Revolutionary artificial intelligence or rogue technology? The promises and pitfalls of ChatGPT

Abstract

Objective: The objective of the article is to offer a thorough exploration and comprehension of the obstacles and potential advantages linked to the application of generative artificial intelligence (GAI) in the business realm, particularly emphasizing ChatGPT.

Research Design & Methods: The research utilized a narrative and critical examination of existing literature and constructed a conceptual framework grounded in prior studies. Our theoretical framework was developed through a deductive reasoning approach to ensure the logical and effective organization of the study. Consequently, this work should be considered a conceptual article that sheds light on one hand on the promises and opportunities, and on the other hand on the controversies and risks associated with generative artificial intelligence in the fields of management and economics, using ChatGPT as a specific case study.

Findings: In recent years, artificial intelligence has experienced rapid progress, leading to its widespread applications. The chatbot industry, exemplified by ChatGPT, has garnered considerable attention, with experts and researchers asserting that generative artificial intelligence and ChatGPT could transform our work routines and daily existence. Although these technologies have the potential to revolutionize data analysis and report generation, concerns have been raised about their societal impacts, particularly in areas such as ethics, privacy, and security.

Implications & Recommendations: The regulation of the GAI market is imperative to ensure fairness, competitive balance, and safeguard intellectual property and privacy while addressing potential geopolitical risks. With the evolving job landscape, individuals must continuously acquire new digital skills through education, particularly in response to the growing prominence of AI system training. Ethical considerations, such as prioritizing user privacy and security, are crucial for GAI developers to mitigate risks related to personal data violation and social surveillance, emphasizing responsible AI practices and adherence to ethical guidelines to prevent social manipulation and maintain goodwill.

Contribution & Value Added: The article structures scientific knowledge on the advantages and drawbacks of the generative artificial intelligence in business. The articles attempted to put together the main aspects of this new phenomenon.

Keywords

artificial intelligence (AI), generative artificial intelligence (GAI), ChatGPT, technology adoption, digital transformation, OpenAI, chatbots

Author Biography

Marek Sieja

Assistant professor at Cracow University of Technology, the Department of Automation and Computer Science at the Faculty of Electrical and Computer Engineering. He received his PhD in electrotechnics in 2016. His research interests include genetic algorithms and electrical metrology.

Krzysztof Wach

Full Professor at Krakow University of Economics (Poland). Professor of social sciences (2020), Post-Doc De-gree of Habilitated Doctor (dr hab.) in economics (2013), PhD in Management (2006). Member of the Com-mission for Economic Sciences of the Polish Academy of Sciences (PAN). Member of the Commission for Eco-nomic Sciences of the Polish Academy of Arts and Sciences (PAU). Member of the Commission for Organiza-tion and Management of the Polish Academy of Sciences (PAN) – Branch in Kraków. He serves on the editori-al boards of international journals as an editor, including ‘European Journal of International Management’ (SSCI WoS), ‘Sustainable Technology and Entrepreneurship’ (Elsevier), ‘Central European Management Jour-nal’ (Emerald), ‘International Journal of Multinational Corporation Strategy’ (Inderscience), ‘Entrepreneurial Business and Economics Review’ (ESCI/Scopus). He has published over 240 peer-reviewed publications (in-cluding 126 journal articles, 100 chapters and 17 books), and 19 edited volumes. His research interests in-clude entrepreneurship, international business, innovation, and family firms.

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