OpenAI's GPT-4 model, described as "mildly embarrassing at best," surpasses professional analysts and advanced AI models in forecasting future earnings trends
What you need to know
A new research study shows OpenAI's GPT-4 model is better at predicting future earning trends than professional financial analysts or state-of-the-art AI models trained to handle such tasks.
The researchers indicate that GPT-4 didn't have access to qualitative data during the study.
The study attributes GPT-4's performance to its economic reasoning capabilities and an in-depth analysis of economic trends and ratios.
Generative AI is quickly gaining traction worldwide. Microsoft's latest Work Trend Index report indicates that top executives won't hire anyone without an AI aptitude, prompting "a 142x increase in LinkedIn members adding AI skills like Copilot and ChatGPT to their profiles."
Likewise, Elon Musk admits that we're on the verge of the biggest technology revolution with AI, but we risk technology taking over our jobs and eventually ending humanity. While there's a 99.9% chance the latter will happen according to p(doom), it remains unclear if the technology will claim our jobs.
Microsoft's Work Trend Index report further indicates AI is creating more job opportunities than losses, with company leads expressing concern over insufficient talent to fill vacancies. And now, according to a new study, OpenAI's GPT-4 model seemingly outperformed professional financial analysts in predicting future earning trends (via The Rundown AI).
While we'll not delve into the intricate details of the study, the researchers provided the AI model with standard anonymized statements and prompted it to assume an analyst's persona to process important financial information from the statements.
Aside from outperforming professional financial analysts, GPT-4 boasted better analytical capabilities than other state-of-the-art models specifically trained to handle and predict future earning projections.
According to the study, the superior analytical capabilities stemmed from GPT-4's reasoning capabilities and an in-depth analysis of economic trends and ratios. It's worth noting that GPT-4 didn't have access to qualitative data during the study but still registered incredible results.
The study aligns with Elon Musk's prediction, which paints a picture of a job-free future. Musk says AI will provide all the services and goods we might need, turning work into an 'optional' hobby. "If you want to do a job that's kind of like a hobby, you can do a job," added the billionaire.
Musk isn't the only one who thinks AI will potentially render some careers obsolete in the not-so-distant future. NVIDIA CEO Jensen Huang indicated that coding might not be a viable career option for the next generation and recommended biology, education, manufacturing, or farming as better alternatives.
Some professions, especially architectural jobs, are potentially on the verge of becoming redundant. Even though AI-powered tools like Image Creator from Designer (Bing Image Creator) have been lobotomized, they are certainly good enough to render graphic designers and architects redundant. Interestingly, Copilot, ChatGPT, and Midjourney can't generate a simple, plain white image.
