ChatGPT 3.5 released on November 30, 2022. ChatGPT 4 came out on March 14, 2023. Around the same time, Google opened up BARD to a limited group. New AI language models are garnering a lot of interest, but what can you actually do with them?
ChatGPT by OpenAI is a large language model that launched in November 2022 and can generate human-like text. While it has limitations (fact-checking is a big one), this adaptable artificial intelligence (AI) chatbot can handle tasks from customer service to drawing up a travel itinerary, and it's quickly becoming a go-to solution for businesses of all sizes.
In the past few months, the number of ChatGPT users has risen sharply: ChatGPT had more than 100 million monthly active users as of January 2023, Reuters reported. OpenAI's most popular project to date has been on the minds of folks globally, including those in charge of Google, Microsoft, and Meta. As a result, the AI language model has become the app with the fastest growth rate of all time, exceeding even TikTok.
OpenAI's ChatGPT has changed how people interact with artificial intelligence, with its advanced natural language processing (AI). ChatGPT has been trained on a vast quantity of text data to understand and reply to a wide range of topics like a person. Used correctly, ChatGPT could become a powerful tool with the potential to make people more productive and creative. It can answer questions, develop creative writing ideas, or help with everyday tasks.
How ChatGPT works
ChatGPT applies machine learning techniques to a massive corpus of literature to answer user requests with words and phrases that seem like they might have been said by a human - having said that, ChatGPT predicts what words should come next in speech and is currently incapable of fact-checking.
It is designed with the most recent breakthroughs in artificial intelligence technology, such as transformer architecture, large-scale pretraining, and reinforcement learning, to participate in natural and varied discussions with users.
Its adaptability to numerous contexts and scenarios enables its employment in various use cases across multiple industries, including retail, education, and marketing.
Uses of ChatGPT
Instant response: Users can use ChatGPT's capacity to understand and respond to different languages to discover straightforward, uncluttered solutions to problems. Because the AI chatbot can explain complex topics in different tonalities or ways of speaking, obtaining a quick summary of relevant information becomes simple.
Great learning: One notable advantage of ChatGPT is its ability to learn from user interactions. It can adapt and improve its responses as it converses with people, becoming more accurate and natural. ChatGPT's adaptability broadens its use cases, making it a powerful tool for developing better conversational AI systems in the future.
Assisting business: Many businesses are looking to integrate the AI-powered ChatGPT tool into their workflow to provide quick and intelligent responses to common customer queries and improve customer experience. The AI chatbot assists businesses in efficiently understanding and addressing customer pain points by searching the Internet for specific user queries and providing a quick summary of relevant information.
Virtual assistants: ChatGPT can develop virtual assistants to aid organizations with scheduling, emailing and social networking. It may improve workflows, automate repetitive tasks, and give busy professionals more time for innovation and research.
Generating summaries: ChatGPT can summarise lengthy articles and documents. It can be advantageous for firms that must assimilate a great deal of information swiftly.
Sentiment analysis: ChatGPT can also be utilized for sentiment analysis. By training the model with a vast corpus of text, companies may use it to assess the sentiment of a piece of text automatically. It can be beneficial for evaluating consumer comments and monitoring customer mood on social media.
Some interesting uses of ChatGPT
- We can use it for creating CVs and resumes.
- It can also read and edit an existing CV or resume.
- It can assist you in preparing for a job interview.
- It helps simplify complex ideas.
- It can also compose music.
- It can help you write code.
- ChatGPT can even help you with translation.
- It can assist you in writing essays or long-form copy.
- You can have a pleasant conversation with ChatGPT.
- You can also use it to play games.
ChatGPT cannot respond to inquiries:
- That needs personal beliefs or opinions.
- That is illegal, unethical, or inappropriate.
- Need expertise beyond its training data.
- That is unanswerable, given the provided information.
- Involve guesswork or hypothesis without evidence.
- Request future forecasts with absolute certainty.
- Contravene the OpenAI use-case policy."
These are only a few of ChatGPT's real-world applications. As technology changes and gets better, we expect to see more ways to use it to help businesses and make work easier. ChatGPT is worth a try if you're looking for a powerful tool to help you create content, improve customer service, or gain insights from your data.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
