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HBR IdeaCast

Why You (and Your Company) Need to Experiment with ChatGPT Now

Mar 14, 2023
23:39

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Podcast summary created with Snipd AI

Quick takeaways

  • Companies need to proactively experiment with ChatGPT to understand its implications and develop strategies to harness its power.
  • ChatGPT has the potential to significantly increase productivity, especially in tasks such as business writing and coding, but ethical considerations and risks of misinformation need to be addressed.

Deep dives

Chat GPT: A Game-Changing AI Technology

Chat GPT, an easily accessible AI technology, has the potential to significantly increase productivity, according to Ethan Mollick, an associate professor of management. Studies have shown productivity improvements of 30% to 50% through the use of Chat GPT, even without fully optimized systems. The technology is particularly useful for tasks such as business writing and coding, enabling users to save time and automate repetitive tasks. Its potential applications range from generating marketing ideas to conducting research. However, while the technology offers significant benefits, it also presents challenges, including the risks of misinformation and ethical considerations.

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