ChatGPT, the artificial intelligence chatbot developed by OpenAI, has created a phenomenon in the consumer world. In an unprecedented two months after its official launch, ChatGPT achieved 100 million users per month, causing shockwaves in the education, media and marketing sectors. Corporations like Microsoft and Google were pushed to implement similar technology into their own products, adding to the discussion whether ChatGPT will soon become the next big platform.
Businesses can benefit immensely from the integration of ChatGPT into their own platforms. Through streamlining operations, cost-saving, and customer experience optimization, organisations can experience a positive outcome. However, there are limitations and risks associated with the usage of ChatGPT that need to be properly managed to ensure success. This article aims to provide organizations guidance on how to use ChatGPT and AI for their advantages, with helpful tips on risk management and limitations.
ChatGPT is considered as a generative AI product, which is a combination of an artificial neural network and various deep learning techniques. It is the first product of its kind to be made available to the public, and spawned numerous similar chatbots such as Microsoft’s Bing, Google’s Bard, and Anthropic’s Claude.What makes ChatGPT stand out, though, is its high level of adaptability when it comes to natural language processing tasks.
While ChatGPT can be beneficial, there are risks associated with its use. Potential issues include accuracy, reliability, safety, fairness, bias, discrimination, transparency, and use of intellectual property and data privacy laws. If a business plans to integrate ChatGPT into their systems, they must establish a written policy that outlines the proper usage of the product. This may involve providing training and demonstrations to employees that are more familiar with the tool, while ensuring they are knowledgeable of the risks involved. Regular risk assessments may also be conducted to identify and prevent any potential damage, and for the legal department and the business to stay in communication and discuss use cases, opportunities, and risks.
Organisations need to be aware of the potential drawbacks of AI, and to take the necessary action to protect their business. Through a use policy and a solid risk management framework, companies can exploit the power of ChatGPT for their benefit, while safeguarding their customers and their own interests.
OpenAI, the company that developed ChatGPT, was founded in 2015 by tech visionaries including Elon Musk, Sam Altman and Greg Brockman. It is a research-based artificial intelligence lab that focuses on pushing the boundaries of safety and positive social impact while developing cutting-edge technologies. The company is also responsible for cutting-edge trends, such as Generative Neural Models, that power AI applications such as ChatGPT.
OpenAI CTO Greg Brockman is a computer scientist and entrepreneur. With his impressive expertise he pushed the company towards a mission of developing AI technologies that can benefit humanity. Along with a team of artificial intelligence experts, Brockman has managed to revolutionize the use of AI in the consumer space, contributing to the success of products like ChatGPT.
The use of ChatGPT and other AI products bring about certain risks that must be taken into consideration. Companies must be aware of these risks and take the necessary precautions to implement a policy and risk management framework. This will ensure its business can benefit from the advantages of ChatGPT, while also protecting its customers.
