ChatGPT and generative AI: Unpacking the rise, impact, and future

Six months have passed since the introduction of ChatGPT, OpenAI's chatbot based on the GPT-3.5 language model. Since its inception, there has been a whirlwind of events, product launches, and discussions revolving around AI.

Recently, tech giants like OpenAI, Google, and Meta have unveiled new products, while OpenAI's CEO spoke before the US Congress. The G7 has also called for stricter guidelines on AI.

There's a spectrum of opinions about ChatGPT's technology, with some believing it shows glimpses of Artificial General Intelligence and others viewing it as merely a sophisticated parrot. Regardless, it's crucial to understand its mechanics and implications.

This report from Deutsche Bank is designed to provide a comprehensive overview of generative AI, discussing its nature, functioning, applications, and its potential impacts on employment, the economy, and society. This piece begins a broader series delving deeper into the subject. Reflecting on the technological influence, Amara's Law suggests that we may overstate the immediate effects of ChatGPT but could be underestimating its long-term impact.

Read the report here.