What’s All the Fuss About ChatGPT?
The media are filled with breathless reporting on the ChatGPT revolution, replacing the metaverse as the “next big thing” in the minds of many investors. There’s good reason for the enthusiasm since it just may change work as we know it.
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What’s All the Fuss About ChatGPT?
The media are filled with breathless reporting on the ChatGPT revolution, replacing the metaverse as the “next big thing” in the minds of many investors. There’s good reason for the enthusiasm since it just may change work as we know it.
What is ChatGPT?
ChatGPT (Generative Pre-Trained Transformer) is a natural language processing tool that uses AI technology to enable human-like conversations with a chatbot. It was created by Open AI, a research laboratory founded by such tech luminaries as Elon Musk, Reid Hoffman, Peter Thiel and Sam Altman.
The technology allows a user to engage in human language conversations with a chatbot on a wide range of topics, from current events to Greek mythology. In addition to being able to engage in conversation, it can also be used to:
- write emails
- develop advertising copy
- write the “next great American novel”
- write and debug computer code
- recommend movies or books
Responses from ChatGPT can even mirror the mood of the user, replying in an upbeat tone or a cynical, negative one.
It’s a big hit, too. ChatGPT recently set the record for the fastest user growth this past January when it reached 100 million active users two months after launch.1
Implications for Work
As with most revolutionary technology, expect that many jobs will disappear and new ones will emerge. Among the many ways the tool can be used are:
- Customer service
- Mental health support
- Personal assistants
- Content creation
- Language translation
- Knowledge management
- Education/training
ChatGPT can even be used for mundane, tedious tasks such as writing resumes, preparing job seekers for interviews, grading tests (or taking them altogether!), performing research, and simplifying and summarizing content.
Current Uses in Business
Businesses are already finding ways to become more productive with ChatGPT. While Microsoft’s roll out in its Bing search engine received much of the attention, many other companies are using it.
One online network for health professionals is using it to help doctors with administrative tasks, while a corporate communications firm is using it to speed up press releases, brand stories and client bios. Shopify employs the tool for customer service and Morgan Stanley just rolled out an advanced chatbot powered by OpenAI to its 16,000 financial advisors.
And, ChatGPT 4—an advanced version of ChatGPT—has already been introduced, offering even greater capabilities. OpenAI, for instance, said that its ChatGPT platform scored in the 31st percentile in the Biology Olympiad, whereas ChatGPT 4 scored in the 99th percentile.
Innovation is a matter of life and business. The best way to be prepared—for opportunities and potential consequences—is to be aware. This could very well be the way of the future.
As a matter of record, this article was not written by a ChatGPT bot!
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