Headcount Efficiencies to be Driven by Generative AI Across the Business

2
b2b

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 now involve a variety of software-driven activities may be more affected by AI technology, whereas businesses that rely on manual labor, such as food service and hospitality, forestry, and others, are likely to be less affected.

“While LLMs’ capabilities have steadily risen over time,” the study found, “their growing economic effect is expected to remain and grow even if we stop developing new capabilities today.”

Technical advancements powered by generative AI are quickly acquiring industry momentum.

ChatGPT-4, OpenAI’s latest AI chatbot, can already pass the bar exam, extract insights from financial information, program computer code, and write 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 organizations 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 utilize it.