ChatGPT, an artificial intelligence system, has passed a graduate-level accounting exam at the University of Pennsylvania’s Wharton School, according to a new research report.
Christian Terwiesch, a professor at Wharton, which is considered one of the most prestigious business schools in the United States, said he wanted to test growing concerns about the chatbot’s potential. It comes amid a wave of concerns from academics that students would use the tool to cheat on their exams and homework.
In his essay titled “Would Chat GPT3 Get a Wharton MBA?” Terwiesch concluded that “Chat GPT3 would have received a B to B grade on the exam,” which had “important implications for business school education.” has”. He suggested that the school revise its examination regulations, its teaching and its curriculum.
He went on to write that the AI system demonstrates “a remarkable ability to automate some of the skills of highly paid knowledge workers in general, and knowledge workers in MBA graduate jobs in particular, including analysts, managers, and consultants.” The bot was designed to have a human-like conversation via artificial intelligence.
Designed for the mass market, the chatbot “also demonstrated the ability to perform professional tasks such as writing software code and drafting legal documents,” according to its paper (pdf). In one instance, ChatGPT did “a great job” and provided answers that were correct or “excellent.”
“ChatGPT3 is remarkably good at modifying its responses in response to human cues. In other words, in those cases where it initially failed to match the problem with the correct solution method, Chat GPT3 was able to correct itself after receiving a corresponding hint from a human expert,” the paper reads.
According to OpenAI, which launched last November, ChatGPT describes itself as a “large language model” that can be used for “natural language processing tasks such as text generation and language translation.” The “GPT” in the name stands for “Generative Pretrained Transformer”.
“One of the main features of ChatGPT is its ability to generate human-like text responses to prompts,” says the manufacturer OpenAI. “This makes it useful for a variety of applications, e.g. For example, creating chatbots for customer service, generating answers to questions on online forums, or even creating personalized content for social media posts.”
Terwiesch compared the potential of ChatGPT to the impact electronic calculators have had on the corporate world.
“Before the advent of calculators and other computing devices, many companies employed hundreds of people whose job it was to manually perform mathematical operations such as multiplication or matrix inversions,” he wrote. “Obviously, such tasks are now being automated, and the value of the skills involved has decreased dramatically. Likewise, any automation of the skills taught in our MBA programs could potentially diminish the value of an MBA education.”
But Terwiesch clarified that ChatGPT made some glaring mistakes. For example, the AI system made “startling errors in relatively simple calculations” on sixth-grade math problems that were “of tremendous proportions.”
The latest version is currently “unable to handle more advanced process analysis questions, even if based on fairly standard templates,” he said. ChatGPT was able to correct itself after a tip, the researcher added, but because of the significantly incorrect responses, “we still need someone in the loop.”
It comes as Microsoft confirmed Monday it will invest billions in OpenAI. The exact amount was not disclosed by the company.
“We have built our partnership with OpenAI around a shared goal of responsibly driving forward-looking AI research and democratizing AI as a new technology platform,” Microsoft CEO Satya Nadella said in a press release. “In this next phase of our partnership, developers and organizations across all industries will have access to the best AI infrastructure, models and toolchain with Azure to build and run their applications.”
According to a Fishbowl survey, around 27 percent of professionals at well-known consulting, technology, and financial services firms have used ChatGPT in a variety of ways. There may be simple answers to questions that some say could jeopardize Google Search, the world’s most-used search engine.