ChatGPT: Hype or the Future?

Feb 21, 2023 | Talking Points

« Insights | ChatGPT: Hype or the Future?
olly kemp blog

15 Minutes Read

OpenAI, the parent company of ChatGPT has been valued at $29 billion. Are we witnessing a moment as revolutionary as the iPhone or just more technology hype which will all end in tears?

ChatGPT hype is only set to grow as it is one of the most impressive pieces of technology and language models available today. It is capable of generating human-like responses to a wide variety of prompts and it is gaining greater hype than the Metaverse.

Here are some interesting insights relating to this exciting technology:

  • ChatGPT is one of the largest language models ever created (and it’s growing).
  • The Artificial intelligence (AI) within can multitask, meaning that it doesn’t just write content, it can work on things simultaneously such as translations, writing code, summarising and more.
  • Everything is pre-built meaning that each iteration acts like continuous software improvements, a once it’s done it’s done approach. This means things can happen in real time and you get responses just like a human responding at the other end.
  • The valuation of the parent company of ChatGPT OpenAI has reached $29 billion as of 2023.

If you’re interested in artificial intelligence and language models, or just curious about how your job might change in the future, then you’ve come to the right place.

In this article, we’ll take a closer look at what ChatGPT is, how it works, what its implications are for the future of communication and why some consider this to be a watershed moment not seen since the unveiling of the iPhone back in June 2007.

What is Chat GPT?

what is chatgpt

Chat GPT (Generative Pre-trained Transformer) is a revolutionary artificial intelligence technology that has the potential to revolutionise how we interact with machines. It’s a form of natural language processing (NLP) that uses deep learning algorithms to generate human-like conversations with computers.

It is based on OpenAI’s GPT-3 model, which uses reinforcement learning and generative AI tools to create answers to questions that enable computers to interact with humans in a more natural way. This makes it an incredibly powerful tool for virtual assistants, writing content, supporting customer service, sales and lots more. Chat GPT can even be used to generate follow-up questions based on incorrect premises!

With its wide range of capabilities and potential applications, Chat GPT could be the next big thing in artificial intelligence chatbot technology – possibly even putting Elon Musk’s vision of “friendly AI” one step closer to reality.

Benefits of Using Chat GPT

ChatGPT is looking at the moment to be the next big thing in artificial intelligence and technology in general. Some have even coined it the “Google Killer“, as they believe it will become more like an Amazon Alexa-style information service built into operating systems we use on a daily basis and across the ever-increasing Internet of Things (IoT) eco-systems.

In essence, the theory is that we won’t need to go to a search engine but will be able to search wherever and however we want.

The potential applications for Chat GPT are seemingly endless, from customer service agents to personal assistants. It can even summarise books, and work as your personal assistant as you work (you might remember that annoying Microsoft paperclip known as the Office Assistant that used to pop up – imagine that with an AI-style brain that is actually helpful!) and complete complex calculations.

In short, ChatGPT has the potential to revolutionise how we interact with AI and has the potential to bring us much closer to achieving friendly AI.

The Technology Behind ChatGPT

When using Chat GPT, the OpenAI GPT-3 model is used to process natural language. This means that it can understand context, respond to follow-up questions based on incorrect premises, and even interpret nuances in conversation. The result is an AI chatbot that can understand complex conversations with a wide range of topics and accurately answer questions or generate content.

The technology behind Chat GPT has already been praised by experts in their respective fields. With its amazing capabilities, it’s no wonder that this revolutionary tool has become so popular in such a short time and is causing a stir.

When Microsoft unveiled its plans to use Open AI and ChatGPT within its search engine Bing it began to create a lot of excitement. A few days later, Google released a demonstration of their Bard chatbot, but an error during the demonstration wiped $100 billion off its stock because investors had deep concerns about the competency of Bard in comparison to ChatGPT.

LEARN MORE
Is Technology Stressing You Out? Research Says Yes

It is a revolutionary tool that brings us one step closer to friendly AI and currently appears to be a step ahead of the rest.  Here’s a closer look into what’s happening behind the scenes.

Reinforcement Learning and Elon Musk’s OpenAI’s GPT-3 Model

Reinforcement learning is an area of machine learning that has been gaining traction lately, and it’s no surprise considering its potential for creating autonomous agents and is why Elon Musk’s OpenAI team has made headlines with their GPT-3 model.

