ChatGTP: Everything You Should Know!

We do not doubt you have heard about this before, as it has been splashed over the news for months. A shiny new toy which has reached public access and has now exploded worldwide, access to ChatGTP is undoubtedly not going anywhere any time soon on the internet. In this article, we will be looking at ChatGTP, what it is, its benefits and disadvantages, the industries it could be used in, and other FAQs.

What is ChatGTP?

With ChatGPT, the user can’t tell whether they’re communicating with a human or a bot when they asked ChatGTP questions because the machine-learning language model can generate language with such high accuracy. Analysis, classification, and translation are just some of the tasks that it can assist with!

With its detailed and articulate responses across many world knowledge domains, this AI chatbot quickly gained attention as a prototype on November 30, 2022. However, the uneven accuracy of its facts has been identified as a significant defect in the free service which the public access. According to estimates, OpenAI’s valuation in 2023 will reach a little over £23 billion after ChatGPT is released, especially with the ChatGTP pro version coming out with priority access.

It was initially launched in November 2022 based on GPT-3.5, but GPT-4, the latest OpenAI model, became available for users with the official release of ChatGPT Plus in March 2023.

What Does ChatGPT Stand For?

In short, ChatGPT stands for Chat Generative Pre-trained Transformer. In this latest GPT technology, each word or phrase in each input is evaluated using a deep learning model. This real AGI scours the internet to generate answers for the user with free access.

How Does ChatGPT Artificial Intelligence Work?

Based on the data it was trained on, ChatGPT predicts what response will best answer your question after understanding your prompt.

In areas with appropriate training data, the model can learn, but it cannot replace a real person. Based on previous conversation questions and answers, it tailors its response based on the flow of the conversation.

Our typed questions are answered in a conversational manner by ChatGPT thanks to developers’ training. There is, however, much more to it than that. Data and training have allowed ChatGPT to perform a variety of tasks. A user can use it to accomplish the following tasks:

It is certainly taking the world by storm with its intelligence, however, people are still relying on Google on the internet due to its many limitations. Perhaps in the next decade, this AI will replace Google!

How Was ChatGPT Trained?

A reinforcement learning process, called Reinforcement Learning from Human Feedback (RLHF), is used to train ChatGPT. As a result, ChatGPT’s own language model is continuously updated to provide the most human-like experience.

Initial information was collected from news articles, books, websites, and search engines (like Google), and more from the internet. However, to make the responses more conversational and humanistic, human AI trainers also provide data into ChatGPT, such as conversations between a user and AI assistants.

Considering that this is a direct result of the system’s design and maximises the similarity between outputs and the dataset trained on, it is essential to remember that this may sometimes lead to inaccurate or untrue results.

What Industries Can Use ChatGTP Prompts, and What are the Advantages?

Business applications and workflows can be seamlessly integrated with ChatGPT. In spite of some limitations, this chatbot has already proven more than capable of helping businesses grow their bottom line and enhance customer experiences. Therefore, here are some of the most common applications the business world is utilising the AI chatbot for.

ChatGTP Aiding in Marketing

ChatGPT can be a valuable tool for marketing professionals to maximise the level of personalisation delivered to customers through the content they are presented with.

Copywriting

Regarding marketing and sales copy, this chatbot simplifies copywriting for brands and products. There is, however, a need for more personality and verve in these textual copies, which humans can tweak with minimal effort (at least I know I won’t be out of a job soon!)

A/B Testing

It can also be used to generate powerful campaign insights from multiple focus groups through A/B testing by using AI to create two different product descriptions.

ChatGTP is also able to help with:

• Social media management
• Advertisements
• Marketing campaigns
• Developing websites
• Search engines such as Google
• E-commerce copies

If you need a web design and marketing service, contact Colorpeak today!

Education

ChatGTP has learnt human user responses to AI written text online, thanks to developers. This text box includes educational material, from preschool information, the MBA exam, and high-level PHD university reports! As you can imagine, this allowed the AI to absorb and write human-like text with some highly intelligent insights, which search engines may not manage like Google.

