Samer,
Thanks for the Post!
You don't want to get me started on this topic. As a AI Marketing Economist, I am too close to these trends.
It's the ChatGPT-3 API application tools that are currently having the biggest impact.
When I was in college I worked for the Small Business Development as a consultant and had the opportunity to work on about 100 projects especially business plans. For the fun of it last week, I created a flower shop's three year business plan including financials in 10 seconds. Of course if I was helping a client, modifications at Intermediate to Expert level would have been needed. However, it completely removed entry level work and saved hours of my time compared to the old days.
Recent headline news on ChatGPT:
- Makes B grade on Wharton MBA exam
- Passes state medical exam
- Passes several parts of state law exam
- Codes new website
From a labor economic worldview, there are many implications.
Assume a company employs 100 writers and with the new API application tools now only needs 20 writers to get the job completed. 80 writers become unemployed seeking jobs throughout the Net. Now there is less of a need for writers from the Corporations and there is a flood of new competition. This is one of dozens of examples that will begin to play out in 2023 going forward.
BOTTOMLINE - Increase your SKILL SET and go to Expert level on many disciplines ASAP.
Microsoft bought 49% of OpenAI the owner of ChatGPT and the Microsoft is sharp enough to use the Azure cloud and the Microsoft Suite to push these new tools out quickly and corporations will have their employees using them soon.
I am open for discussion and no trying to shoot the Expert messager 🙂