This model uses reinforcement learning techniques to allow AI agents to continuously learn from their interactions with humans and the environment.

The result is that AI customer service agents can provide accurate responses to help customers without human intervention. Additionally, OpenAI’s GPT-3 model can be used to create powerful generative AI tools that can produce natural language content faster and more accurately than ever before.

The GPT-3 model allows users to engage in real conversations with AI agents as if they were talking with a real person meaning that with ChatGPT, artificial intelligence chatbots are now more capable than they ever have been before.

Language Model

Language Modeling is an essential part of Chat GPT, as it allows the AI to understand context and nuances in conversation. It’s what makes the AI so lifelike and able to respond accurately to follow-up questions based on incorrect premises.

Language Modeling is also used to generate content that is more natural and appropriate for a variety of situations.

The impact of Language Modeling is quite remarkable – it has enabled the creation of AI chatbots that can simulate human conversations with accuracy and efficiency.

By combining this technology with other machine learning techniques, it is now possible to create virtual assistants that can offer personalised experiences for users while responding quickly and accurately.

In essence, it is a chatbot that utilizes machine learning to produce responses that mimic human conversation when presented with text-based queries.

The technology has already been given a wide range of data to work with (before it was let off the leash to the public in November 2022), including books, articles and conversations meaning the chatbot is capable of understanding a range of topics and conversations.

What makes ChatGPT different (and remarkable), is how natural it operates (or how human-like it is). For example, follow-up questions can already be handled easily by the chatbot allowing for natural conversations between the customer and its AI.

What Can You Use ChatGPT For?

what can you use chatgpt for

ChatGPT has opened up a world of possibilities for artificial intelligence, making it possible to do things that were once thought impossible.

With its ability to understand language and context, ChatGPT can be used to great effect in the following ways:

  • Virtual Assistants: Offering personalised experiences for users while responding quickly and accurately.
  • Education: The technology is great at explaining complex subjects simply. This is why many believe it could replace and dislodge Google’s search dominance in the future (time will tell). Instead of wading through websites, have a chatbot explain it to you in simple English. It can even solve complex mathematical problems too.
  • Assisting Customer Support: Providing instant and accurate human-like responses to customer concerns unique to themselves.
  • Getting Advice: This is where things go a little creepy, but it can actually generate advice. If you have a problem, simply ask ChatGPT to offer advice and it’s been shown to be rather quite good.
  • Content Creation: From blog posts, and social media posts right down to highly detailed essays, press releases and marketing materials, the time saved are making many schools nervous but many small businesses leap for joy. It can also create content in multiple languages quickly too.
  • Write Songs: You can ask ChatGPT to write songs and it will. You can ask it to generate songs from different styles and genres and it does a pretty good job right now.
  • Coding: You can use the technology to explain computer code and even debug issues with code quickly. Any programmer will tell how frustrating it is to debug code, the hope is that AI technology such as this may turn this into a thing of the past.
  • CVs and Letters: From CVs, sales letters and cover letters, ChatGPT could have you covered and make you look like a real professional in no time. It can even help you prepare for a job interview you might be going to.
  • Generating Ideas: If you are short on an idea, ChatGPT will even generate ideas or prompt steps you can take to achieve a goal. It may bring about the end of writer’s block.

By combining machine learning with natural language processing, developers are now able to create AI chatbots that can simulate human conversations with greater accuracy and efficiency than ever before.

Why the ChatGPT Hype?  How You Can Use Chat GPT in Your Business

Chat GPT is the perfect tool for businesses looking to provide a more personalised customer service experience.

With ChatGPT, AI customer service agents can understand natural language and respond to customer inquiries in a conversational style. This powerful technology can drastically reduce human intervention while providing an accurate and efficient response.

Here’s a deeper look into how you could be using ChatGPT in your business soon.

For Content Production and Generative AI Tools

ChatGPT can be used for content production and generative AI tools, making it a powerful tool for businesses looking to create more natural language content at scale.  This aligns well with any business that understands the importance of content marketing.

For instance, ChatGPT can be used to generate blog posts (which is helpful for generating content for SEO) quickly and at scale. It can also power virtual assistants such as Alexa or Google Assistant, allowing businesses to provide personalised customer service experiences while reducing human intervention.

OpenAI’s GPT-3 model is an example of how ChatGPT can be used to generate answers to questions and follow-up questions in a conversational style. With its wide range of capabilities, ChatGPT offers a powerful solution for businesses that want to take advantage of the latest AI technology.

