ChatGPT might be a hero of humanity or just another ‘horrible product’. Here’s what Elon and Bill Gates have to share about this red-hot AI.

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• Bill Gates, Elon Musk and Paul Krugman all contributed to the discussion on ChatGPT, which is the hot topic of the year.
• OpenAI's CEO called the chatbot "horrible", while Kevin O'Leary believes the tool poses a threat to Google.
• These are the views of 12 Wall Street bankers, academics, and investors on the human-like robot.

ChatGPT stole the show this year and has gathered a lot of admirers and detractors among some of the most influential people in the world.

Everyone has something to say, from prominent figures like Bill Gates and Elon Musk to Wall Street banks such as Morgan Stanley.

The artificial-intelligence tool, developed by OpenAI, recently shot to fame after bagging a $10 billion investment from Microsoft. The tool has also demonstrated impressive abilities, from writing layoff emails to dating-app messages to giving Warren Buffett-style investment advice in a matter of seconds.

Steve Wozniak, Apple cofounder, believes ChatGPT "pretty impressive", while other investors like Mark Cuban, a billionaire investor, have raised concerns about ChatGPT's ability to spread misinformation.

These are the views of 12 leading academics, banks and investors on the human-mimimating tool.

Elon Musk, Tesla, and SpaceX CEO

OpenAI was originally created to be an open-source (which is why I called it "Open AI") non-profit company to counter Google. But now it is a closed-source, maximum-profit corporation effectively controlled by Microsoft. Musk stated that this was not what Musk intended.

OpenAI, the company behind ChatGPT, was co-founded by the tech guru billionaire. The bot, he said, "has shown people how advanced AI is."

"The AI has been improving for some time. He said that it just didn't have an interface that was easily accessible for most people. Musk said that AI is both positive and negative, and that it has great promise and great capabilities. He also warned that AI can be dangerous.

Bill Gates, cofounder of Microsoft

"Although artificial intelligence was able to read and write, it could not comprehend the content. ChatGPT, a new program that helps to create invoices and letters, will improve the efficiency of many office jobs. "This will change the world," the billionaire stated in an interview.

Gates said that ChatGPT offers "exciting" uses for humans, including as a "math tutor for students" and offering "medical advice to people who are unable to access a doctor. He said that AI chatbots are just as important as the computer and the internet.

Paul Krugman, veteran economist

Krugman stated in a New York Times Op-Ed that ChatGPT is "only the latest example technology that seems to have the ability to perform tasks that not long ago required the services of not only human beings, but also of people with substantial formal education."

Larry Summers, ex-US Treasury Secretary

Summers stated that ChatGPT is not reliable in its current form and that skilled people can cause it to behave in very strange ways.

"But, you know, the very first rockets didn't always get off the launchpad, the first planes crashed, and the internet was full of pornography at its earliest days. He said that technology in its early stages always has a lot of problems and flaws."

Summers stated, "My guess is that within 10 years, we will all be relying in an important way on some descendent ChatGPT."

Mark Cuban, billionaire investor

Cuban spoke on the podcast "The Problem With Jon Stewart" and said that online misinformation will only get worse as AI tools like ChatGPT develop.

Cuban stated that once these things take on a life of its own, it will be difficult to understand why and how it makes decisions and who controls them. He said that "our generation, Gen X and older doesn't get it" about people who might not always verify information on the internet.

"Gen Z and younger are not only more familiar with it, but they also know how to prevent it from happening." He added that they are more sensitive to all these issues.

Kevin O'Leary Shark Tank investor

He stated that ChatGPT was a serious threat to Google and that Google should be aware of it. The market has not punished Google stock for this. However, we'll be watching what happens in a few quarters if ChatGPT starts to attract significant subscriber fees," O'Leary said to Insider's Phil Rosen.

O'Leary said that AI was "sort of the new, hot child on the block" like the internet 20 years ago. "This is the next big thing. What you learn from next things is that it is often better to invest in the first person and then sit back and wait."

Andy Jassy is Amazon CEO

Jassy stated that generative AI and ChatGPT are "exciting" and that it was exciting.

It's part what you see with models such as ChatGPT. He said that large, highly technical companies such as ours have been working on these large, generative AI model for a while.

Steve Wozniak, Apple cofounder

Wozniak stated that he was initially skeptical about any human-made technology being equivalent to nature. He added, "But ChatGPT's so impressive."

"I believe it will be as useful to humans than all computer technology. AI is the highest-end, where it follows procedures to learn […]. The problem is that it can make terrible mistakes by not understanding what humanness means," Wozniak warned.

Sam Altman, OpenAI CEO

Altman spoke out about the problems his chatbot created during a podcast interview. Altman even called it "a horrible product."

He said that people are simply going to sites that work sometimes and not so much. He said that people are typing in information, trying to get the right answer, then copying it and pasting it into another place — then trying to combine that with search results or other workflows.

ChatGPT, he said previously, is "cool for sure". It is loved by people, which makes it very joyful. Altman stated that while this product isn't perfect, it has so much value that people will be willing to endure it.

Mira Murati is the chief technology officer at OpenAI.

"I believe that it has the potential for revolutionizing the way that we learn. There are 30 students in a classroom. Everybody has different learning styles and backgrounds. Everyone is receiving the same curriculum. ChatGPT allows you to communicate with models to help you understand concepts in a way that suits your understanding. It can help us with personalized learning," Murati stated during a Q&A.

Matthew Bartolini State Street strategist

"The first time that I saw it, it was playing around with it — "Write us a blog about the benefits ETFs ChatGPT would only have a 'Bminus student' of market, State Street strategist who uses AI for stock picking says," and it got it probably at least 80% right in the way we would like to structure the argument," he said to Bloomberg's "What goes Up" podcast.

Bartolini said that ChatGPT gives you an approximate 80%. He joked with colleagues who have older children that ChatGPT would be a B-minus student, if it ever submitted its homework.

Morgan Stanley

ChatGPT will continue "hallucinating" incorrect answers for several years, according to the US bank.

"When talking about high-accuracy task it is worth mentioning ChatGPT sometimes hallucinates, and can generate answers which are convincing but actually wrong," Shawn Kim, Morgan Stanley analyst, wrote.

They added that Generative AI applications can be used as an augmentation of existing labor, rather than as a substitution at this stage.

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By: ztayeb@businessinsider.com (Zahra Tayeb)
Title: ChatGPT could turn out to be hero for humanity or just a ‘horrible product’. Here’s what Elon Musk, Bill Gates and 10 heavyweights have to say on the red-hot AI.
Sourced From: markets.businessinsider.com/news/stocks/chatgpt-elon-musk-bill-gates-mark-cuban-krugman-artificial-intelligence-2023-2
Published Date: Sat, 25 Feb 2023 10:00:00 +0000