IBL News | New York
The surprisingly intelligent bot ChatGPT — released to the public as a free tool by a Microsoft-backed research laboratory in November 2021 — and other upcoming AI systems can leave many well-paid workers vulnerable, making many jobs obsolete in industries such as finance, health care, higher-ed, graphic design, software, and publishing.
These are some sectors at risk of being supplemented by AI, according to several experts quoted by The New York Post.
ChatGPT — currently banned in NYC schools — would work well at the middle or high school level. In higher education, AI could teach without oversight. At the Ph.D. level, AI would struggle, for now, to create an independent thesis on an area not studied yet.
Wall Street could see many jobs axed in coming years, especially in the trading and investment bank sides. Currently, many people are hired out of college and spend two, or three years to work doing Excel modeling, a job that AI does much faster.
Website designers and engineers responsible for simple coding are at risk of being made obsolete within a few years since AI can draft the software hand-tailored to a user’s requests and parameters.
AI technology is already highly qualified for copy editing, including summarizing, making an article concise, and composing headlines. For now, the tool is showing a complete inability to fact-check efficiently and write a story with proper citations.
OpenAI‘s DALL-E, which can generate tailored images from user-generated prompts, along with Craiyon, Stable Diffusion, and Midjourney, pose a threat to many in the graphic and creative design industries.
Copyright issues are also being generated by image-based AI. Getty Images recently announced legal action against Stability AI — Stable Diffusion’s parent company — claiming that the program “unlawfully copied and processed millions of images protected by copyright.”
A recent article in Forbes, said, “Professions that will be disrupted by generative AI include marketing, copywriting, illustration and design, sales, customer support, software coding, video editing, film-making, 3D modeling, architecture, engineering, gaming, music production, legal contracts, and even scientific research.”
“Software applications will soon emerge that will make it easy and intuitive for anyone to use generative AI for those fields and more.”
“Other industries ripe for disruption by generative AI may not immediately seem obvious. It may be used in the finance sector to make recommendations and manage risk. It can help the healthcare sector with diagnoses and predictive medicine. The advertising industry can use generative AI not only for creative work, but also in customer targeting. Biopharma can use generative AI to search medical literature, finding novel ways of using existing medicines off-label, and discovering new compounds to treat disease.”
“Without hyperbole, this may be a technology inflection point like the world has never seen before.”
“Tectonic as these changes are, you should expect to see massive disruption in 2023, 2024, and 2025. This is happening now.”
• Insider: From financial planning to dealmaking, here’s how ChatGPT could impact jobs across Wall Street