ChatGPT is a language model developed by OpenAI that can be used for natural language processing tasks, such as, text generation and language translation. In comparison to its predecessor, InstructGPT, ChatGPT attempts to reduce harmful and deceitful responses to the users. ChatGPT is based on the GPT-3.5 (Generative Pretrained Transformer 3.5) series model, which is considered as one of the most advanced language models available in the market with 175 billion parameters. GPT-3.5 uses GPT-3 as the base model which was trained using 570GB of dataset gathered from the internet.
Features of ChatGPT :
ChatGPT has below-mentioned key features and capabilities that make it a powerful and useful language model:
Human-like responses: ChatGPT has been trained to generate responses that are similar to how a human would respond in a given situation. This allows it to engage in natural, human-like conversations with users.
Contextual awareness: ChatGPT is able to maintain context and track the flow of a conversation, allowing it to provide appropriate responses even in complex or multi-turn conversations.
Large training data: ChatGPT has been trained on a large amount of text data, which has allowed it to learn a wide range of language patterns and styles.
Handle inappropriate requests: ChatGPT has been designed to refuse inappropriate requests with an intention to prevent its misuse.
Applications of ChatGPT :
It can explain complex subjects: One can cut its research time by a substantial amount while using ChatGPT to find definitions for complex subjects.
It can be used to write blog posts: ChatGPT can create informative blog post which only needs some structural changes to make it better.
It can be used to generate video scripts: ChatGPT is a perfect tool for generating video scripts, which can otherwise take a lot of time to create.
It can be used to create product descriptions: ChatGPT can create product descriptions which is helpful for e-commerce websites that need to create illustrations for every product. ChatGPT can help them save money and time.
Despite the large training dataset, enormous number of parameters, and other technical features, just like every other technology, ChatGPT has its limitations. Some of the limitations of ChatGPT are:
It is a general-purpose chatbot which, in many cases, may not be as accurate and authentic as a purpose-built chatbot.
Sometimes, ChatGPT may provide incorrect or false answers which may sound correct due the way the model has been trained. During training, there is no source of truth in the training data.
The response by the model depends on the way input query is phrased. Inputting the same query with some rephrasing may result in a different answer or no answer.
The content moderation imposed by the model may, sometimes, be bypassed by miscreants to gather unlawful and anti-social information.
OpenAI Brief History, Investments, and Valuation
ChatGPT’s developer OpenAI was founded in 2015 by Sam Altman, Elon Musk, and others. OpenAI received an initial funding of USD 1 billion as donation. Some of the initial donors included AWS, Infosys, YC Research, and Peter Thiel among others. In 2018, Elon Musk resigned from the OpenAI board to avoid any future conflict with Tesla’s AI efforts. In 2019, Microsoft invested USD 1 billion in OpenAI with an agreement to jointly develop Microsoft’s Azure AI supercomputing technologies. Now, it has been reported that Microsoft is planning to add further investment with a vision that OpenAI can work on integrating its AI technology with other Microsoft products. Microsoft also has plans to incorporate OpenAI’s ChatGPT chatbot into its Bing search engine. ChatGPT integration will allow Bing to provide complete sentences in response to search queries rather than lists of links. It can be a gamechanger for Microsoft Bing and enable Microsoft to compete with Google in search engine market.
In first week of January, ChatGPT developer OpenAI was considering a tender offer valuing the company at USD 29bn, making it one of the most valuable US startups. OpenAI is now considering options to monetize ChatGPT and announced that it may soon launch an experimental paid version named ChatGPT Professional.
There are several other companies, most notably Alphabet and Meta, that have been working on similar platform. However, unlike OpenAI, Alphabet and Meta have been hesitant on making their AI models publicly available citing some reasons. While people were aware of AI’s potential, ChatGPT has shown the current capabilities of an AI engine and created a buzz around chatbots. While ChatGPT is riding high on the current hype, it is to be seen whether ChatGPT is able to contain its unethical usage and become profitable in a long term.