A new tool that’s been making waves in recent times is ChatGPT, which is an application of artificial intelligence (AI) developed by OpenAI. The tool has become a hot topic of discussion in every internet search, trade conference, and meeting of recent times, and people around the world are wondering how it will impact their lives and businesses. AI is not a new concept, and we have been using it through tools like Apple’s Siri and Microsoft Word with its spellcheck and completion algorithms. However, what’s new is the real capabilities of today’s generative AI.
ChatGPT can do some pretty amazing things, but it’s important to remember that it is still in the infant stage of development. As of now, it has only been trained on 45 terabytes of data, which is equivalent to just 5% of what the world added to data just last year. In terms of comparison, the human brain’s memory capacity is estimated to be 2.5 petabytes, and it’s about five times faster than supercomputers running AI tools like ChatGPT.
Despite its limitations, there are many things you can do with generative AI tools like ChatGPT, Bing Chat, Bard, Character.ai, and others in your personal and business life. For instance, you can use ChatGPT to read every email you’ve ever sent, learn your speech patterns and preferences, and compose and respond to emails, prioritize your inbox, and schedule your emails. It can also generate content of all kinds, custom-tailored to your specific niche market. Additionally, it can help you with research, reading, learning, and summarizing things in your daily work.
However, it’s important to note that these tools are just the beginning, and they are set to become truly disruptive in the next few years as generative AI becomes democratized. To speed up the progress of these tools, nearly $2 billion dollars has been invested during the last three years in new start-up ventures just to expand the capability of the current tools.
These new tools have the potential to speed up work processes, create efficiencies, and potentially eliminate the work done now by many people. But while that is scary, we must remember that these machines are only tools, and those who adapt to AI will have a brighter future. Those who don’t, may have no future at all.