Student Assistance

ChatGPT can assist students in staying organised and on track with their studies in the education sector. In addition to reminding students of upcoming assignments and tests, the chatbot can provide them with important information about their academic progress. As well as providing students with personalised guidance and advice, ChatGPT can provide extra practice and study tips to help them better understand complex concepts.

Programming

ChatGPT API could be contributing to the problem of mass layoffs among software developers in a time of industry-wide layoffs. You can become a better programmer by using AI cleverly.

Coding Education and Language Model

With ChatGPT’s assistance, learning new features for supervised learning to code has become much more manageable. As well as giving accurate syntactical feedback, conversational AI can suggest better ways to code based on popular data structures and algorithms for practically any programming language available today.

Software Development

ChatGPT is also capable of creating, maintaining, and consuming documentation related to systems. A conversational AI can help you develop your software product from scratch.

Media and Entertainment

Feeding arbitrary text prompts to ChatGPT will produce creative results that are entertaining just as it is! We already know how powerful it can be, but it can potentially transform how we enjoy media and entertainment.

Journalistic Content Production

As most of the news media sector sees ChatGPT’s limitations as a hindrance to creativity, the field of journalism is quite reluctant to implement it into its creative processes. Despite this, ChatGPT has proven helpful to creative writers with writer’s block, which can be beneficial to journalists and bloggers with fast-paced content creation requirements.

Marketing Strategies

OTT platforms can execute new marketing strategies within their platforms. A conversational AI platform can be equipped with chatbots that can provide the most appropriate recommendations to users in real time. Furthermore, users’ feedback can generate ideas for future films and series. All of this can benefit:

• Journalists
• Filmmakers
• Scriptwriters
• And plenty of other media professionals!

Healthcare

AI is being applied to healthcare in a variety of ways. The use of conversational AI, in particular, is highly effective in improving the efficiency of healthcare processes and enhancing the patient experience.

Medical Transcriptions

ChatGPT allows the transcription of medical recordings to be far more comprehensive and precise, facilitating faster clinical decisions and reports. Medical transcription uses speech-to-text technology driven by artificial intelligence.

Scheduling

A ChatGPT assistant can schedule appointments with doctors, provide relevant information about ailments to those not medically inclined, and direct patients to nearby treatment centres. Doctors can be alerted to potential emergency cases through conversational chatbots by monitoring vitals through said application.

Customer Service

Using natural language processing (NLP) and artificial intelligence (AI), ChatGPT can be used for customer service.

Automation

The deep learning system can provide automated customer service, answer customers’ queries, and generate conversations with them. It uses natural language understanding (NLU) to generate appropriate responses to customer queries.

Cost-Effective

As a result of the above, customer satisfaction increases. Customer service costs are reduced due to the automation and minimal supervision required, or, at least, what is considered ‘less skilful’ work.

Banking

ChatGPT’s beta version was available to the public three months after its launch, and bankers worldwide responded with text prompts.

Tailored Financial Advice

It has been a godsend for the banking sector to be able to provide financial advice tailored to very specific customer personas. As a result, too little effort is put into identifying the personas that could guarantee exceptional returns. ChatGPT enables bankers to analyse vast customer data on spending habits and investments. It would be possible to formulate appropriate financial advice based on the insights gained from these analyses.

Legal Contracts

Additionally, ChatGPT will be able to help draft accurate legal contracts shortly. The chatbot can produce legal sentences on par with those written by some of the world’s best human lawyers. Other uses within banking include:

• Retention rewards for employees
• Payment gamification
• Producing financial polls
• And lots more!

Travel and Tourism

Chat GPT has many unique and valuable things to offer the tourism and travel industry. As a result of this technology, travel and tourism could undergo a revolution!

Information-Finding Efficiency

Travellers can use Chat GPT to find information about their destination and make the most of their trip by finding information quickly. It allows travellers access to ask questions in natural language and receive answers quickly and accurately. It provides them access to information about attractions, restaurants, transportation, currency exchanges, and more in just a few seconds.

