Published 18 April 2024 in Technology • 10 min read • 
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Beyond being a technological marvel, OpenAI’s ChatGPT has become a societal phenomenon. The AI-powered chatbot broke the record for the fastest-growing app, amassing 100 million monthly active users within two months. Its popularity fueled the debate on the risks associated with AI. Goldman Sachs estimated that over 300 million jobs could be lost. Elon Musk, with more than 1,000 other tech leaders and researchers, signed an open letter urging a halt in the development of cutting-edge AI systems.
Despite these concerns, GenAI has taken root. For businesses, it is no longer a question of whether to invest in this fast-evolving technology but how to do so. Amid all the hype, what exactly are the real implications for decision-makers? In this article, based on my research, we will see how GenAI is impacting business practices and how you can stay up-to-date or even get ahead of the game by embracing it. In particular, we will see how GenAI can free up human talent to focus on more creative, complex tasks, with potential benefits for job satisfaction and well-being. We will look at the skills needed to make the most of large language models, exploring ways to use tools like ChatGPT to develop solutions for specific business challenges.
In the 1970s, when ATMs appeared in the US, it was feared that bank tellers would lose their jobs. However, a different story unfolded. The number of tellers grew at a faster rate than the rest of the US labor force. As research by James Besson, an economist at Boston University, suggests, this was likely due to cost savings implied by the innovation, enabling banks to open more branches.
Freed from the repetitive task of counting money, tellers could focus on more meaningful tasks beyond the capability of the machines, such as customer service.
The findings of my latest research paper, which studies the effect of ChatGPT on the way we code, echo the ATM story and have important implications for us all. The essence of coding is problem-solving, an intensive cognitive task crucial for all areas of business leadership. When coding, the aim is to achieve a result most efficiently with a given set of tools (commands). As many a coder will lament, more than half of the time spent coding is dedicated to debugging – or solving problems.
To study how coding had been affected by GenAI, I observed how the biggest online coding community, Stack Overflow, responded to the release of ChatGPT 3.5 in November 2022. Many coders refer to Stack Overflow to seek solutions for their coding problems by looking at existing questions and answers or by asking a new question.
My research revealed that, following the advent of ChatGPT, the number of questions asked on Stack Overflow dropped (see graph above), and the remaining questions were better documented and more complex. These findings mirror the US banking industry’s experience with the ATM: ChatGPT can solve many common problems. Coders need to ask fewer new questions as solutions to more everyday coding bugs are available. This results in improved productivity (resulting in fewer, better-documented new questions) and increased focus on more meaningful tasks (evidenced by the increased complexity of new questions).
How can these results be extrapolated beyond coding? Well, for example, GenAI can be used to generate automatic, generic email answers in Microsoft Outlook, freeing up time to answer more complex emails or do other tasks. It can take the minutes of a meeting in videoconferencing tools such as Zoom and share the results with participants, streamlining the process by freeing participants from the burdensome task of note-taking and editing, allowing for full engagement without diverting focus or resources in this particular context. In addition, ChatGPT is highly efficient at gleaning information from reports, however complex. Many of us have a long list of documents to read as part of our work.
Mostly, we don’t need or want to read the entire document while searching for specific information. Instead of scanning the index, reading the first line of each paragraph, or searching for keywords, it is now possible to give the document to ChatGPT and ask the questions that need answering. In this specific case, the output is very reliable as ChatGPT depends on a specific document and can even pinpoint where the information is located. Such automation allows us to delegate and speed up repetitive, routine tasks where we humans are not very effective and to focus on more cognitive-intensive tasks where we have a comparative advantage. Therefore, the door is opened to more interesting tasks, less boredom, and, in turn, greater motivation and job satisfaction. More research is needed to quantify and understand the impact this could have on our well-being, particularly when it comes to mental health.
