What Should You Know About ChatGPT, And Why Does It Matter?

What Is ChatGPT?

ChatGPT, also known as the Chat Generative Pre-Trained Transformer, is an artificial intelligence (AI) powered by the GPT-3 family of large language models developed by OpenAI, which is an American AI research laboratory or organisation.

It has been making headlines one after the other since it was launched on 30th November 2022.  This AI tool uses machine learning algorithms to generate text based on the input it receives. ChatGPT is trained on a large corpus of text data and can respond to a wide range of topics, from simple questions to more complex conversation topics. It is designed to engage in human-like conversations, providing relevant, coherent, and informative answers.

The GIF below shows the brief look of ChatGPT’s interface that users will see as soon as they sign up and where they can type in their queries. 

How Does ChatGPT Work?

ChatGPT is a Large Language Model (LLM), which is an artificial neural network trained on massive amounts of data to perform various language tasks like answering questions, generating step-by-step instructions, and more. 

This AI tool is now one of the largest and most powerful LLMs available, capable of performing a wide range of language tasks with human-like accuracy and fluency. The use of large amounts of training data and sophisticated deep-learning techniques has enabled LLMs like ChatGPT to achieve impressive results in many Natural Learning Process (NLP) tasks.

NPL is a subfield of computer science and AI that focuses on the interaction between computers and humans using natural language. ChatGPT uses this tool that is driven by AI technology, allowing users to have human-like conversations based on the input it receives. 

Growth Of ChatGPT

ChatGPT is growing in popularity, and more people have been integrating the AI chatbot into their daily lives, whether for personal or business use. To feed your curiosity about ChatGPT, below are some of the ChatGPT Statistics that you need to know:

1. ChatGPT Attracted 1 Million Users in a Week

After ChatGPT was released and became available for public use, it reached 1 million users within five days. Greg Brockman, Open AI Co-Founder, shared this news on his Twitter account. 

2. 100 Million Monthly Active Users

The popularity of ChatGPT continues to grow, and it currently has 100 million monthly active users. USB study stated that ChatGPT is setting the fastest-growing user base in history.  

3. Microsoft Plans To Invest Another $10 Billion Soon

After investing $1 billion in 2019, Microsoft has the plan to invest another $10 billion. Given the rapid growth of ChatGPT and its popularity, it is not surprising that it is now gaining more investors. 

Took this screenshot on the Official Microsoft Blog. 

4. OpenAI Projects $1 Billion In Revenue By 2024

If the rapid growth of ChatGPT continues, Reuters reported that OpenAI projected that they will be able to generate and reach $1 billion in revenue by 2024. They anticipate receiving the first $200 million sometime in 2023. 

5. ChatGPT Backed By Investors

As it can generate human-like responses, ChatGPT continues to take the world by storm. Along with Microsoft, ChatGPT is backed by investors, including Khosla Ventures and Reid Hoffman, LinkedIn co-founder. With their help, OpenAI can continuously refine and improve ChatGPT, making it one of the best chatbots available.

How To Use ChatGPT?

ChatGPT can be used in a variety of applications that require a conversational interface. To use ChatGPT, you will typically need to perform the following steps:

ChatGPT will provide you with answers related to your concerns. To get accurate results, be more specific with your prompts. It is important to be detailed with your prompts for ChatGPT, as this leads to more accurate and relevant responses. 

Detailed prompts provide context, avoid ambiguity, allow for better understanding, improve response quality, and increase relevance. By being detailed, you can ensure the conversation with ChatGPT is more accurate and productive.

ChatGPT VS Search Engines

ChatGPT and search engines are both AI-powered tools that can process and generate text, but they differ in their approach and the type of tasks they are designed to perform.

ChatGPT is a language model created to converse with the end user. It uses its training on a large corpus of text data to generate human-like responses to questions, complete sentences, generate new text and perform other NLP tasks. 

For ChatGPT, it only generates one answer in a user’s single prompt. It does not offer a wider range of options for the user to find out more information, unlike search engines. After all, ChatGPT only uses the information it learned from training data to generate a response, and it cannot search the internet for the latest updated information, which leaves room for less accurate answers. 

On the other hand, search engines like Google, Yahoo, and Bing, are designed to search and retrieve information from a large database based on a user’s query. They return relevant results, often in the form of links to websites, that answer the user’s question or provide information on a particular topic. 

A search engine indexes the web pages on the internet to help the user find the information they asked for online. Businesses create SEO campaigns to drive the traffic to their websites, which help increase ranking and online presence, allowing more targeted audiences to come across their brands on the search engine result page. 

Google unveiled the next phase of their AI journey on February 6, 2023. With the use of Language Model for Dialogue Applications (LaMDA) technology, the search engine has been creating the experimental conversational AI service called Bard.

Took this GIF from Google’s News Released About ‘An important next step on our AI journey’.

Bard, like ChatGPT, is a new chatbot powered by LaMDA that has been trained on a massive amount of data online to generate responses to user prompts. The only distinction between Bard and ChatGPt is that Bard will draw information from the internet to provide fresh, high-quality responses.

“Bard seeks to combine the breadth of the world’s knowledge with the power, intelligence and creativity of our large language models. It draws on information from the web to provide fresh, high-quality responses.” – Sundar Pichai, CEO of Google and Alphabet

Google is now taking a significant step forward by allowing trusted testers access to the service, with plans to make it available to the public soon. This coming March 2023, Google plans to test and try Bard with the help of selected people.

