Real AI: MBAs vs. ChatGPT, NYT and DALL-E 3, and Crazy-Scary Deepfakes

Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate.

Innovation Challenge: MBA students vs. ChatGPT – Who wins?

The Wall Street Journal earlier this month featured a terrific story by Christian Terwiesch and Karl Urich, testing how good AI is at creating new ideas. Terwiesch and Ulrich are professors of operations, information and decisions at the Wharton School of the University of Pennsylvania.

Their hypothesis: that when it comes to "identifying opportunities for new ventures, generating a solution for an unmet need, or naming a new company," these unstructured tasks appear to be "ill-suited for algorithms." However, they now argue that large language models like ChatGPT are proving these assumptions wrong.

They discovered this by creating a competition, randomly polling 200 Wharton graduate students to determine, "Who is better at generating innovative ideas: the human or the machine?"

Describing the process of how they determined the quality of the ideas submitted by both students and the 100 ideas created by ChatGPT, they came to a solid conclusion, and it wasn't even close.

They write: "ChatGPT isn't only faster but also on average better at idea generation" by a margin of victory that was 35-5, machine over human.

I've often described ChatGPT as one of the best ideation, top iteration, and most accessible brainstorming tools I have ever used. Now, thanks to these Wharton professors, there is research to back it up.

OpenAI launches DALL-E 3

ChatGPT's cousin, DALL-E 3, the OpenAI tool that creates images from text prompts, started previewing this week. Unfortunately, it is currently limited to a very small test group.

But if you read this in the New York Times, you'd think you can use it now: but you can't!

The Times (irresponsibly) writes, "DALL-E and ChatGPT were previously separate applications. But with the latest release, people can now use ChatGPT's service to produce digital images simply by describing what they want to see. Or they can create images using descriptions generated by the chatbot, further automating the generation of graphics, art and other media."

That may be coming, but it is NOT available to most ChatGPT 4 subscribers. I know this because ChatGPT 4 told me when I asked it to create an image.

ChatGPT 4 responded: "I'm currently not able to create or manipulate images or photos. However, you can create this picture using graphic design software like Adobe Photoshop or Illustrator. Here's a simple guide on how you might approach creating such an image," and then gave me instructions on how to use Photoshop (not kidding).

DALL-E 3, again not yet available to the masses, is designed to better understand user commands to render images. It also is supposed to improve its ability to include legible text in images, one of its well-known weaknesses, apparently common with AI image generators.

These planned improvements are needed. Using DALL-E now can be hit or miss. Sometimes the images are masterful, sometimes they are less than amateurish. This wide range of performance issues are limiting its potential, so hopefully, the new DALL-E 3 will be rolled out to all ChatGPT users and embedded as described by the Times, soon.

Examples of the hit-or-miss nature of DALL-E today:

Headlines: AI Take 5

3 AI Prompts That Really Work for Real Estate Agents | Tech Helpline (Florida Realtors) - 9/19/23
Teach ChatGPT to write like you, organize your input with columns, create stock photos

Amazon unveils a 'smarter' Alexa. Its AI has a lot of work to do | The Washington Post - 9/20/23
Not ready for prime time, according to the Post, noting Alexa 2.0 kept providing the wrong answers.

Highlights From The AI Insight Forum Exploring AI Regulation | Search Engine Journal - 9/14/23
Top tech CEOs met with US Senators in Washington, D.C. at an AI Insight Forum

Artificial Intelligence And The Boardroom: Immediate Actions Items | Forbes - 9/20/23
Lots of advice, including "boards must be realistic, practical, and cautious when it comes to AI. Proceed with caution, but proceed!"

How to Use Google Bard AI: 10 Ways It Can Make Your Life Easier | PCMag - 8/13/23
Bard's best new feature is the integration with Google search to fact check with one click!

Video Bonus: 21 of the best deepfake examples that terrified and amused the internet | Creative Bloq - 9/11/23

Quote of the week

To view the original article, visit the WAV Group blog.