Yannick Lallement, VP at Scotiabank, discusses the use of ChatGPT in the workplace. The episode covers generative AI and its benefits, including creative writing and simulations. Ethical concerns and the future of generative AI are also explored.
ChatGPT is a powerful tool for aiding creative writing and simplifying complex texts in the workplace.
The use of generative AI like ChatGPT raises concerns about data security, hallucinations, and ethical issues.
Deep dives
Understanding Generative AI and its Capabilities
Generative AI, specifically demonstrated by chat GPT, is a form of artificial intelligence that can generate text and images. Unlike traditional AI that classifies or predicts, generative AI creates things based on prompts. Chat GPT, developed by OpenAI, uses a massive training corpus that includes the entire collective internet to predict the next word or create plausible texts. While it excels at generating short texts and answering general knowledge questions, it lacks the ability to remember context beyond a few thousand words, making it unsuitable for longer texts or novels.
Real-World Applications of Generative AI
Generative AI, such as chat GPT, has found utility in various workplace scenarios. It aids in creative writing by assisting in the generation, editing, and refining of text, making it useful for creating social media posts or crafting emails. Additionally, it proves valuable in analyzing and summarizing complex texts, particularly for industries dealing with voluminous regulations. It can help extract key points and simplify the understanding of lengthy documents. Other applications include assisting with Excel formulas for non-programmers and even simulating vendor negotiations for procurement professionals. However, it is important to note that chat GPT is a tool, not a replacement for human intelligence and creativity.
Concerns and Limitations of Generative AI
Employing generative AI, like chat GPT, in the workplace raises certain concerns. The first is the third-party risk associated with using an application developed by a company like OpenAI. Ensuring data security is crucial, leading some organizations to restrict chat GPT's usage to public data only. Another concern is the risk of hallucination, where chat GPT might produce incorrect or fabricated information with great confidence. This requires users to vet and verify the answers provided. Ethical issues also arise, as the training corpus used by chat GPT often includes copyrighted content without creators' consent, leading to potential copyright disputes. Despite these concerns, generative AI is expected to play a significant role in the future of work, with customized applications catering to specific tasks and employee groups.
You’ve probably heard of ChatGPT. It’s a chatbot that uses a form of artificial intelligence called generative AI. And it can do everything from suggest wine pairings to write a cover letter.
But how exactly should we be using this new technology in the workplace? Our guest this episode is Yannick Lallement, Vice President, Corporate Functions Analytics and Chief Artificial Intelligence Officer at Scotiabank. He’ll shed some light on how people are already using generative AI in the workplace, what the risks and blind spots are and where he sees this technology heading in the future.