How can companies effectively harness the capabilities of ChatGPT, and what should we expect from it in the future?
ChatGPT (Chat Generative Pre-trained Transformer) is a chatbot created by OpenAI based on generative artificial intelligence technology. The core of the chatbot is the GPT-3 language model transformer, developed in 2020.
GPT can serve as both an excellent conversation partner for individuals and an assistant for businesses in solving specific tasks, such as replacing customer support agents, acting as a creative content author, or a source of new knowledge.
The operation of the GPT bot is based on analysing a vast amount of unlabeled data, giving it a tremendous advantage in knowledge base, response speed, and specificity. Thanks to terabytes of content from the internet, the service can quickly find information on any topic and instantly continue the conversation with the user by responding to their queries.
ChatGPT makes its decisions and answers based on more than 175 billion parameters — data, instructions, and scenarios on which it is trained.
1. Content generation
GPT quickly handles the creation of textual materials, including social media posts, website content, email newsletters, and more. ChatGPT can write in both a formal business style and creatively, mimicking the recognisable styles of famous writers or poets.
2. Writing and editing code
The AI model can confidently take on the role of a junior “developer” and quickly write simple code. If you want to check the correctness of your code, send it to ChatGPT for review — it will find and highlight apparent bugs.
It can also rewrite code from one programming language to another. While using the bot won’t replace a company’s entire team of developers, it can free up their time for tackling complex analytical tasks.
3. Working with images
OpenAI has recently announced that ChatGPT will now recognise voice and images. Plus and Enterprise users will soon be able to show and discuss images with the bot and have a voice conversation with it.
Other OpenAI models (such as DALL-E) can also work with images. They won’t replace a full-fledged designer, but their work can be confidently used as references for creating visuals.
4. Translating texts
Despite the bot’s native language being English, it “speaks” most of the world’s languages and can easily translate any text fragment from one language to another. Furthermore, the formal translation it provides can be made more conversational by requesting ChatGPT.
5. Solving mathematical tasks
The neural network is helpful for students and scholars to quickly answer math questions of varying complexity. The bot handles algebra and probability theory problems well, but verifying its solutions and answers is still good practice.
6. Composing music
ChatGPT is just as capable in the realm of music as in any other field, whether it’s coming up with song lyrics, composing melodies, selecting chord progressions, or providing answers to music-related questions.
ChatGPT’s functional capabilities significantly expand its range of applications, but it is most commonly used as a conversational solution. The chatbot can reduce the workload on customer support operators or serve as their virtual replacement.
We invite you to read our detailed article on using Generative AI in business with several real-world examples and ready-to-use prompts.
The AI technology is actively integrated into existing conversational solutions today: chatbots, voice assistants, and AI companions. For example, GPT chatbots free up operators’ time and handle frequent search queries around the clock, even when operators are unavailable.
GenAI can also help build and maintain a brand’s audience engagement. It personalises communication with each user because it already knows the context of their interaction with the brand — what the customer was interested in in the past, what products or services they purchased, and what potential queries they may have in the future. In conversations, the bot behaves like a real person, asking for clarification if a query is unclear, posing follow-up questions, and even making appropriate jokes.
This intelligent chatbot comes with a vast list of capabilities but is not without its drawbacks. Let’s explore the strengths and weaknesses of the service to understand how to use its potential most effectively.
+ Ease of use
Interacting with ChatGPT is simple — it resembles a chat conversation. You send a question to the chatbot via a message, and it processes it and responds with a message. If clarifications or revisions are needed, you can specify the task within the chat, and the intelligent assistant will adjust the response accordingly.
+ Wide range of capabilities
OpenAI’s product portfolio is impressive. ChatGPT can address not only business tasks but also educational ones. There have been cases where it assisted in passing exams or even writing a student’s thesis.
+ Realism of responses
The bot’s responses are so realistic that even advanced users of AI technology are impressed. It generates such a quantity of high-quality content that, at times, it’s indistinguishable from content written by a human expert in the subject matter.
+ Fast response times
ChatGPT’s quick response time is another advantage. It generates answers to any, even the most complex questions, in a matter of seconds, and this does not compromise the quality of its responses.
+ Free access
Free access allows users to utilise the full functionality of the bot without limitations.
When it comes to the limitations of the chatbot, users often complain about the following drawbacks:
- Inaccurate responses
The results of the GPT bot’s work depend on the quality of the collected and analysed data, which can be incorrect or outdated. ChatGPT is trained on a dataset that includes text from the internet up until September 2021.
Additionally, the correct prompt (question formulation) plays an important role. Learn techniques for crafting effective prompts to ensure relevant and accurate results.
- Not 100% reliable
The second most significant drawback of ChatGPT is its lack of complete reliability. In some fields, relying only on verified sources of information is crucial. When using artificial intelligence, we never know which data it used to generate the response.
In an enterprise setting, this problem can be addressed by developing AI language models equipped with enhanced long-term memory and controlled output to improve efficiency and reliability. To make the behaviour of the language model more predictable and avoid liability issues, it is essential to restrict its context to business-related data.
- Lack of legal regulation
The absence of legal regulation of the bot’s operation is already a problem today, and with the development of the service, it may only worsen. The company that created the bot is developing a usage policy for its solution, but its operation currently does not adhere to formal laws.
- Occasional verbosity
ChatGPT is occasionally criticised for its verbose reasoning. Its responses can be vague and formal, making it challenging to discern the real essence of the answer behind eloquent wording.
- Copyright infringement
To form responses, ChatGPT uses data from open sources (including copyrighted ones) without obtaining permission from the copyright holders.
- Service glitches and occasional slow performance
Another drawback resulting from the product’s popularity among users worldwide is occasional service glitches and slow performance. OpenAI’s infrastructure sometimes struggles to handle all customer requests, leading to noticeably slower operations or errors.
Despite its flaws, ChatGPT still represents a significant breakthrough in the field of artificial intelligence development. It opens up new possibilities for automating business processes and improving customer service in various industries. The number of use cases for chatbots in business is continuously growing — today, companies are already leveraging ChatGPT’s capabilities in marketing, sales, hiring, management, and other areas of operation.
In the near future, we can expect model refinements, eliminating its limitations, and creating even more advanced solutions based on ChatGPT.
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