Startup acceleration policies needed in global ChatGPT competition: Samil PwC report

gettyimagesbank

By Anna J. Park

While the latest technology of ChatGPT is sending global shockwaves through industries, a report published by Samil PwC on Tuesday urges the government to come up with systemic startup incubation and acceleration programs and support policies to secure artificial intelligence (AI) technologies.

The report, titled “Is ChatCPT an opportunity or threat?” stressed that the natural language-processing technology will fundamentally alter the production of global industries, while accelerating similar AI-based technologies.

Among others, the content and IT sectors are expected to be the most influenced by AI innovation, while the impact would be felt in almost every industry, ranging from advertising, media and semiconductors to cybersecurity.

“As ChatGPT is able to create based on big data-based machine learning capabilities, it will be a game changer of productivity in countless industry sectors,” said Lee Do-shin, a partner at Samil PwC who leads the firm's unicorn platform department, adding that domestic AI technologies lag far behind those of the leading countries in the AI field, like the U.S. and the U.K.

Lee advised the government to strengthen mutual cooperation among local AI-focused startups, while drawing up measures to systemically support these companies, if Korea aims to further promote its AI competitiveness.

The report also highlights that the development of a ChatGPT program capable of operating in the Korean language is one of the priorities facing local businesses. It also points out that the AI program still has shortcomings, particularly in the accuracy of its data.

“ChatGPT has proven its creative capabilities, which is an intellectual performance beyond simple labor, and it is expected to replace a significant portion of knowledge-based industries,” the report stressed. “With its vast impacts in business and social environments, the government should come up with appropriate measures.”