The topic of this article is ChatGPT-led AI revolution, and the question is whether it is mostly hype or hope. The AI revolution is something that has been developing over the past several years and has taken the world by storm. In the age of AI, it can be difficult to know what’s true and what’s false. However, by researching multiple sources and only looking for reliable sources, it is easier to gain a better understanding of the current state of AI.
ChatGPT, short for “Chatbot Post Training” and powered by AI large language models or other generative AI engines, is one of the recent developments in the AI world. Everything that it does is programmed, meaning it has no opinions or beliefs of its own and is instead programmed to provide users with the most relevant and helpful information they can find. With this technology, users can explore a variety of topics, such as science, history, technology and more, while also being able to assist with tasks like writing an essay, finding information on a particular topic, coding, and more.
ChatGPT can be used by businesses to optimize customer service, digital marketing, and internal operations. For customer service, it can help businesses answer customers quickly and efficiently, helping them find what they need and make purchases easier. For digital marketing, ChatGPT can help by engaging customers with personalized recommendations, sending out promotional messages and offers, and moderating reviews and ratings. As for internal operations, ChatGPT can help with functions like scheduling meetings, sending reminders, and providing employees with the necessary company policies and procedures with the least amount of human intervention. Additionally, ChatGPT can help with tasks such as pre-screening candidate applications and scheduling interviews for the recruiting process.
Although ChatGPT does have many uses, it’s important to remember that it still cannot replace humans. Many jobs require creativity and critical thinking skills that AI is not able to replace. It can, however, take care of repetitive tasks, as well as jobs like data entry and bookkeeping, while others such as telemarketers, receptionists and couriers are more likely to be impacted by AI.
ChatGPT is free to use, but there is a paid version that charges $20 per month. Since it’s launch in December 2022, it has amassed over 100 million monthly active users. OpenAI, the company which owns ChatGPT, is predicted to receive over 619 million visitors and $200 million in revenue in 2023, as well as $1 billion in 2024. However, there are some who worry about an inflated market bubble, as well as concerns regarding the ethical issues surrounding ChatGPT and Generative AI technologies, leaving many to ponder if a bust is just around the corner.
ChatGPT is designed to provide helpful information, but can also give wrong answers, with some users suggesting rephrasing the questions or providing more context for ChatGPT to understand. Additionally, those questions that cannot be answered by ChatGPT could be searched by the user or asked from human experts. Lastly, there are tools that can help detect whether or not an essay was written using ChatGPT.
OpenAI, the leading company behind ChatGPT, is a Silicon Valley-based nonprofit organisation founded in 2015 by a renowned team of researchers and engineers such as Elon Musk, Sam Altman and Greg Brockman. Its mission since its inception has been to advance digital intelligence in the way of research and of course, development. OpenAI has invested in and funded projects in natural language processing, artificial general intelligence and many more disciplines related to advanced AI.
Daniel Shin is a venture capitalist and senior luxury fashion executive overseeing corporate development at MCM, a German luxury brand, while also teaching at Korea University. He has a long history in the luxury retail and fashion industries, along with experience in venture capital, making him a valuable asset to both OpenAI and the wider AI revolution.
Overall, the AI revolution in the form of ChatGPT is something that is here to stay, but it is important to remember that AI can and should be used to assist humans, not replace them. Investors and skeptics alike must remember the ethical implications of AI while reaping the rewards in the form of increased productivity, efficiency and accuracy. Ultimately, only time will tell if ChatGPT turns out to be mostly hope or hype.
