On March 28, Goldman Sachs published a document stating that generative Artificial Intelligence could automate 300 million jobs that are currently performed by people. However, the text pointed out that “the good news” is that “labor displacement caused by automation has historically been offset by the creation of new jobs”, which may give rise to a context in which a ‘boom’ occurs ‘ productive that increases economic growth.
ChatGPT and the four day week. In this sense, Goldman Sachs estimated that the increase in productivity caused by Artificial Intelligence can generate a 7% increase in global GDP. This reflects the potential of AI applied to the economy. In fact, Christopher Pissarides, Nobel Prize in Economics in 2010, recently showed his confidence towards generative AI, stating that ChatGPT could be the door to implement the four-day work week without salary reduction.
Optimism. As reported by Bloomberg last week, the Greek Cypriot economist said in an interview at a conference in Glasgow that he was “very optimistic” about the increase in productivity that chatbots like ChatGPT can generate. “We could increase our well-being in general terms at work and have more free time. We could easily move towards a four-day week,” added Pissarides.
The best for humans. The economist said that these generative AI tools could take care of many tedious tasks that are carried out at work, leaving “the interesting things for human beings”. In addition, according to Pissarides, despite the fact that the development of this technology is being rapid, the adoption by companies is being slow, so the automation of certain jobs will be “less painful”.
progressive adaptation. In this sense, Pissarides pointed out that knowing the real impact of chatbots on the economy will take a long time, during which people will adapt little by little. “What you need in this adjustment is basically to improve professional qualifications.” In other words, if AI is used correctly and if workers and users learn to work with it properly, tools like ChatGPT can contribute positively to our society.
Similarities. In fact, this debate was already raised a few months ago in the educational field. After learning that numerous students were using ChatGPT to carry out their academic tasks, many teachers raised the alarm. In January, the New York Department of Education decided to ban access to this chatbot through electronic devices in public schools in the Big Apple due to its “negative effects on student learning.”
college alarm. For their part, the eight main universities in Australia, grouped together in the so-called Group of Eight, decided in January to review their evaluation methods in light of the detection of the use of ChatGPT among their students to carry out their tasks and academic tests.
The other side of the coin. However, there are those who defend, in the line of Christopher Pissarides, that if used well, ChatGPT can provide numerous advantages. In this sense, Stewart Brown, a primary education teacher in a Scottish school, published in January a tweet stating that the chatbot could reduce the workload of teachers. As an example, he posted a video in which ChatGPT wrote the instructions for a class activity based on the guidelines provided by the teacher.
a correct use. In this broad debate, Marc Romainville, a professor at the University of Namur (Belgium), stated in January that ChatPGT enables the development of “higher human intelligence skills.” This follows the line of Pissarides and the Goldman Sachs report according to which the existence of this chatbot is accepted as one more technological advance whose advantages can be immense if used correctly.
Beyond worry. In short, the potential of ChatGPT is colossal. States are cautiously observing this tool, and some intellectuals and billionaires warn of its negative effects. In the midst of this uncertainty, a Nobel prize winner in economics takes the floor and affirms that, if used correctly, it could increase economic performance and establish the four-day week. Contributing, in this way, to improve society.
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