ChatGPT, in midst of challenges and opportunities!

Apr 7, 2023 thejournalbiz

Op/Ed by Arsim.Ajeti

arsim@thejournalbiz.com

*contributed by Driton Shala

The worldwide web or the Internet and access to information have changed how societies secure products, information and services. Technology today is transforming banking, retail, the gaming industry even healthcare, and the way we do business. In addition, even the way we interact with one another has significantly changed since the pandemic.

Today I will try to critically evaluate the latest phenomenon that is making a lot of buzz in the markets, the innovation otherwise known as ChatGPT.

According to the UBS consultancy, Openai’s project ChatGPT became the fastest-growing application in the history of the Internet.

Tweet on UBS findgs on ChatGPT

ChatGPT is the fastest growing user base platform in history and comes up in conversations at the dinner table. Can Artificial Intelligence help investors make investment decisions? And what could it mean for our future? Find out in this episode of #UBSTrending. #shareUBS pic.twitter.com/iq3WLyxmwE

— UBS (@UBS) March 2, 2023

UBS research on ChatGPT

The published research compared web application traffic data for all applications launched in the last 20 years with traffic on the official website, and the results show that ChatGPT has been visited over 100 million times within two months of its launch, setting an unprecedented record

Tiktok, took 9 months to reach 100 million users

But how applicable is ChatGPT today, and why do some critics remain cautious?

Digital transformation, is the key driver behind main global economies for years now, citing Stanford University the ‘Annual AI Findings Report’ the current trend should be considered a unique opportunity to further transform business operations, while significantly increasing productivity and efficiency by creating new niche products, with minimal costs.

In fact, some key areas from innovative businesses, such as: Salesforce, Snap, Microsoft and Google have started implementing the services of GPT, in their organizations. In order to increase efficiency and productivity, adapting artificial intelligence to the workforce is seen as a priority

Tweet by OpenAI on the ChatGPT announcement

Announcing GPT-4, a large multimodal model, with our best-ever results on capabilities and alignment: https://t.co/TwLFssyALF pic.twitter.com/lYWwPjZbSg

— OpenAI (@OpenAI) March 14, 2023

OpenAI tweet on the newest version of GPT

The shaken corporate portfolio and weakened global economy from the pandemics and inflation are more than willing to cut extra costs by increasing productivity and efficiency within their organizations.

Stanford’ ‘ AI Index Report 2022’, emphasized that artificial intelligence will be applied in almost all industries, pending the individual scale of adoption and regulation

Starting from art and fashion, marketing, businesses, online gaming, as well as health care, all without exception will benefit significantly from the implementation of the cited innovation, spearheaded by Mira Murati, from Albania

In addition, ChatGPT not only can code, or produce comprehensive reports, but it can write exams, and even function as a search platform, generating diagnoses and performing important tasks with extremely high efficiency.

Innovative startups and big corporations have already started the implementation phase, from Google to Amazon, automation is just a starter, as we already know Microsoft is now an integral part of ChatGPT, while Google, unleashed a promising AI product called Bard.

But how efficient is the integration of GPT in the healthcare industry?

In an interview for Bloomberg, Dr. Yair Lewis, from ‘Navina’ health institution, says that the automated chatbot is already being used to schedule appointments, as well as for assessing patients’ symptoms.

In addition, Doximity – a network of healthcare professionals, has been working for quite some time now through chatbots, assisting doctors with reports and diagnosing patience with cold or flu-like symptoms

While Salesforce and Taboola, officially announced that they are working on fully integrating ChatGPT into their platforms to help generate customer leads and advertising.

But how did the Western Balkans Countries react? and how specifically Kosovo can benefit from the latest trend?

Primarily, the western Balkan countries are plagued with inefficiency and endemic corruption, Transparency Intranational indicates on its findings.

However essential daily services can be significantly improved by automation, essential services like:

Vehicle registration- it takes several hours, sometimes even days to deal with meaningless administrative issues, add the additional payments and large cues at paying points makes the whole process extremely slow dull, and unproductive
Municipal services remain in a deplorable state – several certificate booths in the city and none of them are functional.
If you need other services, local residents are well aware of the challenges the whole process indeed is
Local healthcare is a procedural mess, hundreds of patients remain on the waiting list, while others through nepotism-like connections get the priority.

All these tiny mismanagements would be avoided through the automation of services while reducing expenses would be beneficial for the state budget, as inflation has furthered hammered the country, deemed to have the highest unemployment rate in Europe.

Despite the fact that Kosovo, alongside Albania, is considered the country with the highest Internet access per inhabitant in the western Balkans according to Eurostat.

However, the whole region stagnated since pandemics and economic development remains an existential challenge, alongside mass migration and corruption, that triggered an even bigger threat and that is the ‘brain drain’ phenomenon, the issues that could prove detrimental to the future of the whole region