Amir Korangy: ChatGPT is something to lose sleep over

"Writing is on the wall" for some professionals, office market investors

<strong>Amir Korangy</strong><em>Publisher</em>
Amir KorangyPublisher

Most of the downsides discussed about ChatGPT center around things like students taking advantage of the artificial intelligence bot to write their assignments or professional writers using it to cut corners.

But Amir Korangy, founder and publisher of The Real Deal, says ChatGPT has the ability to wipe out entire job classes, which should be particularly unnerving not only for those employees, but also office space investors and owners, Benzinga reported.

“They’re making decisions like they should only be worried about dealing with the pandemic and distributed work. What they should be paying attention to is the impact that ChatGPT will have on their tenants, and they’re not,” Korangy told the outlet.

With the office market already in flux due to remote work and higher interest rates, ChatGPT could deal an economic knockout blow for some sectors in the economy. 

“If you look at the legal and accounting professions alone, those are major tenants of office space, and with ChatGPT, you won’t need space for 3,000 people when you only require 300 to do the work,” Korangy told Benzinga. “Unless I’m totally missing something here, the writing is on the wall. Since ChatGPT debuted in November, there hasn’t been a night I’ve not gone to sleep thinking about it.”

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In real estate, ChatGPT — released in November — has already been a boon to some agents who are already using it to write listings, social media posts and video scripts. It wrote this mock listing. Commercial brokers are taking advantage of the bot to do research on properties, leveling the playing field to the point where “everybody can be a super broker.”

But Korangy says people who work as marketing and public relations professionals, coders, programmers and designers, should be worried.

Very worried.

“This reminds me of when that machine (Deep Blue) beat (Garry) Kasparov in chess,” he told the outlet.

— Ted Glanzer

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