• Tue. May 30th, 2023

Embracing chatGPT in the economic technologies classroom


May 26, 2023

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ChatGPT has been a subject of fantastic discussion in academia, especially about how to protect against its unauthorized use in classes. Even so, students can advantage from understanding how to use generative artificial intelligence (AI) as a tool to save time and strengthen overall performance on writing assignments.

Craig Hurwitz, an Executive in Residence in the Pratt College of Engineering, asked the graduate students in his “Emerging Trends in Economic Technologies (Fintech)” course to create a very first draft of an essay with ChatGPT’s assist. His functioning assumption was that when students enter the workforce they will have access to, and the capacity to use, generative AI for productivity purposes. He wanted to experiment with ChatGPT in his course to give students a very first-hand appear at how to use generative AI.

For the assignment, the class was instructed to study a case study and each and every student chose a Fintech strategy to assist resolve a specific challenge described in the case. Their written assignment was a 750-word Executive Summary convincing the instructor (playing the part of Venture Capitalist) why he need to take into consideration meeting to go over a prospective investment.

The directions named for each and every student to produce a very first draft applying ChatGPT. Just after producing the draft, they imported the draft into Microsoft Word and turned on “track alterations.” They edited the initial draft and submitted the final draft with “track alterations” nonetheless turned on.

This gave the professor the capacity to see the draft generated by ChatGPT, the alterations that had been produced to that draft, and the final item submitted by each and every student. The variety of unedited final output ranged from about 20 % to more than 90 %. Following the assignment, students completed a survey about their experiences on the assignment. This post summarizes the student reactions to applying ChatGPT.

AI as a operate ability

Students viewed this assignment as vital education given that they anticipate that they will be applying AI in the workplace. There had been several comments about how this assignment was a mastering chance on how to use an AI chatbot efficiently and how this is going to be a useful ability when they graduate and take on complete-time roles in the workforce.

As a single student explained, “I definitely enjoyed functioning on this assignment. I think what you let us do is what will occur in true life. Finishing this assignment is fantastic practice for us to use AI to strengthen our operate.”

1 particular ability the students gained is how to create successful prompts in ChatGPT. Several students realized that creating an acceptable prompt is an iterative method and is the crucial to a effective knowledge. Nearly all students embarked on this exercising with an try to use a single prompt to produce the complete essay.

Even so, most students located that the output was also basic, and in most instances, also repetitive. The most frequent reaction to this was to submit to ChatGPT particular comply with-up concerns applying descriptive, succinct text made to produce output for a specific paragraph, or far more especially, a bullet point.

Quite a few students commented on the significance of education ChatGPT to take on a specific part prior to the method of prompting it to create any written output. “I’d location far more emphasis on education the AI to adopt a specific persona, as an alternative of spending a lot of time attempting to figure out the proper prompt,” a single student commented in the post-assignment survey.

Writing efficiency

Every single student claimed that applying an AI chatbot to assist create a very first draft was beneficial. Ninety % of students mentioned that applying an AI chatbot was a time saver. 1 student remarked, “For each and every minute you devote on ChatGPT you are saving ten minutes, but be confident to give the AI the precise details you want it to operate with and the threat of blunders is minimal.”

Twenty-a single out of 36 students in the class who speak English as a second language felt a different advantage. Every single a single of them indicated that they currently had knowledge applying ChatGPT just before this assignment. A frequent refrain was that applying an AI chatbot helped them create as if English had been their native language. Even so, as a single student cautioned, “The grammar the AI made use of was fantastic, but I located the language to be vague and unsophisticated.” This comment points to students’ basic understanding of ChatGPT’s limitations.


Although students located ChatGPT helpful, there was substantial commentary about limitations of this generation of the technologies. Limitations normally fell into a single of 3 categories: 1) incorrect sources, two) outdated sources, and three) the output only getting as fantastic as the prompt. “I located that ChatGPT generated details that was right, but with incorrect citation,” a single student noted.

More than half of the class located that ChatGPT generated incorrect details and only two of 36 expressed self-assurance in the sources cited by ChatGPT. Students understood reality-checking is an important element of applying ChatGPT for writing, given that supply integrity is a major concern. In addition, given that the students’ assignment was to highlight emerging trends in Fintech, they could not rely on ChatGPT’s older information (Sept 2021).

Note that students made use of the GPT-three.five model for this AI-assignment that was just before GPT-four. was released, when the capacity to cite sources enhanced somewhat, but relying on the sources supplied by GPT remains problematic.

Several students commented that they enjoyed functioning on the assignment, but they are conscious of the ethical considerations such as intellectual house, and appreciated that guardrails are essential. Students understood applying ChatGPT can only be a single step in the writing method. “The bot should not be made use of as a final response, but merely as a way to recognize a subject or brainstorm concepts. ChatGPT’s capacity to synthesize sources and condense details is fantastic, but should not replace our personal filters and capacity to do that identical job ourselves.”


Generative AI capabilities are advancing promptly. It is a productivity tool that will probably obtain vast acceptance and usage in the workforce. Education students how to use the technologies appropriately and efficiently is an vital life ability. To these worried about no matter whether the output generated by ChatGPT is the operate of the tool or the student, there is no substitute for carrying out the fundamental investigation, possessing a clear understanding of what it is that you want to communicate, and being aware of, in advance, the written structure you anticipate to get from ChatGPT.

From the viewpoint of a professor who spent most of his profession in market, it was rewarding to see how promptly students adapted to the technologies and optimized it, and how this led to essays developed far more effectively, and in several instances, of greater top quality than they may have otherwise accomplished.