GPT-4 makes data analysis work cost only 1% of what it would cost to do it manually.

The cost of GPT-4, the latest version of LLM developed by the startup OpenAI, is only 0.45% of the cost of hiring a senior data analyst—who earns around $90,000 annually—or 0.71% of that of an average analyst, according to researchers from the Chinese company Alibaba.

The ChatGPT study sheds light on the cost of data analytics. Photo: Shutterstock

In this study, researchers posed questions and provided data, then automated the entire data analysis process using GPT-4 to extract and analyze the data, subsequently generating insights and graphs. The analysis results were compared to those of professional human data analysts in terms of performance, time, and cost.

According to the research results, tests showed that GPT-4 is not only significantly cheaper than a human data analyst but also completes tasks much faster. However, the study notes that more research is needed before concluding that GPT-4 can replace human data analysts.

According to the research, in some cases, AI models have surpassed human data analysts in the accuracy of metrics and analyses, and the insights generated by GPT-4 tend to be more complex.

However, GPT-4 falls short of humans in terms of accurately displaying data in charts, as well as presentation and formatting in some cases. Research indicates that despite some errors with certain metrics, GPT-4 can still produce accurate analyses.

Research sheds light on the expanding application of LLMs across various industries, where it is expected to improve efficiency but also threaten human jobs. Chinese technology companies are racing to develop their own ChatGPT-like services.

Alibaba is working on its own solution called Tongyi Qianwen, which launched in April and is currently available to enterprise customers by invitation, weeks after Baidu announced its Ernie Bot service.

Mai Vân (according to SCMP)

Source: https://www.congluan.vn/voi-ai-cong-viec-phan-tich-du-lieu-chi-ton-chua-den-1-phi-thue-con-nguoi-post249674.html