Everyone is obsessed with this new bot in town. Yes, the ”ChatGPT” taking the internet by storm. Its popularity can be analyzed from the fact that since OpenAI made the app live in November, It has gained 1 million users in 7 days, which even WhatsApp did in 2 years. Mind-blowing?
Well, the app is still in its incubation phase. Some argue it’s going to take over the AI world, Others believe that it's not smart enough to replace humans' brains. Moreover, the company has made the app available free for its’ users, with the plan to monetize it soon. So the FOMO kicked in and the swarm of people dug into the app. But is it the first time any AI bot has made the headlines?
Well no, in the past many generative visual bots like DALL-E-2 and Lensa-AI had stepped into the AI world. So what’s special about ChatGPT? How does it work and does the hype worth the attention? Let’s find out!
Without further ado, let’s dive in
What exactly is ChatGPT?
The moment AI Research Company “Open AI” introduced its language model called “Chat GPT”, it become an instant sensation. It is a variant of the GPT (Generative Pre-training Transformer). GPT-3 is based on machine learning algorithms to analyze the text. The interesting thing is that the bot remembers the thread of the conversation and responds in a human-like manner. Overall it generates responses based on the natural language process input.
Prominent USE-CASES with ChatGPT:
- It does brainstorming for you. It’s full of content or design ideas based on how targeted and elaborated your topic or keyword is.
- It can be your language translator. It speaks 50+ languages and translates text in a couple of seconds.
- Empowered to generate automated customer service tools.
- You can even ask the tool to generate wireframes and even complex python codes. Moreover, It can write even test cases, generate regexes, and can find bugs in your code. It knows the drill even to be your programming tutor.
- Can precise your long documents to short summaries within a few seconds.
- The marketing world is excited about the platform and it will be a breeze to make business plans, blogs, email responses, and even product descriptions.
- The bot can perform your teacher duties as well. Ask it to teach you on any topic according to your grade compatibility. Well, that looks promising.
In short name, any query and the bot will customize your request as per your interest. But does it really that perfect and competent enough to be your reliant AI partner? The answer is certainly not!
Even though it can generate poems for you but the quality of the work depends on how well you incorporate the human touch.
Is ChatGPT better than Google?
Well if you ask the same from Chatbot, I’m sure the answer would be biased. So here comes the human approach since GPT is not a search engine and works on the limited data that it is trained for. It is definitely far behind in terms of data output. But is good at adding a creative element to what you ask from it. Moreover, unlike Google, you don’t need to scroll through tons of research papers to compile your work. The bot prepares that for you.
Worthy to mention here that in the future, ChatGPT is expected to deliver content with the help of search engines. Since Microsoft is all set to release its version of Bing that will support CHATBots as well. Moreover, You.com has also emerged on the surface, the AI search engine that connects GPT with Google. So the future seems promising for the AI world.
What does CHATGPT-takeover mean for the business world?
A-game changer for product managers:
The bot is making waves in the business world as well. If you are running a business then you must not miss out on the opportunities it provides you with. The services you offer and the product you are selling are just the AI touch away to provide personalized, data-driven recommendations to solve specific problems. With ChatGPT in action, your workflows are enhanced with an uplift in the customer retention rate.
Automate time-consuming tasks:
The biggest area in businesses is the customer service field where transformational technology creates killer strategies. From customized responses to improving your own service chatbots, the bot is handy in automating tasks.
Powerful enough to replace jobs?
There are also some speculations that chatGPT can replace jobs in the parallel world. The apprehensions are not to be worried about at least for now, as humans are inimitable when it comes to rational decision-making and critical thinking.
Ethical issue with GPT:
But here comes the catch, businesses are worried about the copyright issues that many big giants are facing. That’s the ethical problem that comes with the tool. The latest news is that the famous “stackoverflow” website has banned the bot-generated answers to its website due to the incorrect information it frequently displays.
