AI may undeniably boost productivity in areas like as help desks, accounting, and programming, however, total replacement of human personnel remains a distant goal. It has been shown that ChatGPT and other AI models have various flaws.
One of these is its tendency to fabricate and falsify information. Even when provided correct information, ChatGPT frequently makes errors when summarizing reports. On the other hand, users of the AI-powered Bing search engine may encounter instances in which Bing cites bogus references to back up its results. A Stanford University study found that 25% of the citations provided by Bing lacked rationale for the conclusions reached.
Furthermore, Bing’s errors extend to financial reporting. The AI’s failure to appropriately describe financial data casts doubt on its dependability in critical situations.
Given the current level of AI technology, blindly trusting AI chatbots and presuming their correctness is risky. While ChatGPT and related programs appear to be helpful, their efficacy may be compared to the overconfidence demonstrated by people suffering from the Dunning-Kruger effect—a cognitive bias that causes them to overestimate their talents and expertise. As a result, CEOs and business executives who assume that AI will solve labor issues by replacing workers are mistaken.
The sources for this piece include an article in ComputerWorld.
