stated that “Analyzing large amounts of language-based data and information is an ability that you would expect generative AI technologies will ramp up on.”
Paul Krugman, an economist, stated in a New York Times op-ed ChatGPT might be able “more efficiently than humans” to perform tasks such as writing and reporting.
AI-generated content is being explored by the media industry. Tech news website CNET used an AI program similar to ChatGPT for dozens of articles. The publisher has had to correct a few errors and BuzzFeed said it would use the ChatGPT maker’s tech to create new content.
Madgavkar however stated that most of the work done by content creators cannot be automated.
She said, “There’s a lot of human judgement that goes into each occupation.”
Paralegals and legal assistants, like media professionals, are responsible for large amounts of information consumption, synthesizing it, and then making it digestible in a legal brief, or opinion.
Madgavkar stated that language-oriented roles such as these are vulnerable to automation.
She said that the data was structured and language-oriented so it is very generative AI-friendly.
AI will not fully automate these tasks, however. It requires some human judgment to be able understand the needs of clients or employers.
Madgavkar stated that it almost feels like a productivity boost for some of these occupations, as you can use better tools.
Muro stated that AI is capable of analyzing data and forecasting outcomes. AI-driven changes may make market researchers more susceptible, Muro said.
Market research analysts are responsible to collect data and identify trends in that data. Then they use what they find to create a marketing campaign or place advertising.
Muro stated, “Those are the things we’re now seeing that AI can handle.”
Teachers all over the country are concerned about students using ChatGPT for cheating on homework. However, Pengcheng Shi (an associate dean in Rochester Institute of Technology’s department of computing information sciences) says they should also think about their job security.
ChatGPT “can easily give classes already,” Shi said to the New York Post.
He said that although the ChatGPT has some bugs and inaccuracies regarding knowledge, it can still be improved. “Basically, all you need to do is train the ChatGPT.”
According to Muro, a researcher at The Brookings Institute Muro said that AI can affect financial analysts, personal advisors and other financial jobs that involve manipulating large amounts of numerical data.
Muro stated that AI can spot trends in the market and highlight which investments are performing better or worse. He then communicates all this data to financial companies, who can use it to predict a better mix of investments.
He said that although these analysts are well-paid, some of their jobs can be automated.
Shi, also from Rochester Institute of Technology, told the New York Post about possible Wall Street roles.
“At an Investment Bank, people are hired from college and spend two, or three years to work as robots and do Excel modeling — it is possible to get AI to do this,” he stated . Photo courtesy Nguyen
Three professors pointed out DALL–E as an AI tool that generates images in seconds in a December Harvard Business Review article.
They wrote that “upskilling millions in their ability create and manipulate images” will have a profound effect on the economy.
“Technology is not putting everybody out of a work,” Brett Caraway, associate professor at the Institute of Communication, Culture, Information and Technology, stated on Global News Radio 640 Toronto .
Caraway said that intellectual labor could be endangered in particular.
He said, “This could include lawyers or accountants.” It is a new concept, and it will be interesting for us to see how disruptive and painful this is for employment and politics.
Most likely, you’ve already had the experience of calling customer service or chatting with them. A robot answering their questions. ChatGPT and other related technologies may continue this trend.
Gartner, a tech research company, predicted that chatbots would be the primary customer service channel for approximately 25% of businesses by 2027.