BlackRock’s ChatGPT Experiment Highlights AI’s Potential

BlackRock used ChatGPT to write a strategy memo, and employees couldn't tell it was AI-generated.

  • BlackRock used ChatGPT to write a strategy memo, and employees couldn’t tell it was AI-generated.
  • COO Robert Goldstein revealed this during the Future of Finance conference.
  • The experiment shows BlackRock’s confidence in AI’s potential to boost productivity.

BlackRock, the world’s largest asset manager, recently demonstrated the power of artificial intelligence (AI) in a fascinating experiment. COO Robert Goldstein revealed that a strategy memo written by ChatGPT, an AI chatbot, was presented to employees who didn’t realize it was AI-generated.

Goldstein shared this story at the Future of Finance conference in New York, explaining how the team tasked ChatGPT with drafting an executive summary for a board meeting. The memo received typical feedback on tone and content from employees, none of whom suspected it was created by a computer.

This experiment highlights BlackRock’s strong belief in AI’s ability to enhance productivity. CEO Larry Fink has previously stated that AI investments could lead to higher productivity and wages, helping employees achieve more with fewer resources.

However, concerns remain about AI’s impact on jobs. IMF Managing Director Kristalina Georgieva has warned about potential job displacement due to AI, emphasizing the need for proactive measures to manage its risks and benefits.