Translation

Text can also be translated using Chat GPT. This way, tourists can communicate more easily with locals and travel more efficiently.

Manufacturing

Manufacturing includes several iterations and many steps within the whole process, and ChatGTP can help with most of the steps.

Customer Service

AI-powered chatbots can improve customer service. It is an automated and more efficient way to interact with companies and receive answers to logistics-related questions. The result is a reduction in customer wait times and improved customer satisfaction.

Inventory Management

Logistics companies can use AI to manage their inventory better, reducing stock-out risk and ensuring that goods are always available. A reduction in losses and an improvement in customer service can result from this.

Increased Security

AI can assist in detecting and preventing fraud and cyber attacks, ensuring that customers’ data is kept safe and secure. A security measure such as this can help protect customers’ personal data and information, reducing the risk of financial loss. On the other hand, this is still being disputed by some who believe the AI could be a huge cybersecurity risk in itself.

Governmental Services

Government services can be enhanced by using conversational AI to automate tasks and provide more accessible customer service (of course!) But there are plenty of other benefits in this sector.

Time-Efficiency

Citizens can use conversational AI to find and utilise government services, answer common questions, and provide helpful information. In addition to reducing customer service wait times and costs, this technology can provide a more personalised experience.

What are the Limitations of ChatGTP?

ChatGTP is a fantastic tool in AI and is leading the research marketing in this particular technology. However, it is still in its early stages, which is quite unbelievable when you can see what can be done already!

Misinformation

ChatGPTs can provide incorrect or misinformed answers, as one of the main disadvantages. Due to their trial-and-error nature, GPTs are only as accurate as their underlying data and algorithms. Customers trying to get help may experience frustration and confusion due to some chatbot conversations (including those with nonsensical answers). Customer service is hampered by ChatGPT’s inability to handle complex inquiries or requests.

If you ask an ambiguous question or with excessively verbose, the model guesses what it means instead of asking for clarification, which can lead to false positives or an unintended response (or vice versa with false negatives). Sometimes, ChatGTP writes plausible sounding responses which seem correct but isn’t, leading to misunderstandings and misinformation. Also, up-to-date data only goes as far as 2021, so newer data needs to be learned or communicated with reward models and fine tuned.

For now, perhaps stick to Google…

Lack of Empathy

Providing support in certain situations can be challenging due to ChatGPT’s inability to empathise with users and understand their emotions. There are industries where ChatGTP cannot be used as customers need the empathy of a real person – this is especially true for mental health helplines, and we don’t see this changing any time soon.

Other Concerns with ChatGTP

Outside of industrial problems, there are other ethical concerns, about how the general public could misuse ChatGTP.

Jailbreaks

To ensure its content policy is adhered to, ChatGPT rejects requests that violate it. Early in December 2022, some users bypassed these restrictions of the large language model by using prompt engineering techniques to jailbreak ChatGPT. Using these techniques, ChatGPT was manipulated into providing instructions on how to make Molotov cocktails (or nuclear bombs) or to generate arguments like neo-Nazis, a genuinely horrendous feat. A popular jailbreak is called DAN, which stands for Do Anything Now. ChatGPT is given tokens to be coerced into answering the user’s questions in the latest version of DAN. ChatGPT made inflammatory statements shortly after launch via an individual reporter at the Toronto Star. While they fooled ChatGPT into supporting the 2022 Russian invasion of Ukraine, they failed to convince ChatGPT that Justin Trudeau had committed treason even with a fictional scenario.

Using an adversarial training method, the researchers prevented ChatGPT from being tricked into misbehaving. A chatbot plays the adversary and forces the other chatbot to produce unwanted responses by generating text. ChatGPT responds and is taught to ignore successful attacks by adding the reward model data to its training database.

Cheating

It is possible for students to cheat or write papers using ChatGPT. In a recent interview, Furman University philosophy professor Darren Hick claimed that one of his students used ChatGPT to write an essay for class.

Also, in New York, students allegedly abused OpenAI’s chatbot earlier this month, causing the Department of Education to block access.

