👨‍🏫 Tips for preparing for GPT-5

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• 😶‍🌫️AI hype reality check

• 💸Generative AI to contribute trillions annually in productivity

• 👨‍🏫 Tips for preparing your business for GPT-5

AI tools like ChatGPT are hyped but underused among public, study finds 

🥸Context of the news - Generative AI gained widespread attention with the launch of ChatGPT in November 2022, prompting a major competition among tech companies to develop similar technologies. Despite the billions invested, new research indicates that generative AI has not yet become a part of people's daily internet use.

😲News - The study by the Reuters Institute and Oxford University suggests that very few people regularly use "much hyped" AI products like ChatGPT.  

Among 12,000 respondents from six countries, only 2% of British participants reported daily use. However, young people aged 18 to 24 are the most eager to adopt this technology.

Dr. Richard Fletcher, the report's lead author, noted a "mismatch" between the hype surrounding AI and actual public interest in it. He stated that a significant portion of the public isn't very interested in generative AI, with 30% of people in the UK unaware of popular tools like ChatGPT.

☕What's more? The new generation of AI products has also sparked a heated debate about their potential impact. Optimists predict benefits like economic growth and new life-saving drugs, while pessimists view the technology as a potential threat to humanity. The research aimed to gauge public opinion, revealing that:

• Most expect generative AI to significantly impact society, especially in news, media, and science, within the next five years.

• Many believe generative AI will improve their personal lives.

• Opinions on whether generative AI will benefit society as a whole are generally more pessimistic.

Gen AI can potentially add up to $4.4T to global economy, report finds

🤯News - According to a report by global consulting firm McKinsey & Company, the generative artificial intelligence sector could contribute an annual value of $2.6 trillion to $4.4 trillion in the near future.

The report's basis for its economic projections comes from two analyses: one assessing AI's impact on over 800 job types and the other examining how AI can benefit organizations in various use cases.

🕵️‍♂️What were the key findings?

• The report anticipates that between 2030 and 2060, AI tools, particularly generative AI tools like ChatGPT, are expected to automate almost all forms of work.

• The adoption of automation is projected to occur more rapidly in wealthier nations, driven by higher wages that make it economically viable in the short term. On the other hand, lower-wage countries like China, India, and Mexico are anticipated to embrace automation at a slower pace in comparison to higher-wage countries such as the United States and Germany.

• Contrary to popular belief, the report highlights that AI is expected to have a more significant impact on higher-wage workers that often take care of more complex tasks, rather than solely replacing lower-level workers that perform repetitive tasks.

• The report also found that Generative AI is expected to have the most significant impact on knowledge work, specifically in decision-making and collaboration tasks, which were traditionally less prone to automation.

Tips for preparing your business for GPT-5 

As we discussed yesterday, we think GPT-5 is coming sooner than most anticipate.

As soon as it gets released, things will snowball quickly. Processes will be out of date, teams will need to be re-educated, and new tools will be released opening the door to new opportunities.

So internally we’ve already started to prepare our teams, systems, and clients for GPT-5 (or whichever major LLM gets the next upgrade) and I wanted to share 3 things we’re doing to make sure our business and our clients are ready.

1. Audit existing processes & tech.

   In order to automate, you need to know what actually is happening. You’d be shocked how many businesses I look at that don’t have standard operating procedures in place for their core activities.

   You don’t have to get fancy. Get out a pen and paper or your favourite flow-chart software (mine is google slides) and make sure you understand the workflows of the core functions of your business.

   A great example of this is customer support. How do customers contact you? Where does this go? Who’s in charge of response? How fast is the response getting sent? Do you have ticketing setup? If so, what are those key metrics? What technology is currently used?

   All of my businesses and clients have living documents outlining our core workflows.

   This is critical, because when something new is released, I have a “map” of the entire business that I can refer to which will show me the value of implementing new technology.

2. Understand how your team is using AI today

   Is your team trained to use AI tools relevant to their job function? Are they trained to use ChatGPT/Gemini/Claude/Midjourney?

   Have you setup your team to use Chat LLMs within your company’s data security policies?

   Every industry is different and will use LLMs differently. Make sure that your team is sharing tricks across the entire organization!

   Here’s a trick I use - in your next group meeting, have everyone pull up their chat history, and ask for 1 or 2 ways that they’ve used AI in the past few weeks that may be relevant to the team.

   If your team uses LLMs consistently, add it to the documentation so that when a huge upgrade comes out, you’re ready to adopt the technology and make your team more efficient immediately.

3. Get your money’s worth out of your existing tech

   I’ve said it before and I’ll say it again. DOCUMENT your tech stack.

   This doesn’t just go for custom technology stacks - I’m talking about accounting software, marketing scheduling, ERP systems, etc.

   Once you have this documented AND your workflows documented (see step 1), you can go through no-code connector apps like Zapier to see what you can do today to integrate these and streamline your existing workflows.

   If you have a developer, this is even easier because they can go through and connect the APIs of your products to streamline your teams’ workflows.

   AI advancements allow for data to be moved around in new ways, more reliably. Today you might have to have a bookkeeper, tomorrow you might be able to hire an AI agent directly in your Quickbooks subscription to handle it automagically.

We help businesses with AI corporate training and custom AI workflow implementation. If you’d like training or a free audit of how you can use AI in your business - reach out to [email protected]

Tools

Hotjar AI - A tool that helps website owners understand user behavior and optimize their websites ($32/ month)

AlphaResearch - A  platform that helps investors extract information from unstructured texts, filings, earnings call transcripts, and more ($49.9/month)

Scite - An AI-driven research tool that assists users in finding reliable information from millions of research articles ($20/month) 

Peachly AI - An AI solution for creating, targeting and optimizing Facebook, Instagram and Google ads ($29/week)

Daydrm.ai - An AI-powered tool that helps creatives and agencies generate strategic briefs and creative concepts for advertising campaigns (19/month)

Wirestock AI - A bot that allows users to generate, upscale, and sell AI images directly on Discord ($7.79/month)

Dr. Lambda - Allows users to transform PDFs, webpages, and YouTube content into professional and interactive slides ($9.9/month)

Shiken - A learning app that combines AI tutoring, quizzes, mindfulness, and game design to help learners retain information for longer ($10/month)

MealByMeal - A nutrition tracking tool that helps users log their meals, track their weight, and monitor their calorie and macro intake ($7/month)

🐦AI Twitter influencers

Andrej Karpathy - Andrej led Tesla's Autopilot's computer vision system, was on the founding team of OpenAI, and is an established AI educator. His account offers a deep dive into AI technology, providing accessible explanations of complex AI concepts.

Jeremy Howard - Practical AI isn't just jargon for this co-founder. Howard is dedicated to making AI education accessible. If you're someone who learns best by doing, you'll appreciate Howard's practical lessons, project tips, and his commitment to expanding AI skills to a wider audience.

Demis Hassabis - Chess prodigy turned neuroscientist and founder of DeepMind, the groundbreaking AI company now owned by Google. If you want a glimpse into the cutting-edge work pushing AI boundaries, Hassabis' account is a must.