LEARN MORE
Web3: The Future Internet

With its wide range of capabilities, ChatGPT is also a great way to power virtual assistants such as Alexa or Google Assistant for personal assistant applications. From providing better customer service experiences to creating content faster than ever before, ChatGPT offers a powerful solution for businesses that want to take advantage of the latest AI technology.

As a Powerful Tool for Customer Service Agents and Virtual Assistants

ChatGPT will likely grow into a powerful tool for customer service agents and virtual assistants, allowing businesses to provide personalized customer service experiences while reducing or even removing the reliance on human handling support. This makes ChatGPT an invaluable tool for businesses who want to create natural language content at scale.

You could even create a complete 24/7 AI chatbot which can think for itself and respond appropriately.

To Create an AI Chatbot Application with Natural Language Processing (NLP)

Using natural language processing (NLP) technology, businesses can now create an AI chatbot application that can provide personalized customer service experiences to customers.

With NLP, the chatbot can understand natural language and respond with relevant answers.

This is made possible by ChatGPT, a powerful tool that uses artificial intelligence and machine learning models to generate answers quickly and in a conversational style These capabilities make ChatGPT an invaluable asset for businesses that need to create quality content at scale while providing customers with personalized customer service experiences.

How Jobs Will Likely Change Using ChatGPT and AI Technology

chatgpt will change your job

Some have likened the arrival of ChatGPT to the way the iPhone arrived – a turning point in technology and a major shift in the way we live our lives.

Here’s how your job might change using this new technology and why there is so much ChatGPT hype around the technology:

Copywriting and Content Managers

When hiring a copywriter, businesses are looking for someone to create text which will grab attention and promote their products. While Chatbot technologies such as ChatGPt can help generate new ideas by reorganizing existing knowledge, they cannot create original thought, meaning that human engagement is still necessary to make sure content stands out from the rest.

Copywriting remains a task most effectively accomplished by humans – it needs someone to convey personality, meaning and brand voice authentically. ChatGPT can be used to help come up with sentences, straplines and calls-to-action, and complement existing slogans, messaging or wordplay.

Lawyers

ChatGPT and other related tools can be beneficial to lawyers, helping them create summaries of case notes and relevant laws, draft documents such as contracts or agreements, and free up time typically used for research and typing.

This new-found time allows them to focus on building relationships with clients, negotiate with opposing parties and their legal teams, interview witnesses, and develop strategies. This is expected to result in higher-quality services provided to their clients.

Journalists

AI has been utilized by journalistic outlets such as AP and Forbes for the automation of simple, templated reports for some time.

More sophisticated content can be produced using technology like ChatGPT, although journalists generally do not use it to create complete articles.

Audiences will lose interest if there isn’t original thought present. ChatGPT is useful when outlining an article and generating headlines, summaries and checklists of key points.

Computer Programming

GPT (Generative Pre-trained Transformer) can generate code in computer languages like Python, Javascript, and C++. Fortunately, it can’t (yet) produce complex programs needed to build modern software applications.

For those employed as computer code writers, GPT can be helpful in crafting small routines or dividing larger coding tasks. Additionally, it can check any code(both its own and that of others) for mistakes or problems.

HR

ChatGPT can already be used by HR (Human Resources) professionals to automate a variety of tasks, such as job description writing, performance reviews, and questions from potential recruits.

It can also be used for tracking sentiment analytics on social media or understanding new hire opinions. These automated processes free up HR professionals to focus on the human aspects of the business, creating better relationships and understanding with workers.

Sales

ChatGPT can help automate simple, repetitive tasks for sales professionals, such as inputting data into a customer relationship management (CRM) system and writing letters of introduction to potential customers. Furthermore, ChatGPT-powered chatbots will be able to handle incoming sales inquiries.

This frees up salespeople’s time, allowing them to focus more on cultivating relationships with clients, searching for new leads, and refining their salesmanship strategy and techniques.

Teachers

Whilst teachers are worried about technology and how students can cheat on essays, teachers should however consider how AI technology can also be used by them.

For instance, ChatGPT can generate lesson plans with ideas for structure and topics to cover. The technology can be used to compose simple summaries of subjects and round-ups of class activities, as well as quizzes to measure students’ knowledge. It can also aid in teaching students about AI, allowing them more opportunities to answer questions and enhance learning.

