In this episode, we dive into all things ChatGPT. ChatGPT is an artificial intelligence chatbot that was dropped in November 2022 and can be found here. As an AI language model, ChatGPT may indirectly affect various industries such as customer service, healthcare, education, and more. Neither of us is an expert in the economics of artificial intelligence, but we have both been in awe of what it does and its potential impacts on society. We chat about the potential benefits and challenges of using AI language models like ChatGPT, including their impact on employment, productivity, and innovation.
In this episode, we:
Discuss some ways we’ve used ChatGPT and ways we see it changing the way people work and, therefore, the economy
Have Chat GPT ask us some questions
Have Chat GPT come up with economic jokes/puns
Share some pop culture clips related to today’s topic
Watch This Episode on YouTube:
Some Show Notes:
Matt’s Dry January is finally over and he can start drinking again! During a quick trip to see some family friends, Matt stopped by a local beer store and picked up a Sci-Fi Hamster Wheel from Thin Man Brewery in Buffalo, NY. Jadrian dug into the back of his fridge to find a Gold Lager from Beale’s Brewery in Bedford, VA. Jadrian also shared his love of the 8th Wonder Brewery in Houston, TX.
Chat GPT could result in a massive shift in the way people work and economists are noticing. Here is a link to all discussions on the Marginal Revolution blog. Most of our chat on this day focused on all the neat things ChatGPT could do to improve people’s productivity, including writing emails and social media posts.
Jadrian is part of a project with Dirk Mateer, Wayne Geerling, and Nikhil Damodaran that looks how at how well ChatGPT did at the Test of Understanding in College Economics, a common assessment that’s used around the country in a lot of economics classes. Spoiler alert: it did really well:
This Week’s Pop Culture References:
Jadrian shared a project that he worked on during the pandemic that includes a lot of references to how automation affects labor markets. Teaching with Superstore is a website that includes scenes and descriptions from Superstore that can be used to learn different economics concepts. One of his favorite scenes is how the employees react when they find out their jobs could be replaced with scanners.
Matt discussed Sunset Boulevard, which was both an acclaimed movie and later a Tony Award-winning musical. That follows Norma Desmond, who was a star in silent movies but suddenly finds herself out of work given she doesn’t have the skill set for talking movies. The song With One Look highlights creative destruction and structural unemployment
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