No, ChatGPT and generative AI won’t destroy humanity (but they could seriously harm your business)

No, ChatGPT and generative AI won’t destroy humanity (but they could seriously harm your business)

(This article is part of a Series on artificial intelligence To members of the Board of Directors and senior executives.)

In June 2023, Yale University brought together 150 founders, CEOs, and presidents of Fortune 500 companies, along with distinguished professors, investors, and government dignitaries, to discuss the “threats, hopes, and hype” of artificial intelligence. Among other lines of inquiry, the organizers asked the esteemed association for its opinion on one provocative question:

“Can artificial intelligence destroy humanity?”

And the results? 8% of attendees believed that artificial intelligence could actually destroy humanity within just five years; Another 34% said it would take 10 years for AI to eliminate humans; The remaining 58% believed that this existential anxiety was exaggerated.

But what was interesting to me about the survey was another statistic, which was the number of respondents who believed that AI could destroy humanity “within one year.”

The answer to that? zero. no one. No one in the room was concerned about the existential threat of AI on the one-year timeline.

It’s very good news, isn’t it?

Well maybe.

No, it’s not the end of the world as we know it, but — if you’re at all responsible for the future of your company — you shouldn’t feel at all okay. The changes set to arrive next year won’t destroy humanity, but they could actually hurt your business, if you don’t take immediate action.

Here are three ways generative AI can damage slow engines:

1. Productivity gap:

I’ve previously written about the efficiency and production benefits that companies that aggressively embrace AI will gain. AI has been increasing revenues and reducing costs for some companies for years, across customer service, sales and marketing, product development, software engineering, supply chain management, competitive intelligence, and many other areas. (is reading “5 Ways Artificial Intelligence Can Increase Your Revenue).

with you? Well, the National Bureau of Economic Research estimates the average increase in AI productivity at 14%, while some companies gain as much as 400%. 92% of large companies saw returns on their AI investments in 2022, while 8% of top AI users attributed a full 20% of their EBIT to AI in 2022 – and that was before most people had heard of ChatGPT !

This, of course, is just the beginning. McKinsey predicts that generative AI alone will add $4.4 trillion to global output annually – more than the UK’s GDP. It is clear that if your organization is not aggressively looking for opportunities to apply AI, you may soon find yourself unable to close the productivity gap between you and your competitors.

Discover the productivity gains that can be achieved with AI in your organization and aspire to be a leader, not a laggard. (is reading “What do you do with all this productivity?“)

2. Cyber ​​attacks supported by artificial intelligence:

I’ve also previously warned of cybercriminals using generative AI to trick targets. (is reading “Artificial intelligence risk management for corporate boards“) In fact, 75% of security professionals reported an increase in cyberattacks over the past year, most attributed to generative AI. Between January and February 2023 alone, there was a 135% increase in new social engineering attacks, following the release of ChatGPT .

These generative AI attacks include sophisticated phishing emails that use large linguistic patterns, as well as virtual hijackings that use deepfakes and voice cloning technology. But AI is also used to select victims and gather useful information about them, to scan code for vulnerabilities, and to write malware that exploits those vulnerabilities. Worst of all, this can be done by someone with a very limited skill set, thanks to artificial intelligence.

This may not be an existential problem for your company yet, but the damage a successful AI-powered cyberattack can do goes beyond financial loss. It can also result in the loss of important data, erode your customers’ trust, and hurt your stock price.

Gather your cybersecurity teams and vendors today to see if you can outperform new AI threats? Or is it the other way around?

3. Lightning disturbance:

The third threat that corporate executives and board members need to worry about is the potential for disruption at a speed we have never seen before. Before November 2022, most business leaders had never heard of big language models. The release of ChatGPT had an almost immediate impact on a number of players in the industry. Shares of language learning platform Chegg fell nearly 50% overnight and continued to decline, as it became clear that subscribers were abandoning the ChatGPT platform. (As of this writing, Chegg is trading at about 30% of its 2022 stock price.)

It took 13 years since Netflix was founded for it to be able to drive popular video into bankruptcy. It took at least five years for Uber and AirBnB to make a significant impact on the transportation and hospitality industries, respectively. But while technology has been the key to disruption in many industries in the past two decades, it is clear that artificial intelligence has the potential to generate massive disruption in record time – even for the mighty Google.

Disruption in AI has already begun, whether through new AI methods like the ChatGPT you know, or through dozens of other developments you don’t know about. Experts have identified healthcare, banking, logistics, insurance, customer service, e-commerce, and more industry sectors as particularly vulnerable to lightning disruption. Although it may not seem like a “code red” today, Ernest Hemingway explained how this type of bankruptcy occurs in… The sun also shines“Two ways: gradually, then suddenly.”

Research what’s happening in AI and examine where your organization may be vulnerable to disruption. (is reading: “If ChatGPT can revolutionize Google in 2023, what about your company?”)

No, AI will not “destroy humanity” in one year, if it ever happens at all. But we will witness shocking changes in the business landscape, which will lead to the rise of some players and the fall of others. You could be outmaneuvered and find yourself on the path to reduced revenue with no way out. In fact, it is not enough to “do enough” in this regard. I encourage you to make AI a topic of discussion at every board and executive meeting.

If you’re interested in how AI identifies winners and losers in business, how you can leverage AI to benefit your organization, and how you can manage AI risks, I encourage you to follow it. I write and speak about how C-suite executives, board members, and other business leaders can use AI effectively. You can read previous articles and be notified of new articles by clicking the “Follow” button here.
Follow me LinkedIn. paying off My website.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *