This Indian firm is reimbursing employees for ChatGPT Plus after noticing rise in productivity

An Indian startup is reimbursing employees for ChatGPT Plus (Representational image)

ChatGPT is shortening the gap between imagination and execution, and at least one Indian company is all for it. Bengaluru-based Capitalmind is reimbursing all employees who have subscribed to ChatGPT Plus after noticing an increase in productivity across the board.

Vashistha Iyer, chief operating officer at Capitalmind, tweeted about the ChatGPT Plus reimbursement plan on Wednesday. He said that using the AI chatbot had increased productivity by as much as five times, while also making it possible for everyone to carry out complex analyses.

“This week, we offered to reimburse everyone at @capitalmind_in for ChatGPT Plus subscriptions,” he wrote. “It’s already a 5x productivity booster across the board. Going from a hunch to a complex analysis otherwise impossible without code is now accessible to everyone.”

This week, we offered to reimburse everyone at @capitalmind_in for ChatGPT Plus subscriptions.

It’s already a 5x productivity booster across the board. Going from a hunch to a complex analysis otherwise impossible without code is now accessible to everyone

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— Vashistha Iyer (@uptickr) March 29, 2023

Iyer also predicted that the rise of AI would make most junior analyst roles obsolete over time. “Newcomers will have to learn to leverage AI and build expertise in their fields. There will be no room for mediocrity,” wrote the COO of investment research and wealth management startup Capitalmind.

A recent study from investment bank Goldman Sachs also predicted that the rise of AI would make hundreds of millions of jobs redundant. The report predicted “significant disruption” to the labour market, noting that two-third of jobs in the United States and Europe could be automated to a certain extent.