Unless and until you are a Luddite, you have probably noticed how the internet is enthusiastically buzzing on the launch of ChatGPT since November 2022.
From early times, people have been fearing the advancement of Artificial Intelligence (AI). Because who knows those AI bots may take over humans! However, the Millennials welcome such innovations with excitement. After all, who doesn’t want to evolve? One such creation is ChatGPT. This is the latest form of AI that has finally come to the limelight after the establishment of its parent company OpenAI in 2015. You must be pondering over several questions like what is it, who owns it, whether it is profitable for the investors or creators, how to make the best of it, and so on. Therefore, this article presents detailed information about ChatGPT.
What is ChatGPT?
As the name suggests, ChatGPT is the latest form of a chatbot. The acronym “GPT” refers to “Generating Pre-Training.” OpenAI launched it after tons of research and trials. Sounds like a sibling of Alexa or Seri. Right? But to your surprise, it is way more than that! You can consider it like a bot that can mimic conversations like humans. Still confused? You can simply talk to it because it can answer everything like humans. You can ask questions about physics, and get ideas for birthday parties or get-togethers.
Also, you can ask it to write essays, poems, jokes, and many more kinds of stuff. It is based on GPT-3.5 i.e., a language model that is trained and optimized to produce texts, and conversational dialogues, and respond with relevant answers that sound quite natural.
Who owns Open AI?
OpenAI is an artificial intelligence research company. It is present in San Francisco (California, USA). It is a non-profit company founded in 2015. The key founders were Sam Altman, Elon Musk, Greg Brockman, Reid Hoffman, Jessica Livingston, Peter Theil, Amazon Web Services (AWS), Infosys, Microsoft, and YC Research. They pledged over $1 billion to this venture. The core objective was to develop a friendly artificial intelligence that is beneficial for society. One of its latest creations is ChatGPT- an Ai based text generator. Similarly, it also created Whisper and DALLE-2. The former is an automatic speech recognition system whereas the latter is an AI image generator.
How does ChatGPT make money?
Astonishingly, the free preview of ChatGPT received more than one million sign ups within the first five days of its launch. Even though the OpenAI company has not monetized ChatGPT yet! As of 18th January 2023, you can freely use it through the official website of OpenAI. On asking ChatGPT itself, it said that the company sells the programming interface of the application based on the subscription. Recently, they announced the launch of a paid version of ChatGPT. Here, you will enjoy multiple benefits like the absence of blackout windows, an unlimited number of messages or texts with the chatbot, and many other pieces of stuff.
The parent company has also sought to sell the existing shares which would increase the value of the company up to $ 29 billion. Also, Microsoft Corporation will soon invest a jumbo $10 billion in OpenAI to incorporate ChatGPT into their Bing search engine.
Based on the survey by Reuters, ChatGPT will aid OpenAI to earn revenue of over $200 million in the year 2023. Also, it is said that the revenue will increase tremendously up to $1 billion in 2024. Thus, it will become one of the most successful and worthy startups ever!
Some of the best use cases
Open AI revealed that ChatGPT uses RLHF, a machine learning technique. RLHF is Reinforcement Learning from Human Feedback. Do you know it can answer some weird questions too like “Create a piano note in the style of Mozart?” It can also create engaging conversations and can also admit mistakes. You can make some of the best uses out of it-
- Simulate dialogues
- Compose emails
- Follow-up queries
- It can reject inappropriate requests like something related to illegal activities.
- Digital Marketing
- Online content creation
- Answering the questions of the customer
- Prompts for AI art generators
- Acting as a virtual cloud
- Future of (EdTech) Education Technology
- Help with SQL Queries
- Alternative to search engines (Google, Bing)
- Create recipes
- Develop apps
- Generating summaries out of long documents
ChatGPT is one of the most powerful AI-based bots with more than 175 billion parameters. Its parent company specially designed it to respond to queries or orders naturally and intuitively. However, it raised some concerns as well like misuse of the service by the hackers, misleading information, or the spreading of rumors, etc. To prevent these sorts of incidents, the company has implemented a Moderation API that helps the developers determine any kind of misuse or negative impact. Thus, ChatGPT is a revolutionary move in the field of AI!