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How ChatGPT changed business in its first year

ohog5 by ohog5
December 12, 2023
in Business
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How ChatGPT changed business in its first year
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Arati Prabhakar, the director of the White Home Workplace of Science and Expertise Coverage, spoke at Fortune’s Brainstorm AI convention on Monday. Duy Ho for Fortune

Good morning.

What a distinction a 12 months makes. Finally 12 months’s Brainstorm AI convention, ChatGPT had simply been launched, and the chances of utilizing it in enterprise have been largely theoretical. This 12 months, the convention is stuffed with executives from varied industries who’re utilizing generative AI with beautiful outcomes. Judging from feedback right here, it’s already reworking banking, investing, job search, drug improvement, retail, and extra. It’s additionally offering new superpowers to scammers, elevating gnarly questions round copyright and mental property, and struggling nonetheless from a disturbing tendency to “hallucinate.” It’s altering the world—however not all the time for the higher.

Some excerpts:

“We’ve been growing and deploying AI functions for ten years. However I feel all of us, over the past 12 months, have seen an enormous inflection level with the rise of generative AI capabilities.”

—Madhav Thattai, Chief Working Officer, Salesforce AI


“We’ve handled highly effective applied sciences, and the great and the in poor health ways in which folks have used them, all through the historical past of human beings. What’s exceptionally completely different about this know-how is its breadth.”

—Arati Prabhakar, Director of the President’s Workplace of Science and Expertise Coverage

“Embracing AI as an organization is crucial. All people on this room, there may be not part of your corporation (that received’t be affected). It’s so pervasive. AI goes for use on your product improvement. It’s going to jot down code, write the check parameters, check the code. Its going for use in your operations to turn into extra environment friendly. And will probably be embedded in your merchandise and repair. If there isn’t a holistic adoption of AI all through the group, you’re actually placing your self at an obstacle.”

—Jim Cathey, Chief Business Officer, Qualcomm

“Discover your early wins after which let these early staff evangelize about how their time went quicker when AI took away the toil work. We discovered it was 30% extra free time for these IT specialist. They didn’t go away. We put them on extra strategic work.”

—Kyle Daigle, Chief Working Officer, Github

“It’s priceless for a trainer to do issues like lesson planning, grading papers, studying progrèss reviews. And the extra we’ve labored on it, we realized it may do issues that even transcend what a standard tutor can do. We’ve got simulations the place you may speak to Eeyore the donkey, or Jay Gatsby. Simulations the place you may speak to Alexander Hamilton or Thomas Jefferson. We simply launched final week an utility the place it received’t write your essay for you, however you may get suggestions in your essays.”

—Sal Kahn, founder, Kahn Academy, talking concerning the Kahnmigo digital tutor

“You can also make it hallucinate much less with onerous work, high-quality tuning.” 

—Sissie Hsiao, Vice President and Basic Supervisor, Google Assistant and Bard

“Our huge hope is we will do for most cancers what we did for COVID.”

—Lidia Fonseca, Chief Digital and Expertise Officer, Pfizer

Extra from the conference here. Individually, take a look at this 12 months’s Fortune Impact 20 list, offered by TPG’s The Rise Fund, which highlights 20 startups which have constructed their enterprise fashions round world-changing work, utilizing the revenue motive to unravel social and setting issues.

Different information beneath.

Alan Murray
@alansmurray

alan.murray@fortune.com

TOP NEWS

Google monopoly

Google engaged in anticompetitive practices in its app retailer insurance policies, a jury selected Monday. Epic Video games, the developer behind the massively in style online game Fortnite, accused Google of abusing its monopoly energy to suppress the event of rival app shops to advertise its personal Play Retailer. Google plans to enchantment. Epic lost a similar lawsuit in opposition to Apple earlier this 12 months; that case was determined by a decide. The Associated Press

India vs. Hong Kong

India’s inventory market has now overtaken Hong Kong’s in worth, placing it in seventh place worldwide. The Nationwide Inventory Alternate of India had a complete worth of $3.989 trillion by the tip of November, simply forward of the Chinese language metropolis’s bourse. Hong Kong’s Cling Seng Index is the worst performing fairness index in Asia-Pacific, set for 4 straight years of declines. CNBC

Hasbro cuts

Hasbro, the corporate behind Transformers, Magic the Gathering, and Dungeons and Dragons, will lower nearly 20% of its workforce over the following 18 to 24 months. The toy firm is blaming “stronger and extra persistent” financial headwinds for the layoffs. Hasbro is reporting an 11% year-on-year drop in gross sales for the primary 9 months of the 12 months. Bloomberg

AROUND THE WATERCOOLER

Employees are weaponizing communication tools to get colleagues in trouble—and it’s a huge HR oversight by Paige McGlauflin and Joseph Abrams

Saudi Arabia dives deeper into Western assets as it looks set to become the majority owner of the U.K.’s busiest airport in a $12bn deal by Ryan Hogg

Goldman Sachs’ chief economist says the market may be getting ahead of itself on rate cuts—and decreases won’t come as soon as people hope by Eleanor Pringle

TikTok is spending $1.5 billion on a joint venture to solve the problem of Indonesia’s surprise social media shopping ban by Lionel Lim

Khan Academy’s founder says AI ‘coaches’ will soon submit essays to teachers instead of students by Alexandra Sternlicht

Economic pessimists’ bet on a 2023 recession failed. Why are they doubling down in 2024? by Philipp Carlsson-Szlezak and Paul Swartz

This version of CEO Every day was curated by Nicholas Gordon. 





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