An artificial Intelligence (AI) tool has successfully passed an exam at Wharton Business School, according to a new research paper from the university.
The technology is a chatbot, a “software that simulates human-like conversations with users via chat,” as defined by ChatBot.com. This technology is primarily used on businesses’ websites “to answer user questions with instant messages.”
In a research study titled Would ChatGPT get a Wharton Business Degree, professor Christian Terwiesch found that the AI, called ChatGPT, “has shown a remarkable ability to automate some of the skills of highly compensated knowledge workers,” specifically MBA graduates who work as managers, consultants, and analysts.
The chatbot did “an amazing job” on the final exam for Operations Management, a core course of study in Wharton’s MBA program, giving correct answers that were “excellent” in their explanations, according to the report.
“ChatGPT3 is remarkably good at modifying its answers in response to human hints. In other words, in the instances where it initially failed to match the problem with the right solution method, Chat GPT3 was able to correct itself after receiving an appropriate hint from a human expert. Considering this performance, Chat GPT3 would have received a B to B- grade on the exam,” the study found.
Terwiesch noted that the current iteration of ChatGPT could be better, as it made mistakes in simple mathematical calculations and could not tackle more advanced process analysis questions. Still, the fourth version is coming, and will reportedly be a lot smarter than its predecessor.
The “GPT” in the AI software’s name stands for Generative Pre-trained Transformer. It is a language processing system developed by OpenAI to achieve human-like conversation through artificial intelligence, according to The Hill.
Wharton MBA’s rigorous test was just one of many that ChatGPT has taken. The chatbot can also pass several components of the Multi-state Bar Exam (MBE) and the United States Medical Licensing Exam (USMLE).
On the USMLE, a required three-part exam for all medical school graduates, researchers found ChatGPT performed at or near the passing threshold for all three components.
Alex Tabarrok, an economics professor at George Mason University (GMU), tested ChatGPT on a GMU law and economics exam.
Tabarrok said that the AI tool managed to earn a “marginal pass.”
OpenAI recently received a $10 billion investment from Microsoft. Several reports have indicated that Microsoft will incorporate Chat GPT in its Bing search engine in the future.