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These are only a handful of examples of GenAI’s capacity to free up time and create space for more valuable tasks. The possibilities are endless. It is up to individual business leaders to define what matters most in their contexts and how GenAI can improve productivity and motivation. Why not take some time to explore these new tools and the possibilities? You don’t need a computer science doctorate to experiment. Play around with ChatGPT and see what solutions you can come up with for your specific challenges. You might be surprised at the results. Given how fast the world of AI is moving, you can gain a serious competitive advantage by integrating those tools early.  Â
Indeed, this technological revolution marks a transformative moment concerning the skills we need to make the most of tools such as ChatGPT. In particular, it calls for – and allows us to focus on – critical and strategic thinking instead of having to remember numerous small details with our limited cognitive capacity.Â
Let me again illustrate with coding. I started at age 11. In the early 2000s, I used to code from a blank page, having learned most of the commands by heart. I still code almost daily, but the time I spend writing code has been dramatically reduced because ChatGPT produces flawless code in seconds. ChatGPT writes faster than any human and with superior accuracy and attention to detail. Hence, I can now focus and rely on my comprehension skills. I read the code and validated that ChatGPT is doing the task I want to perform with some simple checks.Â
This shift doesn’t diminish the importance of technical skills; rather, it repurposes them. The focus is less on the laborious task of coding and more on critical thinking, problem-solving, and the capacity to formulate effective queries or prompts.Â
A recent GenAI breakthrough has further deepened this shift. In November 2023, during the OpenAI Developers Day, OpenAI’s CEO Sam Altman revealed a new tool: personalized GPTs. A year ago, finetuning a large language model like ChatGPT required extensive engineering experience. Now, it can be done using natural language, thanks to personalized GPTs. In other words, you can simply talk to the model, explaining tasks and reactions precisely as you would train a person to create an app. This evolution underlines the growing importance of communication, teaching, critical thinking, and prompt engineering skills. Â
The most fascinating part is that the potential and possibilities of GenAI app creation remain unknown. Have you thought about creating an app to boost productivity, help colleagues, or connect with clients with ChatGPT? Some companies, such as KAYAK or Canva, have already done so. KAYAK has launched a travel planning assistant that simplifies booking and trip planning processes, offering cost evaluation and other related services. Meanwhile, Canva leverages GPT to generate design templates within its platform based on user interactions, allowing for further customization. Depending on your objectives, the app can remain private or be made available for free on the ChatGPT app store.
To help you get started, I have presented my experience developing a ChatGPT app. This app might be directly of use as it allows us to make better decisions and improve data literacy, but it is also a case study on how to create an app to solve a specific challenge.
The advent of GenAI marks a pivotal shift in our professional landscape, steering us toward a future where creativity and critical thinking become more central than ever. By automating routine tasks, GenAI frees up time to focus on our strengths as humans – innovation and strategic insights. This is an opportunity to redefine our roles, making work more meaningful and our contributions more impactful.
Whether it’s through automating mundane tasks, enhancing creative processes, or developing new skills like prompt engineering, the potential for growth and innovation is unlimited. Embrace these tools, experiment with them, and consider how they can enhance your work. Share insights and experiences with your team or professional network, fostering innovation and continuous learning.
While GenAI promises to redefine our professional lives, the recent layoffs by Google, arguably attributed to efficiency improvements, remind us of the need for a cautious approach. This underscores the importance of adaptability and keeping an eye on industry trends as we navigate the evolving landscape of work influenced by GenAI advancements.
Did you know you can now create a GenAI App without a single line of code? OpenAI has released a tool that makes it possible to develop an app by simply talking to ChatGPT. Let me illustrate with my app, The Causal Mindset. Understanding the concept of causality – the relationship between cause and effect – is crucial for making informed decisions. In particular, understanding the concept of causality – the relationship between cause and effect – is vital in areas such as fighting climate change, our quest for happiness, and strategic decision-making. However, despite its obvious usefulness, few people are trained in causal inference, the academic discipline of connecting causes and consequences, leading to numerous abusive claims and costly mistakes for business.
To make those cognitive tools available to a wider audience, I created an app using ChatGPT. The process itself was fascinating. Instead of writing lines of code, it was like training a colleague in my area of expertise. I started by providing a knowledge base, essentially my articles on the subject, for the app to use as a primary source of information. Second, I provided instructions in natural language, telling the app to react in a certain way to certain types of information and questions.
How does my app work? You can share any finding, graph, article, or claim with The Causal Mindset app, and it will apply my framework to dissect and question its validity.
For example, in September 2022, Switzerland implemented an advertising campaign promoting the responsible use of energy and observed a reduction in energy consumption. Was this improvement purely the result of the campaign? Answer: The Causal Mindset flagged the potential role of changing weather patterns, climate awareness, and energy prices in usage trends and suggested solutions to address these issues.
To learn more about creating an app, click here to access helpful lessons and tips.Â
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