AI, banking, ML

ChatGPT, Boon or Bane?

ChatGPT is all over the news now. News outlets, tech blogs, and tech forums are praising its functionalities and capabilities, with few highlighting its dangers. The word ChatGPT is trending, but only a few know the inner functionings and details. In this blog, we will cover the fundamentals of ChatGPT, as well as gloss over its advantages and drawbacks.

What is ChatGPT?

ChatGPT is an extensive language model developed by OpenAI that is trained on a massive dataset of internet text to generate human-like text.  OpenAI is a research organization that pioneers development in the fields of machine learning and artificial intelligence.

The main functionality of ChatGPT is to mimic human conversation and provide concise, brief information on a variety of topics and issues. It was founded back in 2015 by Elon Musk, Ilya Sutskever, Wojciech Zaremba Greg Brockman, and Sam Altman.

Following ChatGPT’s successful deployment, OpenAI has been valued at $29 Billion USD.

Source: Forbes

What does ChatGPT work on?

ChatGPT as mentioned before is an extensive language model that works alongside AI-trained (Artificial Intelligence) models to provide users with an immersive experience via text formats.

This language model works on Reinforcement Learning from Human Feedback or RLHF (Reinforcement Learning from Human Feedback), which can reject inappropriate inputs and train itself to provide the most optimized solution to all users’ queries.

How are people using ChatGPT?

OpenAI deployed ChatGPT as a web-based platform that allows users to access the feature-rich application once they have registered themselves on the platform.

It took ChatGPT 4 days to hit a million users, which is a major milestone in the tech world. To put things into perspective, Instagram took around 3 months to reach the same user pool.

The internet is currently flooded with the uses of ChatGPT with numerous media houses flouting its capabilities and functionalities, some of them being: 

  • Coding: ChatGPT provides a very detailed walkthrough to any coding problem that is queried to it, something that has raised eyebrows in the developer community.
  • Poetry: Users have been reported to use ChatGPT to throw out lines of poetry and renditions of poems.
  • Summarising content: ChatGPT does an excellent job of summarising paragraphs of content, which can be useful for users as well as media houses.

Advantages and limitations

One of the main advantages of ChatGPT is its ability to understand and respond to a wide range of human language inputs. This makes it well-suited for tasks such as language translation, text summarization, and dialogue systems. Additionally, ChatGPT is highly accurate and flexible, making it useful for a wide range of natural language processing tasks. However, it is important to keep in mind that ChatGPT’s knowledge cutoff is 2021 so it cannot provide information that is beyond that date.

However, some people have expressed concerns about the implications of such a powerful technology. For example, there are worries that ChatGPT could be used to create deepfake videos, impersonate people online, or even spread disinformation. There are also concerns about the ethical implications of using a machine to generate human-like text.

Another concern is that, as ChatGPT and other AI models continue to improve, they could potentially replace human workers in certain industries. This could lead to job losses and economic disruption, which is a concern for many people.

ChatGPT 4.0

OpenAI is currently working on ChatGPT 4.0, which is rumored to be a bettered, more enhanced version of the current tool.OpenAI has claimed that ChatGPT 4.0  will have 100 trillion parameters as opposed to the 175 billion parameters ChatGPT 3.0 is trained upon.

One of the most exciting new features of ChatGPT 4.0 is its ability to understand and respond to context. This means that it can take into account what has been said before in a conversation and use that information to generate more relevant and appropriate responses. This makes it well-suited for tasks such as dialogue systems and text summarization.

Additionally,  ChatGPT 4.0 has the ability to handle multiple languages. With this version, it can switch between different languages seamlessly and generate text in a variety of languages. This is especially useful for translation tasks and for applications that require multilingual support.

Another new feature of ChatGPT 4.0 is its ability to generate text in different styles, including creative writing and technical writing. This allows it to be used for a wide range of applications, from content creation to technical documentation.

Overall, ChatGPT 4.0 is a significant improvement over its previous version and is poised to revolutionize the way we interact with language-based technology. 

What’s next for ChatGPT?

Source: OpenAI Blog

Microsoft has invested $10 billion in OpenAI and is actively looking to include the functionalities of ChatGPT in its products, in addition to the introduction of ChatGPT in Microsoft Azure services.

Google has raised a red alert post the deployment of ChatGPT. The Silicon Valley-based tech giant is alarmed by the high assertiveness of ChatGPT which may one day pose a major threat to Google’s cash cow, Google Ads.

ChatGPT is definitely a major technological advancement, but its positives outweigh its’ negatives. However, the impact either positive or negative, and the ripples it will create across the tech world are to be watched with bated breath.

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Article by:
Vibhav D, Sales and Marketing Intern.

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