The Rise of AI: Are We Late to the Party?
In the fast-paced world of technology, it’s easy to feel like you’re already late to the party. With startups like OpenAI dominating the headlines, you might wonder if there’s still an opportunity for you to make your mark. But amidst all the noise and hype, it’s important to assess the true signal and determine if the big ships have already sailed.
Back in 1979, a Harvard business student named Dan Bricklin invented the computer spreadsheet, known as VisiCalc. This seemingly simple piece of software turned out to be the first “killer app” in personal computing, propelling the success of Apple’s Apple II. It revolutionized the way people worked, saving them time and effort. As Bricklin himself put it, “People thought I was a wunderkind, but I was using this tool.”
In recent months, we’ve witnessed another technological revolution with the release of ChatGPT, an AI-powered language model developed by OpenAI. Trained on publicly available internet material, this app reached 100 million monthly users faster than any other online application before it. And the response from users? They were amazed by its capabilities. Even experienced researchers from Microsoft, who had been working in the field of AI for years, were surprised at how close it came to replicating human intelligence.
The widespread adoption of ChatGPT, along with other generative visualization tools like Midjourney, Stable Diffusion, and Dall-E, has thrust AI into the mainstream spotlight. It has sparked a mix of fear and excitement among the general population. According to Justin Flitter, founder of NZ.AI, ChatGPT has made AI accessible to anyone with a browser, demystifying the technology and allowing people to experiment with it.
Megan Stals, a markets analyst at digital investment platform Stake, believes that these shifts are a game changer. While large companies like Google have been talking about AI for years, it’s only with tangible offerings like GPT-4 that people are truly realizing its potential. However, as Stals points out, investors need to be discerning in determining which companies are genuinely set to benefit from AI and which are simply using it as a marketing tool.
Chelsea Rapp, chair of the NZ Game Developers Association, compares the recent advances in AI to the arrival of the personal computer, the internet, or the mobile phone. She believes that AI is truly revolutionary, and those who can’t see its potential aren’t looking hard enough.
But what sets this AI hype apart from other tech trends like the Metaverse or cryptocurrencies? According to Flitter, the fundamental difference lies in the ease of use and value that AI provides. Unlike previous technologies, AI is accessible and offers immediate benefits to users. However, Rapp notes that many companies are still apprehensive about adopting AI. They want to see how it pans out before fully embracing it.
There are also concerns surrounding intellectual property rights when it comes to content generated by AI tools like Chat GPT and Midjourney. Rapp highlights the potential legal issues that arise from using copyrighted material without proper compensation. Businesses are cautious about building their operations around tools that may come with future liabilities or lawsuits.
When it comes to the impact of AI on society, the fears of massive job losses or even the eventual eradication of humans are often exaggerated. As tech commentator Benedict Evans points out, we’ve been automating work for 200 years, and each wave of automation has led to the creation of new jobs. While there may be frictional pain and dislocation during the transition, the total number of jobs doesn’t decline, and overall prosperity increases.
In previous waves of automation, humans were still necessary to operate the technology. For example, the creation of the spreadsheet didn’t replace accountants; it simply made them more productive. Similarly, Adobe Photoshop didn’t make painting obsolete; it became a tool used by many painters. When humans collaborate with computers, such as in chess games, they tend to win.
For prospective investors looking to capitalize on AI advancements, Stals advises patience. While big tech companies have been riding the AI wave and driving a rally in tech stocks, the real value lies in the second-order impacts. How will businesses across various industries utilize these tech tools to create more value? The healthcare industry might leverage AI for new diagnostic services, while manufacturing businesses can increase productivity.
In conclusion, the rise of AI represents a significant shift in technology. While there are concerns and challenges to overcome, the potential for innovation and growth is immense. Whether you’re a business owner, an investor, or simply someone interested in the future of technology, AI is an area worth exploring.
Editor’s Notes:
As AI continues to evolve and disrupt various industries, it’s important to stay informed and up-to-date with the latest developments. GPT News Room provides a comprehensive resource for news, insights, and analysis on AI and its impact on society. To stay ahead of the curve, visit GPT News Room today.
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