Generative AI to drive headcount efficiencies in business.

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When large language models (LLMs) like ChatGPT expand, enterprise headcounts may begin to decline.

This is because, according to a recent article from OpenAI researchers, the potential consequences of generative pre-trained transformer (GPT) models and next-generation software tools built on top of them might influence up to half of the activities required for 19% of occupations in the United States.

“Our research shows that the implications of LLMs like GPT-4 are likely to be ubiquitous,” the paper concluded, adding that ChatGPT might disrupt at least 10% of US workers’ jobs in “some manner.”

Industries that currently entail a range of software-driven activities may suffer more disruption from AI technologies, whereas industries depending on manual labor, such as food service and hospitality, forestry, and others, are likely to experience the least impact.

“Although LLMs’ capabilities have continually increased over time,” the research concluded, “their rising economic influence is projected to endure and rise even if we cease the development of new capabilities today.”

Technological advances fueled by generative AI are fast gaining traction in the marketplace.

ChatGPT-4, OpenAI’s latest AI chatbot, is already capable of passing the bar exam, extracting insights from financial records, programming computer code, and drafting marketing copy.

Will it, however, one day be able to replace lawyers, accountants, software engineers, and ad agency creatives?

Microsoft, an early OpenAI investor, is incorporating the new GPT-4 AI model into its redesigned Office apps, which include Excel, PowerPoint, Outlook, and Word.

“ChatGPT is going to be in everything,” General Motors Vice President Scott Miller said earlier this month, referring to the chatbot’s use in vehicles.

Over 50% of human resource leaders are already developing employee usage guidelines, while top financial organisations such as Bank of America, Goldman Sachs, Citigroup, Deutsche Bank, and Wells Fargo have openly prohibited the use of ChatGPT. Employees at J.P. Morgan are not permitted to utilise it.