CONTENTS
Introduction 1
Project concerns/Question 2
Method 3
Findings 4
Patience Ndidiamaka Mahin Mashud Diana M Garkpeh
Agbo
Economics International Enterprise
Development student Economics student at Management student
at UCASS UNIST at Hohai University
Team Leader Core Member Core Member
Introduction
q Economic crises led to uncertain labor markets,
widening disparities between developed and
emerging economies.
q The emergence of innovative technologies brings
about opportunities for job creation in fields that
require human judgment, creativity, and
communication skills.
q The widespread adoption of GPT (Generative Pre-
trained Transformer) models, such as ChatGPT,
presents significant ethical challenges.
Project concerns
• How has GPT technology influenced
the global economy sectors like in
terms of productivity, efficiency, and
innovation?
• What are the socio-economic impacts
of GPT adoption on job roles, skill
requirements, and workforce
structure, across different countries
and regions?
• What policies are being put in place to
handle any issues with job
displacement and skill mismatches,
views on the incorporation of GPT into
workforce practices?
Methods
• Economic Modeling
• Case Studies
• Scenario Analysis
• Labor Market Analysis
Findings
Economic Implications
of GPT
• Sentiment analysis
• Trading strategies
• Risk prediction and management
Findings cont.
• Businesses can benefit from faster decision-making, increased
innovation, and gaining a competitive edge through the use of
GPT’s cognitive velocity. Individuals can also benefit from enhanced
personal efficiency, continuous learning, and collaborative
intelligence.
Innovation and Competitive Advantage of
GPT
• enhance understanding of customer behavior
and resulting in higher ROI
• Technology has automated routine tasks,
freeing up human resources for more complex
and creative endeavors. This shift has led to an
increase in productivity, a key driver of
economic growth.
• GPT fosters divergent thinking and exploration
of new ideas.
Challenges
• Demand significant
computational re-sources to train
and deploy
• Though GPTs are capable of
producing precise predictions,
they can be challenging to
interpret
• GPT in finance sector can be
vulnerable to adversarial attacks.
• Requires large amounts of
training data to achieve high
accuracy
Solutions
• Implement some cloud
services to enhance fraud
detection,
• better portfolio
management decisions, and
increased efficiency
• Effective and secure
deployment of these models
• Skill development.
Policies
• Policies such as progressive
taxation on AI-benefiting firms
and enforcing anti-trust policies,
mitigates income inequality
arising from AI advancements.
Investing in comprehensive
reskilling and up skilling programs
