India Inc. is becoming more receptive to ChatGPT, the cutting-edge AI toy that has captivated the world.
Human resource specialists are sure that the disruption to the job market will become more obvious in six to twelve months, even if a few businesses are already testing out OpenAI’s artificial intelligence chatbot. Most people do not want this to be connected to layoffs, though.
The emerging technology brings many data privacy and security issues unknown even to security experts. Hence the Security professionals have advised caution while dealing with ChatGPT. Demand has increased recently as more businesses introduce ChatGPT to explore its potential. Others, like Air India and the micro-blogging service Koo, have been quicker to take advantage of the technology.
Industry Reacts
SingularityNET CEO Ben Goertzel recently said that more than 80% of current jobs will soon become obsolete. Ben was talking in a Web Summit in Rio de Janeiro.
The Koo platform, which competes with Twitter in India, just added ChatPT to help users create postings. According to the Koo’s CTO Phaneesh Gururaj, ChatGPT has also been used internally “very actively” since the last month. They have particularly used it on the back-end to “deeply integrate” various engineering practises. The startup has reduced its personnel by about one-third over the previous year. He emphasized that the layoffs are unrelated to using AI technology, but he acknowledged that there will be some positions in the sector where “obviously GPT will help in making things faster at a lower cost”.
A step further has been taken by employee health insurance provider Plum. They have released “PolicyGPT,” an AI chatbot built on top of OpenAI’s GPT-3.5 API. It enables customers to receive a quicker response to policy-related questions without waiting for the customer care. However, currently ChatGPT has an accuracy of 96.3%. This has prompted the organization to employ a smaller group of human agents for due diligence.
Word of Caution
“Since the technology is still in its infancy, businesses should commence their experiments with soft instances rather than life-critical ones. Get some feedback, boost your confidence, and use this in other mission-critical apps, advised Plum CTO Saurabh Arora. In an interview on May 2, the CEO of IBM stated that the business would halt hiring and use AI to replace 7,800 positions.
According to Janet Paul, Director, Human Resource, APJ & ME at Securonix, using generative AI technologies like ChatGPT can help businesses save money by reducing costs for office space, transportation, and social security benefits in addition to employee salaries.
Instead of raising payroll, businesses can optimize the performance of their employees by efficient usage of AI. Smaller companies may use the technology to reuse current staff rather than hire new ones. According to Ashutosh Khanna, Co-Founder & Director of WalkWater Talent Advisors, a Bengaluru-based executive search agency, it might also give businesses more negotiating power over workers, particularly those at the entry level.
“If you follow the trend of some of these big companies that have laid off people in big numbers, you will see within a short period of time that they’ve invested in AI technology,” he emphasized.
Risk Assessment
The majority of experts reasserted that businesses should proceed cautiously.
For example, ChatGPT-like technologies can be made to leak confidential company information, which rivals can use. Samsung has banned the use of generative AI tools by its employees after discovering an internal data breach to ChatGPT.
According to Kayzad Vanskuiwalla, Director, Cyber Threat Detection and Analytics, Securonix, large organisations may be more cautious, and enterprise grade uptake could take up to two years. He continued that utilizing a new AI program that is prone to vulnerabilities would require several inspections. This is because more established players are well regulated and have established practices.
New Job Opportunities
Although ChatGPT and AI may be the end of the work market in the near future, their rapid adoption would lead to the creation of numerous new positions. According to a Foundit poll, demand for AI job opportunities actually increased 11% in India in only six months, but hiring for these positions has been hampered by a severe talent shortage.
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