Employing ChatGPT for the Management of Businesses and Decision Making in the Era of AI

Abstract

Nowadays, discussions in the academic world and the media have focused on the potential advantages and disadvantages of ChatGPT and its variations that employ generative artificial intelligence models on their potential impacts on the economy, democracy, society, and environment. It is yet unknown if these technologies lead to job growth or job displacement, or if they merely budge human labor by producing new knowledge and judgments that may be insignificant or practically irrelevant. With the release of ChatGPT, the market for generative AI tools has seen a surge in the development of more powerful and sophisticated tools. This “AI arms race” has widened the range of business applications and raised risks related to security, privacy, bias, and other ethical dilemmas. In light of these advancements, the study provides a range of viewpoints and potential lines of inquiry to further business studies in the field of generative AI.

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