Would you be interested in having a friend that is always ready to give you a helping hand, and can potentially answer all your questions and help you learn and grow? If the answer is “yes”, consider your wish has come true. ChatGPT is a buzzword in today’s media. A unique piece of technology that is said to inspire a new era of innovation and create a world of enormous possibilities.
Simply put, ChatGPT is a highly sophisticated chatbot that allows you to have human-like conversations and much more. It can write essays, draft business plans, compose emails, and even code or debug. Unlike simple voice assistants like Siri, ChatGPT is built on Large Language Model (LLM). This means its neural network has been trained on a huge mass of information for deep learning. It uses textbooks, articles, websites, and similar – to model its language to respond to human interaction conversationally. Dialogue format enables ChatGPT to respond to follow-up questions and challenge wrong premises.
ChatGPT-4 is the latest version of the software that has been trained on a lot more prompts than its predecessor ChatGPT-3, including the malicious ones. It has much better reasoning abilities and provides greater factual information while responding less to malicious requests. What is more important, unlike the older version, ChatGPT-4 has been trained to understand images. This is a transformative change, as now chatbot can be effectively used by those with impaired vision or utilized in analytics of a variety of graphs and charts. In addition, ChatGPT-4 processes 8 times more words than version 3 could handle. Its word limit has increased from 3000 to 25000. It is better equipped to handle multilingual tasks as well.
The technology was developed by San Francisco-based AI research lab – OpenAI. The company got founded in 2015 by some well-known players including Elon Musk and Sam Altman alongside other Silicon Valley figures. In 2019 OpenAI joined forces with Microsoft. Just recently receiving $10 billion in funding for the exclusive use of AI technology valuing the company at $29 billion on the market. OpenAI has quickly made the list of big names in tech featuring most of the headlines today.
The innovative technology has been attracting nearly 1,000,000 new users per week lately. Given its truly multimodal capabilities, the chatbot has taken the tech market by storm. It was having an estimated number of 100 million users by January 2023, making it the fastest growing platform ever.
ChatGPT has thousands of applications in a variety of industries from 3D design and game creation to website sketching, code debugging, transactional data processing, and customer service. This technology is expected to have a far-reaching impact on nearly every industry causing a worldwide stir. The opportunities are limitless with more innovative applications on the way. Below are some the examples of how ChatGPT can be utilized:
With the release of OpenAI’s new chatbot, currently there are 3 major models running the market: Microsoft Bing, Google Bard, and ChatGPT. All three are intended to provide human-like responses, yet they perform differently. Bard relies on Google’s LaMDA model generating less text-heavy responses. It is soon to switch to a more sophisticated dataset PaLM. The other two piggyback on the same tech. In fact, Microsoft licenses OpenAI’s GPT technology to Bing and has seen a steep bump in traffic as a result. Both Bing and ChatGPT can process text and images. By far, the latter is considered to be the most effective and innovative of all three.
Despite the power ChatGPT has, it is not surprising that it comes with a set of associated challenges. Probably it is a matter of time until the most of them can be resolved busot we represent some of the major concerns below:
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