ChatGPT, the breakthrough open-source language model technology developed by AI researchers at Microsoft Research, has done it again! For the first time, a machine learning system has passed an MBA entrance exam given by a professor at the prestigious Wharton School of Business – marking yet another milestone in artificial intelligence (AI) advancement. Read on to learn more about this achievement and how ChatGPT made it possible!
A professor at the University of Pennsylvania’s Wharton School has conducted a study that revealed that GPT-3, an AI-driven chatbot, successfully passed the final examination for their Master of Business Administration (MBA) program.
Professor Christian Terwiesch, who authored the research paper “Would Chat GPT3 Get a Wharton MBA? A Prediction Based on Its Performance in the Operations Management Course,” said that the bot scored between a B- and B on the exam.
The bot’s score, Terwiesch wrote, shows its “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.”
The professor went on to say:
The bot did an “amazing job at basic operations management and process analysis questions including those that are based on case studies,” Terwiesch wrote in the paper published on Jan. 17. He also said the bot’s explanations were “excellent.”
“Remarkably good at modifying its answers in response to human hints.”
Educators have long been concerned that AI chatbots could be utilized for unethical purposes, and this has proven to be the case, according to Terwiesch’s findings. Despite having existed for quite a while, ChatGPT caused considerable interest on social media platforms in late 2022.
Last month, the Department of Education in New York City banned ChatGPT from its educational institutions’ systems and networks.
The talk usually centers on ChatGPT’s capability to converse in a convincing, conversational manner and its aptitude to generate responses related to the topic that are virtually indistinguishable from those created by people.
Much contention has arisen among specialists in the area as they attempt to differentiate between conversations made by humans naturally and those generated by machines.
Experts in AI and education recognize that ChatGPT bots could be detrimental to learning in the future. However, some educators and specialists interviewed recently were not overly concerned – for the time being.
The AI startup OpenAI, responsible for the bot in question, declined to comment when asked. They have yet to make any further announcements regarding this project and are keeping quiet about it.
The ChatGPT bot, a cause of debate among teachers and those involved in AI, is the latest model derived from the GPT-3.5 series as indicated on OpenAI’s website; it is an evolved form of the GPT-3 model used in the experiment.
Professor goes on to say:
“At times it makes surprising mistakes in relatively simple calculations at the level of 6th grade Math.”
The present version of Chat GPT is “not capable of handling more advanced process analysis questions, even when they are based on fairly standard templates,”
“This includes process flows with multiple products and problems with stochastic effects such as demand variability.
The professor added:
“Important implications for business school education, including the need for exam policies, curriculum design focusing on collaboration between human and AI, opportunities to simulate real world decision making processes, the need to teach creative problem solving, improved teaching productivity, and more.”
Terwiesch said to NBC News that he is now very conscious of the controversy sparked by the chatbot and the resulting discussion about if it should be outlawed.
He is confident that it is possible to integrate education and artificial intelligence to improve the learning experience for his pupils.
“I think the technology can engage students in other forms others than the good old, ‘write a five-page essay,'” “But that is up to us as educators to reimagine education and find other ways of engaging the students.”
Recent news that the machine could pass an MBA exam administered by a Wharton professor proves that this technology is advancing rapidly and could soon be used for more complex tasks such as financial analysis and strategic planning. As chatbots become more intelligent, they will open up new possibilities for businesses and organizations that can utilize them to improve efficiency and accuracy.
Source: NBC News