In November 2022, Open AI released a new chatbot called ChatGPT using its innovative GPT-3 technology. In the two months since then, the bot has gone on to revolutionize the world of AI language processing.

What is ChatGPT and what is a language-processing AI model? Today, we’re sharing everything you need to know about the project that’s gone viral and what it could mean for your business.

What Is a Language Processing Model?​

To understand why this new AI technology is making waves, it’s important to know how language-processing AI models work. While the term might sound complicated, it simply refers to a software program that can understand human language as it’s spoken and written.

Once it understands the language, the program can then gauge exactly what to generate as text.

ChatGPT and AI: Understanding the Basics​

Before we dive into how this AI technology is changing the business landscape, let’s take a step back. What do all these terms and acronyms mean?

We’ll start with GPT-3. This stands for Generative Pretrained Transformer 3. This is the state-of-the-art language processing AI model that OpenAI developed. It can create human-like text, which can be used in a wide range of applications, such as:

• Language translation
• Language modeling
• Generating text for chatbots and similar tools

With 175 billion parameters, GPT-3 is one of the largest and most robust language processing AI models to date. While it has an enormous creation capacity, right now its most prolific and common use is creating ChatGPT.

ChatGPT is a chatbot, but it’s not like any you’ve seen before. This chatbot creates and delivers text in an incredibly human-like, well-written format. Users can choose from a range of worded prompts to give this trained AI tool, and it will “read” each one.

These prompts can be in a variety of different formats, including questions or topics of your choosing. Once ChatGPT reads it, it can create a response that sounds eerily human-like, and spot-on in terms of context, spelling, grammar, and other constructs.

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How Can I Use It?​

Compared to Open AI’s other chatbot, Dall-E 2, ChatGPT does have some limitations. For instance, you can’t use it to create different types of media, such as:

• Video
• Images
• Sound

Right now, its parameters are text-based, only. However, don’t let that fool you. While it might only do one thing, it does that one thing better than any other competitor to date.

In fact, ChatGPT has such an in-depth knowledge of the spoken and written word that it can write about nearly anything imaginable. It can construct poems, write product descriptions, create full-length research papers, compose blog articles, and even break down complex scientific theories into simple, readable terms.

Let’s revisit that last point again: One of ChatGPT’s greatest strengths is its ability to simplify complex topics. Not only can it break down the most complicated, intricate topics into easy-to-understand articles, but it can do so in a matter of seconds.

How Was It Trained?

Where does ChatGPT get all this knowledge? Likely, where you get yours: the internet. Open AI trained the bot using online text databases, including 570GB of data containing 300 billion words.
It obtained this data from a variety of sources, including:

• Wikipedia
• E-books
• Webtexts
• Articles
• Other pieces of online writing

Does It Have Limits?​

There are limits to what ChatGPT can do. If your prompt is too complicated or too niche, the bot can have a hard time deciphering what exactly you want it to create.

Likewise, it isn’t fully adept at talking about recent events. If something occurred after 2021, ChatGPT hasn’t built up its internal knowledge base enough to talk authoritatively about it. As such, it could create an inaccurate or incomplete response.

Other times, its limits are self-induced. Developers programmed ChatGPT to stop users from asking inappropriate questions or requesting information on topics that could be dangerous.

What Does the Future Hold?​

It may be a while before ChatGPT becomes widely available for commercial and individual use. Currently, Microsoft is looking at integrating its abilities into its search engine, Bing. Though the jury is out on whether the $1 billion investment will be enough for Bing to overtake its biggest competitor, Google, this move marks one of the biggest and most daring in the company’s history.

It may also be one of the riskiest. Currently, ChatGPT isn’t fully devoid of bias, which can occur in some instances. This could pose a major issue with the Bing integration, though such errors should be resolved before the system goes live.

For business owners, the development of ChatGPT is just one more step forward in the field of AI technology. For years, we’ve wondered where artificial intelligence will take us, and what kinds of applications it could support. Now, we’re a little deeper into the iceberg, and Open AI continues to lead the way.

In addition to ChatGPT and Dall-E 2, Open AI has already made a slew of other tools including a highly intelligent chatbot and an AI image generator. Currently, it’s working on a way to create 3D models using worded prompts — a project known as Point-E.

Using AI in Your Business

The popularity of ChatGPT and AI in general reveals the direction that modern business is taking. Gone are the days when manual inputs were the only way to manage customers or manufacture products. Now, companies are embracing automation, digital transformation, and intelligent tools, like ERP software, that make everyday work easier.

Could AI be a smart investment for your company? If so, which areas could it benefit the most? To learn more about this promising technology and its many applications, contact our ERP consultants below.

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