On 12 May, Nithin Kamath, founder and CEO of Zerodha, India's largest stock brokerage firm, made an unsettling disclosure. "It took us 30 mins to integrate commoditized ChatGPT, see tangible benefits, and realize that more than 20% of jobs could be automated. Now, imagine what more intelligent tools could lead to?" he tweeted.
ChatGPT is an artificial intelligence (AI)-powered chatbot developed by OpenAI and was first launched in November 2022.
Aware of the anxiety that such a statement could cause among his employees, Kamath was quick to add that as per Zerodha's new internal AI policy, "we will not fire anyone on the team just because we have implemented a new piece of technology that makes an earlier job redundant."
The tweet went viral but it also spread some comfort to those fearing job losses from the rapid march of generative Alalgorithms that can create various types of content, be it text or image.
About two months later, on 10 July, Suumit Shah, the chief executive officer (CEO) and co-founder of Dukaan, a Bengaluru-based ecommerce platform for small businesses, made a similar announcement. This time, however, there was a sting in the tweet. Shah announced that he had to "layoff 90% of our support team because of this Al chatbot". He cited three reasons for his "tough" but "necessary" step to become a profitable startup. First, the call response time (how quickly an agent responds, typically in a customer service centre) with the Al chatbot had dropped from one minute to 44 seconds. Second, the resolution time fell dramatically from 2.13 hours to just 3.12 minutes. Effectively, he claimed to have saved 85% in customer support costs.
Esta historia es de la edición August 14, 2023 de Mint Mumbai.
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