By now, you’ve probably heard of ChatGPT - the chatbot that was launched by OpenAI in November 2022 and that gained a jaw-dropping 1 million users in 5 days.
ChatGPT has been called a tipping point for artificial intelligence, mainly because this AI technology is suddenly becoming more useful to the broader population.
In this post, we’ll provide a practical overview of how ChatGPT works - in simple terms - and how you can make the most of this fascinating technology as a business owner.
Let’s dive in 🏊♀️
What is ChatGPT?
Put simply, ChatGPT is a powerful chatbot that can communicate in “plain English” (as well as in a wide range of other languages, expression aside).
What sets ChatGPT apart is its ability to generate responses that are more conversational and natural-sounding. This is because it uses a new training approach that uses a variety of data sources, including social media conversations and online forums. This allows ChatGPT to capture the nuances of human conversation, which other models may struggle with.
Because ChatGPT has been trained on a wider range of data, it can produce responses that are more varied and context-aware. This makes it better suited for tasks that require more conversational and nuanced language, such as customer service or virtual assistants.
How to get started with ChatGPT
To get started, you'll need to create an account on OpenAI and follow the instructions to set up a chatbot. Once your chatbot is set up, you can start using it for tasks like responding to customer inquiries, creating content for social media, and more. You'll also be able to customize the chatbot's settings to fit your specific needs.
Some of the examples, capabilities and limitations of ChatGPT are listed in the dashboard of ChatGPT, as seen in the screenshot below 👇
Capabilities of ChatGPT
Two of the capabilities that make it so powerful, compared to searching on Google, are that it:
remembers what the user said earlier in the conversation
allows the user to provide follow-up corrections
When searching for information or solving a problem you would otherwise search for on Google, it kind of feels like you’ve hired your own virtual assistant. Who is available around the clock, and can process large amounts of data quickly and accurately.
However, when asking “Are you better than a human virtual assistant?”, ChatGPT admits that it cannot “think creatively or outside the box” in the same way a human might. So don’t let go of your virtual assistants thinking ChatGPT can replace them. 👩🏼💻
Potential applications of ChatGPT
The possible applications of ChatGPT are truly limitless.
Customer service
One of the most exciting potential applications is in the field of conversational AI. For example, ChatGPT could be used to create virtual assistants that can hold more natural and engaging conversations with users. This could be particularly useful in customer service, where ChatGPT could help companies respond to customer inquiries more quickly and accurately.
Content marketing
Another potential application of ChatGPT is in content marketing. ChatGPT could be used to generate content for social media, email campaigns, and other marketing channels. Although the content generated usually requires a few final touches from an actual human writer, to fact check as well as ensure consistency with the tone of voice, this could help businesses save time and money - while still delivering engaging and personalized content to their customers.
A new process for creating SEO content, incorporating AI tools such as ChatGPT, might look like what is outlined in Content creation workflow 2.0, below:
In addition to the examples mentioned above, ChatGPT could also be used in a variety of other applications, such as:
Personalized news and content recommendation systems
Virtual event assistants for conferences and workshops
Chatbots for online communities and forums
Limitations of ChatGPT
Despite the potential of ChatGPT, there are still some limitations to be aware of. For one, it's important to remember that ChatGPT is still an AI-based technology, and it can make mistakes. For example, ChatGPT may not understand complex questions or produce responses that are off-topic. Additionally, ChatGPT can be limited by the data it has been trained on, so it may not be able to respond to out-of-the-ordinary inquiries.
It's also important to note that ChatGPT is still a relatively new technology, and it may take some time for it to reach its full potential. Businesses should be aware of this when implementing ChatGPT, and be prepared to adapt as the technology develops.
ChatGPT - the start of the AI revolution
ChatGPT is just the beginning of the AI revolution. In the future, generative AI models can be used to automate more complex tasks. This could open up a world of possibilities for businesses, from automating customer service to predicting trends in the stock market. We’re only scratching the surface of the potential of AI, and ChatGPT is a major step forward in this journey.
