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Davos 2023: CEOs buzz about ChatGPT-style AI at World Economic Forum

By Jeffrey Dastin DAVOS, Switzerland (Reuters) - Business titans trudging through Alpine snow can't stop talking about a chatbot from San Francisco. Generative artificial...
Davos 2023: CEOs buzz about ChatGPT-style AI at World Economic Forum © Reuters. People walk past the logo of the World Economic Forum (WEF) 2023 at Davos Congress Centre in the Alpine resort of Davos, Switzerland, January 15, 2023. REUTERS/Arnd Wiegmann
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By Jeffrey Dastin

DAVOS, Switzerland (Reuters) - Business titans trudging through Alpine snow can't stop talking about a chatbot from San Francisco.

Generative artificial intelligence, tech that can invent virtually any content someone can think up and type into a text box, is garnering not just venture investment in Silicon Valley but interest in Davos at the World Economic Forum's annual meeting this week.

Defining the category is ChatGPT, a chatbot that the startup called OpenAI released in November. The tech works by learning from vast amounts of data how to answer any prompt by a user in a human-like way, offering information like a search engine would or prose like an aspiring novelist.

Executives have floated wide-ranging applications for the nascent technology, from use as a programming assistant to a step forward in the global race for AI and military supremacy.

Conference goers with a major stake in the tech's development include Microsoft Corp (NASDAQ:MSFT), whose chief executive, Satya Nadella, is taking the stage at Davos Tuesday and Wednesday.

Microsoft has a $1 billion investment in San Francisco-based OpenAI that it has looked at increasing, Reuters has reported. In an announcement that coincided with the conference, Microsoft said it plans to market ChatGPT to its cloud-computing customers.

Later on Tuesday, the political sphere gets to weigh in on the craze. French politician Jean-Noël Barrot planned to join a panel discussion with a Sony (NYSE:SONY) Group Corp executive on the technology's impact.

Matthew Prince, CEO of Cloudflare (NYSE:NET) Inc, a company that defends websites against cyber attacks and offers other cloud services, sees generative AI as good enough to be a junior programmer or a "really good thought partner."

In an interview, Prince said Cloudflare was using such technology to write code on its Workers platform. Cloudflare is also exploring how such tech can answer inquiries faster for its free-tier customers as well, he said on the annual meeting's sidelines.

Alex Karp, CEO of Palantir Technologies (NYSE:PLTR) Inc, a software provider helping governments visualize an army's movements or enterprises vet their supply chains, among other tasks, said such AI could have military applications.

Karp told Reuters in Davos, "The idea that an autonomous thing could generate results is basically obviously useful for war."

The country that advances the fastest in AI capabilities is "going to define the law of the land," Karp said, adding that it was worth asking how tech would play a role in any conflict with China.

Businesses including CarMax Inc (NYSE:KMX) have already used Microsoft and OpenAI's tech, such as to generate thousands of customer review summaries when marketing used vehicles. Proposed venture-capital investment has also exceeded what some startups want to take.

Such buzz carried through gatherings at Davos, like talk about a slide-generating bot dubbed ChatBCG after the management consulting firm. The service said on its website that it had too much demand to keep operating.

Generative AI is "a game-changer that society and industry need to be ready for," stated an article on the World Economic Forum's website.

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27-02-2024 18:27:03 (UTC+7)

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    EUR/USD 1.0853 Sell  
    GBP/USD 1.2687 Neutral  
    USD/JPY 150.37 ↑ Buy  
    AUD/USD 0.6546 ↑ Sell  
    USD/CAD 1.3495 ↑ Buy  
    EUR/JPY 163.19 ↑ Buy  
    EUR/CHF 0.9555 ↑ Buy  
    Gold 2,045.15 ↑ Sell  
    Silver 22.828 ↑ Sell  
    Copper 3.8528 Sell  
    Crude Oil WTI 77.28 Buy  
    Brent Oil 81.33 Buy  
    Natural Gas 1.728 Neutral  
    US Coffee C 178.83 Buy  
    Euro Stoxx 50 4,877.25 ↑ Sell  
    S&P 500 5,069.53 ↑ Sell  
    DAX 17,495.45 ↑ Sell  
    FTSE 100 7,678.40 ↑ Sell  
    Hang Seng 16,790.80 Neutral  
    Small Cap 2000 2,028.97 ↑ Sell  
    IBEX 35 10,078.80 Neutral  
    BASF 46.975 ↑ Buy  
    Bayer 28.84 ↑ Buy  
    Allianz 245.43 Neutral  
    Adidas 188.30 ↑ Buy  
    Lufthansa 7.293 ↑ Sell  
    Siemens AG 176.29 ↑ Sell  
    Deutsche Bank AG 12.247 Neutral  
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SJC Eximbank7,700/ 7,850
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