This Newsletter Was NOT Written with ChatGPT

ChatGPT has achieved widespread popularity since its November 2022 release, currently boasting 57 million active users, an average of 13 million users per day.

Certainly, that’s a product utilization metric most companies would salivate over.

The chatbot, a specific implementation of OpenAI’s Generative Pre-Trained Transformer 3 (GPT-3), is a language model that utilizes natural language processing (NLP) and deep learning algorithms to generate human-like responses based on the text input provided by users.

Users leverage the GPT-3 to do a variety of tasks, including but not limited to:

●     Write blog posts, social media copies, news stories, articles, and other types of text

●     Create outlines

●     Create presentations

●     Summarize paragraphs

●     Write code

●     Translate text into commands

●     Translate between programming languages

AI tools like GPT-3 and its variant, ChatGPT, show us that AI-powered applications can provide its users with a method to drastically increase their efficiency. Gone are the days when individuals must rely solely on their skill and brain power to get the job done.

It’s just one example of how AI can dramatically improve performance and efficiency within organizations. Is this a “robots are taking away jobs” scenario? Not really. AI still requires skilled trained inputs and management, as well as ongoing development work to train, maintain, and improve. If anything, AI frees up organizations to innovate outside of the bounds of traditional workload limits and enables organizations to reach goals faster and more efficiently.

Trending Topics:

●     Equal Employment Opportunity Commission's chair According to Charlotte Burrows, chair of the U.S. Equal Employment Opportunity Commission (EEOC), 83% of employers including 99% of Fortune 500 companies admitted to using some form of automation in their hiring processes. Now, the question remains whether discrimination can occur when AI tools and algorithmic decision-making tools are used in selecting job applicants.

●     Lawmakers from Maryland recently filed a bill establishing a pilot program to test the viability of a four-day workweek. Participants of the state-sponsored project can get up to USD 750,000 in tax credits per year. If passed into law, the program will last until 2028.

●     The U.S. House of Representatives recently passed a bill that would require federal employees to report for on-site work.

●     Amid the recent wave of layoffs in the tech industry, the U.S. Office of Personnel Management is looking into the possibility of increasing the pay of tech workers across the government in an effort to attract tech industry talent.

●     To further cut costs, Mark Zuckerberg, the CEO of Meta, announced plans for a new round of layoffs. Employees are bracing for the possibility of the tech firm cutting around 5% to 10% of its headcount.

●     Jerome Powell, chair of the U.S. Federal Reserve, acknowledged that the economy is now in a phase of “disinflation” due to price pressure cooling. This comes in the wake of the Fed’s announcement that it would hike rates by 25 basis points.

●     In an effort to save costs without cutting jobs, Intel will be slashing the pay of executives and managers.

Of course, we’d love to talk virtually as well. Share your thoughts with us at MBO Partners on Twitter, Facebook, Instagram, and LinkedIn, and we’ll see you again next week!

Today's story was guest authored by SVP of Engineering Bittu Ahlawat .