ChatGPT is a powerful chatbot launched in Nov 2022. It can be defined as the “Generative Language Model”. In the first month, ChatGPT gained more than 50 million users across the globe and it has been backed by a 10 Billion Dollar Investment of Microsoft in Oen AI. This figure is itself demonstrating the success of ChatGPT in its early stages of foundation and still working to get better future perspectives.
To make it more understandable, ChatGPT is a long-form question-answering artificial intelligence chat that can hold natural conversations and make tasks accurate. It provides human-style responses to all requests. Its responses are less robotic and more intelligent. ChatGPT is a helpful software program that assists in recipe formulation, writing poetry, giving tips for the next party, text translation etc.
You can think of ChatGPT like Google but on STEROIDS. The only difference is it gives results in a conversational form instead of 1000s of search results online.
ChatGPT comes with amazing features and functionality that can challenge incorrect premises, answer follow-up questions, admit mistakes and also reject wrong requests. It is an intelligent chatbot that more or less functions like a person who reacts immediately to what users say to him.
Did You Know? #FoundationChatGPT
ChatGPT was founded by a leading San Francisco startup “OpenAI” on 11 Dec 2015. Open AI is an AP research and development company. The aim behind ChatGPT development is simple “To ensure artificial general intelligence can benefit humans”.
ChatGPT goes beyond the normal chatbot. It gives suggestions to statements and thus, guides the computer system to talk to you in an intelligent manner.
In the past few months, ChatGPT has gained a lot of popularity. People are talking and discussing the pros and cons of ChatGPT every now and then in India and other countries.
(1) ChatGPT in IT Sector:
ChatGPT sets a new record in the Information Technology industry. It helps developers in creating websites and mobile apps.
Through ChatGPT, developers can ask for help in writing codes from scratch following a specific scenario. This helps the development team to streamline their workflow, reduce development expenses, create apps in less time, and thus increase overall work productivity.
However, a recent report suggested chatGPT is a “deflation driver” and might harm Indian IT companies in short term. Read here why so?
(2) ChatGPT for Business Marketing:
ChatGPT is a very useful assistant to revolutionize everyday business marketing tasks. This can be used in business in different manners. It helps marketing consultants and executives to create compelling content, chat with customers, and much more. ChatGPT comes with highly-advanced natural language processing capability, which thereby makes chatGPT more useful for business marketing. It assists in generating automated customer support responses, optimizing content with keywords for SEO, and creating result-oriented marketing campaigns.
(3) ChatGPT in Healthcare Domain:
ChatGPT is a revolutionary tool that can generate personalized conversations to provide healthcare services.
ChatGPT can revolutionize the way healthcare service providers interact with their patients. This helps in improving patient outcomes, decreasing healthcare expenses, and hence, enhancing the overall healthcare experience.
Through the power of artificially intelligent chatbots and machine learning capability, ChatGPT can automate scheduling patient appointments, giving online medical advice, and answering patients’ calls. On the basis of the medical history and preferences of patients, ChatGPT can also produce personalized messages for the patients.
Undoubtedly, ChatGPT will continue its explosive growth and demand in the year 2023. However, seeing the rapid change in development and deployment, it is crucial to distinguish advancements in the form of pros and distracting fads in the form of cons here.
ChatGPT offers a good number of benefits to users. Below are the top ones-
While ChatGPT has many benefits, it is essential to know its cons to utilize it more in an effective way. Below are some limitations-
(1) Integration with Virtual Assistants:
ChatGPT is compatible with other technologies too. It can easily integrate with existing conversational solutions like bots. This helps the development team to improve their existing bot solutions using NLP technology and AI without the need for more developers. With ChatGPT, IT companies can develop unique AI-powered chatbots for understanding users in real-time scenarios.
(2) More Secure Mobile Payments:
When it comes to mobile payments, people want a secure way and using ChatGPT is always a safer choice. ChatGPT offers a secure platform and convenience to pay through mobile devices.
By the end of 2024, the number of mobile wallets in users will increase to approximately 70% and reach 4 Billion.
(3) More Specific Business Use Cases:
ChatGPT model is fine-tuned on accomplishing specific tasks and working on some domains, it will become more specialized in 2023 and beyond. Businesses can get many advantages due to the increased accuracy and speed of natural language processing in ChatGPT. It allows customer support executives to fastly access and respond to FAQs of customers. The best thing is that it generates customer-specific data from AI algorithms that help give solutions to difficult queries.
What’s also smart about ChatGPT? You must focus on ongoing trends, improved outcomes, security and privacy that comes along.
ChatGPT is a natural language processing technology that helps in revolutionizing the way people interact with machines for their regular tasks. It helps computers to understand what human is trying to say and give response accurately in real time.
ChatGPT enables machines to learn from conversations and thus, produce more natural responses tailored to particular individual’s demands. It comes with endless possibilities and a great AI tool that helps businesses of various domains to stay ahead of their competitors in today’s highly competitive world.