The Blubber

Per Business Insider

OpenAI and University of Pennsylvania researchers conducted a survey and found the group ChatGPT could most impact. They highlighted that this could be college graduates working in tech earning up to $80,000 annually.

The researchers were studying how GPT-4 would affect the American workforce by discovering which jobs were more exposed. The study also gave a specific definition of what it calls "exposed."

Exposed definition: "Economic impact without distinguishing between labor-augmenting or labor-displacing effects."

The researchers conducted their study with data from the US Department of Labor and found the following.

• 80% of the US labor force could see at least 10% of work tasks affected
• 19% of workers could see 50% of tasks impacted

It was also found that compared to lower wage earners, higher wage earners were exposed to more risk from the development of artificial intelligence. It was found that manufacturing, agriculture, and mining jobs were the least exposed.

The most exposed jobs were within the information processing industries, like IT. The reason why those jobs were most exposed was due to programming and writing skills, which is the specialty of ChatGPT.

"As capabilities continue to evolve, the impact of GPTs on the economy will likely persist and increase, posing challenges for policymakers in predicting and regulating their trajectory,"

Recently, Microsoft co-founder Bill Gates has responded to the open letter of Elon Musk and other AI researchers that called for a pause on AI development. Per Gates, a pause in development is not the solution.

It was also found that a portfolio generated by ChatGPT could outperform random ones. However, managers made the distinction that AI was not a "prophet" but rather a co-pilot for those without asset management knowledge.

The test found that ChatGPT was able to find abstract relationships between assets.

See flow at unusualwhales.com/flow.

Other News:

• Bill Gates says Elon Musk's and researcher's call to pause AI development won't 'solve the challenges'
• ChatGPT's portfolio outperformed random ones, with managers saying the AI is a co-pilot' not a 'prophet'

Resources:

Business Insider