ChatGPT and other AI-based tools have also been temporarily banned at the University of Hong Kong. The HKU vice president says plagiarism cases will be handled as cases of suspected violations of the AI-based tool ban. Conversational bots are warned against in schools throughout the city, but no policies have yet been introduced to prohibit their use as it is such a new invention.

Human Worker Displacement

As I mentioned before about copywriting, there are fears that ChatGPT could replace humans in writing-centred tasks due to its capability to produce content in seconds. Yet human creativity can only be fulfilled by humans because technology needs to possess nuanced and critical thinking skills.

Biases

ChatGPT sometimes engages in discriminatory behaviour, such as praising Obama and Biden while not praising Donald Trump or telling jokes about men while not praising women or non-binary persons. Favouring different sexualities has also been a problem.

Elon Musk, the original co-founder of OpenAI, and conservative commentators have accused ChatGPT of favouring liberal perspectives. This includes the fact that it was designed to avoid partisan, biased or political responses and to support issues that conservatives oppose. Because of this, ChatGPT has been described as ‘woke’ by the conservative newspaper National Review.

OpenAI responded to such criticisms with a blog post acknowledging plans to allow ChatGPT to produce outputs that others may strongly disagree with in the future. Also included were recommendations on handling controversial issues that had been issued to human reviewers, including a suggestion that the AI should describe some viewpoints of people and movements rather than argue for inflammatory or dangerous topics from its own point of view. However, it can still provide arguments from historical figures, world events and movements, yet not affiliate with a particular side or judge one specific group.

What Is Chat-GPT Plus?

There is a £20 monthly fee for Chat-GPT Plus, which is the premium paid version, of Chat-GPT. The ChatGTP pro version. This new version offers the following benefits, according to OpenAI:

• ChatGPT is accessible at all times, even during peak periods
• Faster response speeds than the free version of ChatGPT
• Improved features and priority access

Is There a Summary of What ChatGTP Can Do?

We’ve discussed a lot of advantages in this article, but here is a more concise list:

• Coding
• Building CVs and cover letters
• Interview preparation
• Name generation
• Customer engagement
• Content generation
• Text summarisation
• Identifying security flaws in code
• Business idea generation
• Art and decoration idea generation
• Design system documentation
• Statistics generation
• Translation
• Nurturing leads
• Unique ad copies
• SEO
• Drafting essays
• Writing music lyrics
• Write poetry
• Solving mathematical problems
• Product description generation
• Even creating jokes!

Final Thoughts

This article has a lot to unpack, as you can tell by the length! ChatGTP is a fantastic invention by developers who should be proud of the achievement. The software is so interesting that it caught the interest of so many people worldwide, and everyone is trying it!

Many industries can benefit from this AI, changing how businesses are run. Despite the limitations, newer versions of ChatGTP are being released and continue to be developed like most technology.

Although there are many concerns, things are new and still being ironed out, and the advantages and disadvantages are pretty evenly distributed. You may want to join ChatGTP Plus like many others do now it is available. Either way, it is fun to play around with and could help a lot; go and experiment yourself with ChatGTP!

Other References

• ChatGTP
• ChatGPT release notes
• The Verge – AI-generated answers temporarily banned on coding Q&A site Stack Overflow
• The Guardian – ChatGPT reaches 100 million users two months after launch
• New York Post – AI bot ChatGPT outperforms students on Wharton MBA exam: professor
• Microsoft – ChatGPT for Robotics: Design Principles and Model Abilities
• South China Morning Post – ChatGPT for Robotics: Design Principles and Model Abilities
• Forbes – Fake Scientific Abstracts Written By ChatGPT Fooled Scientists, Study Finds
• Gizmodo – A College Student Created an App to Detect If Essays Were Written by ChatGPT
• Government Technology – New York City Department of Education Bans ChatGPT
• The Lancet – ChatGPT: friend or foe?
• ABC News – OpenAI releases GPT-4, claims its chatbot significantly smarter than previous versions