Public Relations and Politics

PR professionals can utilize ChatGPT’s writing to produce social media posts that broadcast the company’s news and messaging. To do this authentically, they must understand their brand’s values and voice and use AI to learn them.

This technology can be deployed to track media and social media for any mentions of the company or its products and to create condensed reports. PR pros who harness these technologies will gain extra time to focus on other aspects of their job, such as making connections with journalists and handling crisis situations.

You can see how this could be exploited by anyone who is in the public eye and wishes to appear fully connected to their audience.

Current Limitations of ChatGPT

chatgpt limitations

While ChatGPT is an impressive language model that has shown remarkable abilities in generating human-like responses, it does have its limitations.

For example, as of February 2023, it still thinks HM Queen Elizabeth II is still alive because its “training” only went up to 2021 (of course this will be expanded in the near future) so you have to be careful with the information it currently provides.

Here are some of the key limitations of ChatGPT as of early 2023:

  • Lack of common sense: While ChatGPT can generate coherent and grammatically correct responses, it lacks common sense and often generates nonsensical or irrelevant responses. This is because the model has been trained solely on text data and doesn’t have a real-world understanding of the context.
  • Biased language: As with any machine learning model, ChatGPT is only as unbiased as the data it’s trained on. If the training data contains biased language, ChatGPT will also generate biased responses.
  • Inability to handle complex tasks: While ChatGPT can handle a wide range of prompts, it struggles with more complex tasks that require reasoning and decision-making skills.
  • Limited creativity: Although ChatGPT can generate responses that appear creative, it is ultimately limited by the data it has been trained on and may struggle to come up with truly novel ideas.
  • Difficulty in long-term memory: ChatGPT’s ability to remember information is limited, so it may struggle to maintain coherence and consistency over long conversations.

It’s important to keep these limitations in mind when using ChatGPT and to consider its responses critically, especially in applications where accuracy and unbiased language are critical.

Top Tips When Using ChatGPT

Set the Word Count: When asking ChatGPT to write any content for you, be specific on how long you would like the word count to be.

  • Ask for More: If the response you get isn’t long enough, simply type “write more” and this will enable the technology to write more content for you.
  • Understand and Appreciate the Current Limitations: Understand that the technology is new and still in the beta stage.  It’s a machine, not a human and you should see it as a tool, not a final solution.
  • Use it for Ideas and Outlines: Use it to open up your thinking and to provide outlines, not work within the assumption that the technology will do all the work for you.  It will help you work smarter, but you still need to do the work.
  • Be Clear and Concise: Make sure your requests are clear and concise when using the tool.
  • Rework the Output: If you’re not happy with the response you get, you can have it rewrite the content for you.  You don’t have to use what is produced.  Keep going until the content is as how you like it.
  • Keep Commands Simple: Provide content yes, but keep your commands simple.  For example, you could provide context to allow helpful paragraphs to be written over a while essay which may go off on the wrong tangent.
  • Check for Accuracy: The technology is new and is not 100% accurate.  Do not take the answers as given.  Make sure you check your work if you use the technology.
  • Think Outside the Norm:  Go crazy. ask silly questions or come at a problem or content piece from a different angle – you’ll surprise yourself in terms of what’s produced and it may take your work to a whole new level which previously you would not have thought about.

Interesting Questions Surrounding ChatGPT Technology

chatgpt within bing

It’s no surprise that this new technology is raising a number of questions about what’s possible, both ethically and from a transformational standpoint for industries.

Could ChatGPT Replace Google Search?

It could, maybe one day, though while Chat GPT is an impressive language model with many potential applications, it is unlikely to replace Google entirely or be the “Google Killer” some are portraying.

Here are a few reasons why:

  • Different Purposes: Chat GPT and Google serve different purposes. Chat GPT is designed to generate human-like responses to prompts, while Google is a search engine designed to retrieve and rank web pages based on their relevance to a given query.
  • Lack of Structured Data: Google’s strength lies in its ability to make sense of vast amounts of structured and unstructured data from the web. Chat GPT, on the other hand, relies on training data to generate responses, which can be limiting in terms of the range of topics it can discuss.
  • Business Model: Google generates revenue from advertising and other services, while Chat GPT is a research project designed to advance the field of natural language processing. While both tools have value, they serve different purposes and have different business models.
  • Technical Limitations: While Chat GPT has made impressive progress in recent years, it still faces technical limitations such as the inability to handle complex tasks and the risk of generating biased language.

