Lotus 123 to Chat GPT - 5 Lessons from a Killer App of Yesterday to AI Users Today

When they came out in the 1970s and 1980s, spreadsheet programs like Lotus 123 (and its predecessor VisiCalc and successor Excel) were seen as game-changing "killer apps" that revolutionized the way data analysis was done. Many people bought the early personal computers just to run spreadsheets. Since then, spreadsheets have become embedded in the way we work and make decisions.

The splash that Artificial Intelligence (AI) tools like ChatGPT has made recently reminds me of how big spreadsheets were when they came out. For that reason, I think our experience with spreadsheets might offer useful lessons in how a game-changing information technology like ChatGPT can have an impact today. Here are five ways in which spreadsheets changed the way we work, and how those lessons can help us use AI tools like ChatGPT:

1 - Changed / Eliminated / Created Jobs: Spreadsheets have revolutionized the way many jobs are done. Before spreadsheets, scenario analyses and calculations were paper-based and so complex that they took a great deal of time and required a lot of resources. With spreadsheets, analysts could quickly create complex analyses without needing the assistance of an army of typists and technicians with calculators creating paper versions. That created more demand for analysts who could use spreadsheets. It also created a lot more demand for technical people who could gather and store data to use in spreadsheets. It decreased demand for the typists and calculator experts needed to run the paper-based analytical process.

ChatGPT Analogy - ChatGPT and AI tools will likely automate some jobs away like how spreadsheets helped eliminate typists and handheld calculator whizzes. Spreadsheets also created demand for a whole new type of job for analysts who could master them - "quant jocks" or "spreadsheet whizzes." There will be a growing demand for people who learn to become ChatGPT "whizzes" too. AI will also increase the demand for people who can manage data and connect it to AI systems.

2 - Enabled More Complex, Faster Analysis: The speed and flexibility of spreadsheets has made it possible for analysts to create models that can change data inputs to come up with new scenarios and predictions to guide decision-making. For example, in the field of business, spreadsheet software has enabled managers to analyze data on sales, costs, and other factors in order to make more informed decisions about how to grow their companies and profits. The emergence of spreadsheets also made it easier for companies to estimate values of other companies, which could have helped fuel the growth of corporate mergers and acquisitions in the 1980s.

ChatGPT Analogy - It is hard to imagine doing complex analysis today without using a tool like Excel or Google Sheets to help. AI chat tools like ChatGPT will likely be frequently used at work in the future. Some people will master the nuances of forming ChatGPT queries just like some spreadsheet users mastered features like charts, macros, and pivot tables.

3 - Created More Risk of Mistake in Decision Making: While spreadsheets have enabled more complex decision making, they have also created more risk of big mistakes. For example, in finance, errors in the input or formulas entered by users in spreadsheets have led to billions of dollars in losses for financial companies and investors. (Google "London Whale" or "Barings Bank" for examples.) Similarly, in healthcare, errors in spreadsheets have led to serious patient harm. (Google Therac-25 for an example.) These risks are often created by human error, such as inputting the wrong data into a spreadsheet, or using the wrong formulas. The speed and precision of spreadsheets's calculations can create a sense of complacency in their human users who need to make sure the inputs are correct.

ChatGPT Analogy - It is easy to become complacent in accepting the validity of results from ChatGPT too. Information returned can be wrong or inappropriate to use (e.g., private or copyrighted). Users need to be aware and build in processes and use critical thinking to test the validity of the answers it provides.

4 - Created Risk of Data Leaks: Spreadsheets feed on information and sometimes that means they are fed sensitive information, such as financial data, personal information, and confidential business information. When data is taken from its original system that is designed to protect it to sit in a spreadsheet, it can be more easy to access by unauthorized people, creating a risk of data leaks. Google "Cambridge Analytica," "Marriott," or "Yahoo," for examples.

ChatGPT Analogy - Queries made to tools like ChatGPT can tell a lot about what someone is interested in. The results these tools return might include data that is not appropriately labeled for how they can be used. Users should be aware and manage those risks of data leaks.

5 - Made Stakeholders More Demanding: Spreadsheets have made it possible for people to access and analyze large amounts of data, which has in turn made stakeholders more demanding. For example, in business, shareholders and customers now expect companies to have access to real-time data and to be able to make informed decisions based on that data. Investment analysts, for example, can run models to estimate potential earnings of companies and challenge corporate leadership if they sense underperformance. Regulators can use spreadsheets to crunch data too to sharpen their focus.

ChatGPT Analogy - AI will also create a type of information based "arms race." People who do not use it might get challenged by people who do.

In conclusion, spreadsheets like Lotus 123 and AI tools like ChatGPT are very different, but they both qualify as "game-changing technology." It's important for organizations to learn from the opportunities and risks presented from past game changers to shape how they use the game changers of the future.

About the Author of this Article: Victor Prince is the #1 executive coach for financial services executives. He is also an Amazon Top 20 best-selling leadership author who helps organizations build leadership, strategy, communications, and critical thinking skills. Follow Victor on LinkedIN to access his 100+ articles on leadership, strategy, learning & development, and more.?

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