ChatGPT will quickly handle at least half of the tasks of financial investment jobs, researchers predict

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ChatGPT will quickly handle at least half of the tasks of financial investment jobs, researchers predict

The debate continues on whether generative A.I. large language models (LLMs) like ChatGPT, designed to understand and generate human-like text, will impact the future of work, including finance.

Researchers at OpenAI, the company that launched ChatGPT, and the University of Pennsylvania released a working paper last week titled, “GPTs are GPTs: An Early Look at the Labor Market Impact Potential of Large Language Models.”

It predicts that about 80% of the U.S. workforce could have at least 10% of their work tasks affected by the introduction of LLMs. And “approximately 19% of jobs have at least 50% of their tasks exposed when considering both current model capabilities and anticipated tools built upon them,” according to the report.

They measured the "exposure" of detailed work activities, which is like a job description, and tasks to LLMs' capabilities. No exposure means using an LLM via ChapGPT didn’t reduce the amount of time to complete an activity. Direct exposure means it reduces the time at least by half. And a third category indicated that access to an LLM alone wouldn’t reduce the time by half—but additional software developed on top of the LLM could achieve that goal.

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