I thought I would start this article with a tongue-twistingly odd statement: GPT is not just ChatGPT, and ChatGPT is not AI… yet AI is a GPT. Hopefully, by the end of this piece, this peculiar statement will tie in with the title and its importance will be clearer.
While it’s very interesting and enjoyable working with clients in the AI space, it’s even more interesting to observe the level of confusion and misinformation around artificial intelligence (AI). Some people I talk with see ChatGPT and AI as being synonyms, unaware of the other players in their field, let alone each AI’s model's strengths and weaknesses.
Such confusion is understandable, especially given that generative AI technology was largely unknown less than two years ago. AI has effectively been dropped on the public & business community's lap without prior warning, training, or awareness. This situation is only made worse by traditional media and social media players, who one can assume based on their often superficial questioning are clearly also grappling with the topic.
Admittedly, the word salad in my opening statement doesn’t help, but I think it’s an important topic to break apart and discuss from a business perspective.
To set the scene: ChatGPT’s reference to “GPT” stands for “Generative Pre trained Transformers.” ChatGPT is a pre-trained AI system that takes your inputs (prompts, questions, etc.) and transforms them into generated outputs (answers, content, etc.).
In a broader sense, GPT also refers to the term “General Purpose Technologies,” which are transformative innovations throughout human history, such as electricity and the internet. These technologies drive growth, spur innovation, and lead to social change across the globe. Historical examples of General-Purpose Technologies include humanities mastery of fire, the wheel, the printing press, the steam engine, and various modes of transportation like trains, planes, and automobiles—all of which have had profound impacts on family structures, where we live, the way we work, and our understanding of the world, and of course human prosperity. It’s important to note, that these transformations did not come without issue along the way, transformation isn’t always a smooth process.
The internet, for example, spurred new ways of working (such as working from home), improved communication and connectivity over great distances, and enabled near-real-time information exchange and global commerce. Similarly, electricity powered the industrial revolution, leading to electric devices, machinery, and now electric vehicles.
It’s clear that electricity, the internet, and now AI will combine to spur new innovations and developments both locally and globally. For this reason, it’s appropriate to refer to the current period as the beginning of the 4th Industrial Revolution.
AI will likely assist in addressing aspects of current challenges such as global warming, population decline, and resource scarcity. However, it’s critical that AI’s potential negative impacts—such as unemployment, increased inequality, and digital isolation—are actively addressed by our businesses, communities, and governments.
As has been said, “It’s never been this fast, and it will never be this slow again”. AI will assist in its own rapid evolution, as well as in the rapid development of quantum computing, healthcare, genetic engineering, and robotics.
AI is already resulting in significant advancements in the realm of robotics. To convey this current reality, I thought you might enjoy the attached videos / which give us an insight into this rapidly evolving field.
This week, Tesla held its “We Robot” event. Interestingly, it’s been claimed that some of the robots were not fully autonomous— that they were assisted by humans. This is a cautionary reminder not to trust everything said online or in the media regarding AI’s capabilities.
One thing is sure, however: AI is a General-Purpose Technology, and it is rapidly evolving. Business owners and directors need to appreciate where we are currently at with AI and where it’s heading, as this will affect business strategy and boards' fiduciary duties, notably their ability to assess business opportunities and risks.
In addition to Tesla’s “We Robot” event last week, more significantly, four leaders in the world of AI received Nobel Prizes under the banners of Physics and Chemistry, once again highlighting the rate of progress and the level of innovation in the field. Geoffrey Hinton, John Hopfield, Demis Hassabis, and John Jumper have all contributed significantly to advancing AI's capabilities.
As I mentioned in my previous article, I am a big believer in AI driving business and social benefits, but we need to be pragmatic, aware, and constantly questioning big tech narratives to understand the truth as best we can in these rapidly changing times. Misinformation and confusion abound. It’s up to us to educate ourselves and drive positive AI outcomes across our businesses and communities.
There should be no doubt AI is a General-Purpose Technology which will have a significant effect on business and the larger economy.
If you wish to discuss AI’s upside in a business context, train your teams, or explore the opportunities and challenges ahead, please reach out: michael@advisorai.com.au