“Unless you’ve been in a rough spot in the last eight months, you’ve heard of ChatGPT,” said Jimmy Lin, professor and dean of the University of Waterloo’s David R. Cheriton School of Computer Science. increase.
“It is the fastest growing consumer application in history with over 100 million active users in less than two months. Months, Instagram took two and a half years.”
The historic increase in popularity and access to generative AI technologies like ChatGPT and Bard is rapidly changing the way we work. His WatSPEED in Waterloo will host a masterclass at Collision 2023 to unravel the rapid rise of ChatGPT and other large-scale language models (LLMs) like it and launch strategies to unlock its transformative potential. Offered to home and business executives.
Lin led the session with art professor Joel Britt. Britt said the biggest lesson we can learn from history about general-purpose technology is that “it takes decades to really feel the impact.”
But now that LLM has been around for about 10 years, “we are really at a tipping point … about to explode,” Britt added.
Lin explained the three phases that all general-purpose technologies go through. The first is “displacement,” where new technology replaces old technology and humans. The second is “reimagining,” a fundamental change in processes and business models to take advantage of new technologies. And his third phase is “recombining”, where technologies are combined with other new or existing technologies to create entirely new use cases or applications.
“Think about computers,” says Lin. When they first appeared, they were meant to replace manual tasks performed by humans, but then companies began changing their practices to make computers ubiquitous in their internal processes. Then came smartphones and the Internet, which truly revolutionized how we use computers today.
Britt pointed out that we are currently in Phase 1 of LLM and smart business leaders should break down their workflows into tasks and identify things that can be automated, such as content generation, retrieval, and synthesis. . But if leaders want to innovate and outperform their competitors, they must move quickly to Phase 2 and rethink how they do business.
Britt added that Phase 3 may be a long way off, but when it happens, “we’re going to have the next big company here.” [to market] …here will be the next Amazon, Facebook, or Google. “
The masterclass kicked off a rethinking of AI technology in the workplace, leaving no doubt that we are on the brink of a major transformation in our economy and society. Britt and Lin said this change will only happen once or twice in a generation, and there will be winners and losers.
Britt gave an example of Amazon taking advantage of the Internet boom to start selling books online. This is a radical reinvention of the retail industry as we know it.
Brit’s key takeaways for over 130 attendees were clear.
“You have a once-in-a-generation opportunity to truly transform your business and disrupt your industry, or someone else’s.”
WatSPEED offers programs for professionals
Waterloo has always been at the forefront of developing the talent of the future. Her WatSPEED program at the university provides professional education to help today’s leaders navigate an ever-changing environment. This masterclass-like programming on generative AI helps executives and industry professionals keep up with emerging technologies and understand their business, economic, environmental, and social impacts.
Learn more about WatSPEED’s program and course offerings here.
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