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Chat GPT3, an artificial intelligence bot, outperformed some Ivy League students at the University of Pennsylvania's Wharton School of Business on a final exam. In a paper titled "Would Chat GPT3 Get a Wharton MBA?", Wharton Professor Christian Terwiesch revealed that the AI system would have earned either a B or B- on the graded final exam.
Wharton is widely regarded as one of the most elite business schools in the world. Its alumni include former President Trump, Robert S. Kapito, the founder and president of BlackRock, Howard Marks, the founder of Oaktree Capital, Elon Musk, billionaire founder of SpaceX and current chief executive officer of Twitter, and others.
"OpenAI’s Chat GPT3 has shown a remarkable ability to automate some of the skills of highly compensated knowledge workers in general and specifically the knowledge workers in the jobs held by MBA graduates including analysts, managers, and consultants," Terwiesch wrote.
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A student leaves the Wharton School of Business on the campus of the University of Pennsylvania in Philadelphia, Pennsylvania, U.S., September 25, 2017. (REUTERS/Charles Mostoller)
In his paper, Terwiesch stated that the AI system "does an amazing job at basic operations management and process analysis questions including those that are based on case studies."
"Not only are the answers correct, but the explanations are excellent," he continued.
Tewiesch did reveal, however, that the AI system made some basic math mistakes that were at a sixth grade level.
"Chat GPT3 at times makes surprising mistakes in relatively simple calculations at the level of 6th grade Math. These mistakes can be massive in magnitude," he wrote.
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ChatGPT3 outperformed some Wharton MBA students on a final exam in an operations course. (iStock)
He also noted that while the AI system did well with more fundamental operations questions, as the content got more complex the machine struggled to achieve high results.
The Wharton Professor noted that these revelations highlight unique challenges and opportunities that come with AI and will require schools to modify their academic policies and curriculums accordingly.
Some industry and tech leaders, such as Elon Musk, have issued strong warnings about the dangers AI pose to human prosperity. In 2017, Musk called for the government to impose more regulations on AI and said the technology is humanity's "biggest risk".
Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington, Monday, March 9, 2020. (AP Photo/Susan Walsh, File)
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In recent years, economists, business leaders, and politicians have offered various projections about how evolving technology will impact the labor market and everyday life. Some view fast-paced advancements as a chance to increase productivity, while others view it as an unchecked threat to people's jobs.
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