AI tools like ChatGPT are improving and will reshape the labor market, require regulations to minimize risks, and have the potential to complement human abilities to solve grand challenges like climate change.
Artificial intelligence (AI) tools like ChatGPT are improving and becoming increasingly skilled at tasks such as developing travel itineraries, creating business plans, and writing marketing copy. These large-scale language models are trained on vast amounts of human writing, making them proficient in sounding human and predicting which words are likely to occur next based on calculated word distributions. The impact of AI on the labor market is likely to be significant, with knowledge workers such as lawyers, accountants, journalists, and interpreters most affected. However, there is no job that is safe from AI in the long term. While human-AI partnerships appear to be in our future, there are risks to society, and guardrails or regulations will be needed to minimize them. Firms should conduct audits on their internal data before using it to train AI systems, and dedicate time to understanding how the technology could fit into their operations. Overall, AI has the potential to complement human abilities and help solve grand challenges like climate change.