AI Costs Dropping 70% a Year - Cathie Wood on ChatGPT & Moore’s Law

TL;DR

Chat GBT is becoming more affordable and powerful, making it a valuable tool for businesses and employees.

Transcript

I would rather hire somebody that has a grasp of using Chachi BT to make them a more efficient employee because I'm paying them X whether it's salary or hourly chat gbt is getting cheaper and smarter faster than Moore's Law it's huge the cost to develop large language models is rapidly decreasing faster than anything we've seen before and the power... Read More

Key Insights

• 👨‍💼 The cost of developing AI technology like Chat GBT is rapidly decreasing, making it more accessible to businesses.
• 💡 AI technology, while not a replacement for human strategists, can assist in generating ideas and improving efficiency.
• 👊 Chat GBT can help employees accomplish more in less time, ultimately increasing productivity.
• 🔠 AI technology is only as good as the instructions and input it is given, highlighting the importance of human input and guidance.
• 🫠 Businesses can use Chat GBT to cut costs in areas such as advertising by targeting ads more effectively.
• 👨‍💼 AI technology continues to evolve and improve, providing opportunities for businesses and employees to utilize its capabilities.
• 👶 The growth of AI technology requires individuals to adapt and acquire new skills to stay relevant in the changing landscape.

Questions & Answers

Q: How has the cost of developing large language models like Chat GBT changed over time?

The cost to develop Chat GBT has significantly decreased, with predictions suggesting that by 2030, it could cost as little as $30 to build. This decrease in cost makes AI technology more accessible to businesses.

Q: Can AI technology like Chat GBT replace human strategic thinkers?

No, AI technology is not a replacement for human strategists. While it can assist in generating ideas and providing information, it lacks the creative and strategic thinking that humans possess.

Q: How can Chat GBT be used to improve efficiency in the workplace?

By using Chat GBT, employees can accomplish tasks more quickly and efficiently. For example, a social media assistant can use Chat GBT to write triple the amount of content in the same amount of time, increasing their productivity.

Q: Are there any limitations to AI technology and Chat GBT?

AI technology like Chat GBT is essentially a tool that relies on algorithms and existing data. It cannot generate entirely new ideas or concepts on its own, making human input and guidance necessary.

Summary & Key Takeaways

• The cost of developing large language models like Chat GBT is rapidly decreasing faster than ever before, making them more accessible for businesses.

• AI technology like Chat GBT can make employees more efficient and productive, allowing them to accomplish more in a shorter amount of time.

• While AI technology is not a replacement for human strategists or creative thinkers, it can serve as a valuable assistant to help generate ideas and improve output.