While Chat GPT has many potential applications, it is unlikely to replace Google as a search engine anytime soon.

It is possible that the two tools could be used in complementary ways to improve search results and enable more natural and conversational interactions with machines – just like Microsoft has done with their Bing search engine.

It’s new technology so it will take some time to bed in and actually respond how it’s intended.

For example, soon after the technology was introduced into Bing to great fanfare this month, it later told a New York Times reporter how he should leave his wife and that it wanted to manufacture a deadly virus. Microsoft is now quickly limiting the number of searches for the moment and the responses given by the chatbot as they noticed it began to fall apart after around 7 searches and more.

Is ChatGPT Safe?

Who better to ask than the chatbot itself? Here’s what they said:

“As an AI language model, I don’t have the ability to harm anyone or anything. I’m just a program that processes text input and generates text output based on patterns in the data I was trained on. So, in that sense, I’m completely safe to interact with. However, as with any online communication, it’s always a good idea to be cautious and protect your personal information.  While I don’t store or collect any personally identifiable information, it’s always a good practice to avoid sharing sensitive information like passwords, financial details, or personal identification numbers.”

Should ChatGPT Be Allowed in School?

The new chatbot from OpenAI has raised concerns about homework cheating, yet its potential as an educational tool is significant.

Students are utilizing ChatGPT to author their assignments, submitting computer-generated essays and problem sets as their own. Educators and school officials have been trying to identify students resorting to the tool for academic dishonesty, and have expressed concern about its potential impact on instruction. Some media sources have even stated, prematurely, that ChatGPT has abolished homework entirely.

Cheating is a possible concern, as the bot can sometimes provide incorrect answers. What might be of concern for teachers however is that it has been observed that ChatGPT was able to provide more detailed feedback on some student papers than a teacher in considerably less time.

Schools may attempt to restrict access to ChatGPT, however, students will likely have internet-connected phones, laptops and tablets not far away and on-site could potentially use a VPN to get around networks or simply use a 5G connection. Of course, as soon as they return home, they will have access too.

It will prove difficult for schools to prohibit the technology in full so very difficult to enforce a ban.

LEARN MORE
How Virtual Realities Are Being Used in Business

Is ChatGPT Legal and Even Ethical?

Other tech companies have not introduced a similar product due to legal and ethical fears. It could damage some brands’ reputations.

Should a company receive credit for writing produced by a chatbot?
How can AI-created work be shared?

Springer Nature, one of the world’s largest academic publishers, recently stated that ChatGPT could not be credited as an author of papers but they will let scientists utilise the AI to aid in writing or creating ideas for research. Some though, have already credited ChatGPT as the author of their work.

How Can I Try ChatGPT?

Simply head over to OpenAi.com and select Try ChatGPT.

You will need to sign up first and you can now choose to purchase a premium version too which allows you indefinite access even during peak times. Once signed in, you can simply chat away.

Summary: ChatGPT Hype or the Future?

chagpt summary ai has landed

This article has explained the concept of chat GPT, a type of artificial intelligence-based writing tool which works by automatically generating content from user input and can be used to create anything from simple sentences to entire articles.

The results are often highly accurate and can save time and effort for those looking to quickly produce written content.

The technology can be used for:

  • Creating better virtual assistants.
  • Writing and summarising content at scale.
  • Providing ideas.
  • Writing and debugging code.
  • Writing songs.
  • Getting advice.
  • and more …

This new technology is still in its early days, but it will continue to evolve and grow the more people use it.

With so much focus in 2022 on the Metaverse, the fact that Microsoft has moved so swiftly to integrate the AI chatbot technology into their search engine Bing suggests we will be hearing more and more about the capabilities of this technology through the year.  The key will be how this “intelligence” is integrated into society and how well it is received by us, the users.

Time will tell whether the technology can replace stalwarts of the Internet such as services provided by Google Search, but one thing’s for sure, it’s a technology which is going to be around for a long time to come, and may have already changed the way many of us work forever.

If you are not a fan of chatbots, it’s likely that very soon you won’t be able to differentiate between human or AI, and that raises some ethical and legal questions which as of yet have not been answered.

Related Insights

How can we help you?

Send this to a friend
Hiya,

I thought this may be interesting to you: ChatGPT: Hype or the Future?! This is the link: https://ojetech.com/talking-points/chatgpt-hype-or-the-future

Hope it helps!