Also, ChatGPT may include copyrighted material belonging to others, so it's important to be cautious when using the generated text.
Overall a chatGPT bot will improve the business productivity and is cost-effective in terms of training the resources.
How is it affecting the AI-Marketing world?
Since OpenAI is in the midst of a new gold rush. In past, famous brands like Sephora and Starbucks have used chatbots to generate automatic responses. This has helped them to increase their sales. Thus the paramount aspect of marketing is to improve the customer experience.
With customized and creative social media responses, your brand loyalty will be in the bag. Businesses can run successful targeted marketing campaigns.
Additionally, it can be used to automate repetitive tasks, such as answering frequently asked questions, which can save time and resources for businesses.
Limitations with CHATGPT:
The buzz of Artificial Intelligence has always been the technical world’s moonshot. The opportunities with AI are limitless, but we must be cautious of how much we can trust it. It was the Chatbot that said that Donald Trump has won the presidential election in 2020. Let’s see some of the major apprehensions that come with the new bot.
- What’s off-limit about this technology is stated by the core platform operators themselves. Open AI creators mention that the bot is capable of generating false information occasionally.
- Moreover, sometimes it generates precise and limited information that’s because it writes what it’s been trained on.
- The most notable aspect is that since it works on the pre-trained and pre-added data so it can generate biased responses and is not at all reliable. For instance, it can produce racist, islamophobic, and antisemitic responses as well. Let’s recall a Microsoft bot named Tay that landed itself in hot waters and was taken offline right after it started praising Adolf Hitler.
- In addition, OpenAI acknowledges that depending on when the model was developed, the AI may only have a limited understanding of events occurring beyond 2021.
- The security concerns that come with the chatbot shall never be neglected. There has been an upsurge in cybersecurity activities ever since its rise. In December 2022, Elon Musk pauses OpenAI when discovered that it is using Twitter databases to train its bots. He clearly states that since OpenAI is not a non-profit company anymore so it cannot steal our information. One should pay to access our data.
- Google and Meta are always seen to be a bit resistant when it comes to building any such bots. As there are strong chances of hate speeches and toxic content.
- OpenAI made this bold decision to make the tool accessible to everyone and gave netizens something sensational to talk about.
Cutting through the noise, Sam Altman, the CEO of OpenAI himself tweeted that
”It's a mistake to be relying on it for anything important right now. it’s a preview of progress; we have lots of work to do on robustness and truthfulness’’
What’s the fuzz about ChatGPT replacing humans?
Ever since its launch it's getting on the nerves of the people. Some believe that it cannot replace humans. I assume that neither its direct adopters can. But one thing is for sure the amalgamation of human creativity+ChatGPT can replace you.
One more aspect that is a hot topic nowadays is that chatGPT isn’t creative enough. Well, I argue that it is definitely smarter than humans. As it is already on its way to conquering the world. If humans start using it in daily tasks, then our creativity will be minimized. This means there can come a time when we don’t remain creative enough and can’t think out of the box to even ask creative questions. Definitely, an aspect to ponder upon So, be careful how to use it!
The fact that AI can’t think themselves, and doesn't exactly know anything on their own, they can never completely replace the human brain.
The Bottom Line:
As OpenAI is continuously scaling its system. The ability to perform exceptional tasks by AI can never be doubted. However, it is paving the way for businesses and the tech world to excel like anything. With GPT-3 in action that can prepare sales data and can qualify accounts for prospecting, and can analyze if they could be a good fit. The potential can be analyzed from the fact that the initial usage curve of ChatGPT has even beat Netflix.
As per Gartner, “Artificial Intelligence (AI) will be a mainstream customer experience investment in the next couple of years”.
The premium version is expected to overcome the limits and can offer faster and more conversational responses. Cut to the chase, AI is not going to replace you but the person leveraging GPT power with human creativity can. So it would not be wrong to say that 2023 would be the year for ChatBot.