Is ChatGPT worth the hype?

The business sector has often found itself flooded with new concepts, tools and ideas. At the moment, one of the most discussed tool is ChatGPT. It was launched in November 2022 by OpenAI, an artificial intelligence (AI) research firm co-founded by Elon Musk and Sam Altman along with other renowned names. Before ChatGPT, OpenAI delivered important AI models including DALL-E and DALL-E 2 and also received an investment of $1bn from Microsoft in 2019. Within the first week of its launch, ChatGPT crossed one million users worldwide.

But what exactly is ChatGPT? The AI-based chat tool can generate unique content for a variety of queries, relying mainly on supervised and reinforced learning. With its ability to create text, it offers an ideal solution to processes that require authentic, well-researched and accurate content.

In its own words, “ChatGPT is a large language model that has been trained on a dataset of conversational text. It can generate human-like text in response to prompts given to it. It is based on the GPT (generative pre-trained transformer) architecture and has been fine-tuned for various use cases such as question answering, language translation and text completion.”

Simply put, the tool can generate text in response to queries and instructions. You can enter a basic query to get accurate information and also enter a command regarding the kind of content you wish to generate, ChatGPT will be up to the task.

How to use ChatGPT?

Generating research-backed and accurate text used to be a tough task before ChatGPT arrived. Although it solves a great problem, using it is fairly easy and involves just a few steps.

• Visit https://chat.openai.com/chat on your browser.
• Enter a question or instruction according to the results you need.
• Copy and use the text.
• For a new subject or record, you can click on “New Chat”.

You can use ChatGPT for a variety of purposes including generating an email, tweet or informative text. It can also help you with answering questions, where you simply have to enter a query to get the response. Importantly, you can click on “Regenerate Response” to get a new and unique answer for your query.

Businesses can also use ChatGPT for extensive research, internal communications and marketing copies. For advanced results, the model can be trained and fine-tuned to generate industry-specific and accurate results by providing a dataset. It is important to provide instructions in a detailed and accurate manner, with examples of the output with understandable patterns.

How does ChatGPT help businesses?

Going by the fact that ChatGPT can create human-like text in a matter of seconds, it is evident that businesses can utilise it in different ways. Text-based communications form the basis of different business processes. With ChatGPT, productivity can be increased significantly by reducing the time required to generate instructions, messages and memos. Along with that, the chat tool can help in the following major areas:

1. Content marketing and lead generation
Content marketing has been at the core of every business that exists online. To maintain a strong SEO presence and social connectivity, companies constantly require engaging and useful content. With the smart use of ChatGPT, the content can be created with relative ease and in lesser time, allowing firms and individuals to always be ahead of their schedules, without compromising on quality.

ChatGPT can be used to generate marketing content like articles, blogs and social media posts among others that needs help in continuous in-flow of leads through content marketing.

2. Online customer support
Another major area where the tool can help is online customer support. Its API can be used to provide direct chat support on the websites and communication platforms like Slack and Microsoft Teams to generate automated responses. Though to reach that degree of automation, the companies have to be articulate in feeding the tool with a dataset that carries all the instructions and information that can be needed.

Why ChatGPT?

In its present form, it is undoubtedly a useful tool for individuals and businesses. Yet, the best thing about ChatGPT is that it can adapt to different situations and can follow instructions. Its parent company, OpenAI, also collects data from the users to make improvements in the tool, so we can expect it to only get better.

Can ChatGPT replace humansat work?

It depends on where we are looking at. In terms of generating useful text, ChatGPT does reduce human involvement to some extent as the content can be used for different purposes without any supervision. But, according to OpenAI blog post, the model is still far from replacing or substituting humans at work, as it lacks ethical decision-making and critical thinking abilities, which can sometimes result in plausible-sounding but incorrect or nonsensical answers.

Drawbacks, threats and criticism

As the tool is in its early days, it is not free from drawbacks and shortcomings. Amidst the praise and excitement, the chat tool has also garnered some criticism. First and foremost being that it relies completely on its training data, which is huge, but still not limitless. So it can at times miss out on certain aspects and perspectives important for a subject. For instance, it is already been noted that ChatGPT has a left-wing bias, which can be due to the data provided to it.

The next major concern is about security, as the chat tool can be used unethically as well. According to a report by Netskope Threat Labs, the content creation and coding functionalities of the tool can assist in the development of malware and phishing material. Though the report also concludes that the tool can be even more helpful for security teams to enhance online protection.

Present and future with ChatGPT

Despite shortcomings and criticism, ChatGPT is presently the most advanced AI-based language model at present. But, instead of being the culmination, it can be the beginning of an era of great advancements in AI and machine learning.

ChatGPT deserves all the hype it is getting, as it solves some important problems for individuals and businesses alike. With consistent improvement and advancements expected, the current and potential users are set to benefit even more in the coming years.

Read: DEWA becomes first UAE government entity to use ChatGPT