5 Limitations Of ChatGPT

Every human-created technology has some limitations, and ChatGPT is no exception. If you have plans to use ChatGPT, below are some of the limitations of ChatGPT that you can expect.

1. ChatGPT Is Unable To Denounce Insight

Even though ChatGPT has been trained on a vast amount of information, it lacks insight into the topic. Its generated content can somehow have no depth and context. After all, unlike humans, ChatGPT has no real-life experience and subjective perceptions.

You may expect that this AI chatbot, ChatGPT, may struggle with tasks that require a deeper understanding of the world, such as reasoning, problem-solving or making inferences.

2. Difficulty With Ambiguity

ChatGPT has been trained to generate responses based on patterns in language data, but it may struggle with questions and statements that are ambiguous or have multiple interpretations. That can lead to ChatGPT trying to keep its answers neutral.

In other words, ChatGPT may always generate neural responses. That means the answer may not be very specific to what the end user is looking for. To avoid this, make your prompts as detailed as possible.

3. Inaccurate Information

Although ChatGPT was trained on a diverse range of information, it may still produce outdated responses. As shown on ChatGPT’s welcome screen, it has limited information about the world and current events after 2021. 

You can expect that the content it generates may contain errors or outdated information, and ChatGPT has not been specifically programmed to fact-check its responses.

Took this screenshot from ChatGPT’s welcome screen.

4. Empathy Deficiency

ChatGPT is a machine learning model and does not have the ability to experience emotions, empathy, or compassion. That means that ChatGPT may respond in ways that seem insensitive or inappropriate, particularly in sensitive or emotional situations. 

When using ChatGPT, whether for personal or business use, it is extremely vital to verify and fact-check its responses before relying on them.

5. ChatGPT Responses Cannot Provide Live Data

ChatGPT may respond to inquiries, but its responses do not include live data. For example, the user is looking for famous restaurants around them. Unfortunately, ChatGPT cannot determine the user’s location, so  it cannot provide the answer to the inquiry shown in the image.

Besides location, ChatGPT cannot also not answer time-sensitive queries. In other words, it is unable to generate answers that require live data. 

OpenAI Releases GPT-4

On March 14, 2023, OpenAi released GPT4, which has the most advanced system, so users can expect it can generate safer and more helpful responses. OpenAI stated that GPT-4 could resolve complex problems with greater accuracy thanks to its better qualities:

Creativity

Unlike the previous model, GPT-4 is more creative and can handle nuances prompts better. Besides generating AI content, this latest model can edit, iterate, and learn the user’s writing styles.

Visual Input

Another factor that makes GPT-4 better is that it can accept images uploaded by the user and generate something from it, whether a caption or classifications.

Longer Context

GPT-4 can have problems with lengthier AI material of up to 25,000 words. That is good news for users who intend to use GPT-4 content creation, extended dialogues, and document search and analysis.

Even though GPT4 is smarter and more capable than the previous mode, users can expect that it is still prone to making straightforward logical mistakes because it is unaware of what will happen after September 2021.

To use GPT-4, users need to subscribe to ChatGPT plus to take advantage of GPT-4’s capabilities.

How Can Marketers Use ChatGPT?

Marketers can use ChatGPT in various ways to improve their marketing efforts:

1. Conduct Competitor Research

Conducting competitor research has never been easier, thanks to ChatGPT. With this AI tool, you can learn about your competitors, whether direct or indirect, in the industry. ChatGPT can help describe your opponent in more detail. Shown in the image below is an example of how to do competitor research on ChatGPT:

Retrieved this image from Search Engine Land. 

2. Create A SWOT Analysis For Your Company

Besides learning more about your competitors, it is extremely crucial to learn more about your company. Getting an objective overview of your company allows you to think things logically, which helps improve your decision making.

In this image, for example, the user is asking for a SWOT analysis for Toyota products, and here is how ChatGPT responded: 

3. Get Blog Topic Ideas

Brainstorming blog topic ideas can be challenging, especially when you are experiencing a writer’s block. With ChatGPT, however, you can overcome that situation. All you need to do is to prompt ChatGPT to provide you with blog topics on particular subjects. Here is an example:

Marketers can save their time thinking about what they should write next with ChatGPT. They can spend the rest of their day writing the entire article and do other daily tasks.

ALSO READ: 6 Blog Content Ideas That Generate Traffic To Your Website

4. Translate Languages

Language barriers with the clients? ChatGPT can resolve that issue. Since ChatGPT uses a LLM that was trained on diverse text, it can understand various languages. Currently, ChatGPT knows 95 different languages, such as English, Spanish, German, French, Italian, Portuguese, Dutch, Russian, and more. In addition, ChatGPT is proficient in a number of coding languages, including Python and Javascript.

5. Draft An Email Template

Sending emails can be bothersome, especially if you cannot find the right words to say that you have in mind. ChatGPT can help you with that. Just describe what you want and it can draft you an email template. Shown below is an example on how marketers can prompt ChatGPT to create or draft an email template. 

All in all, ChatGPT provides general answers, but it is recommended that the users should conduct a more thorough and current analysis or research for more precise information.

5 Creative Ways People Are Using ChatGPT

The use of ChatGPT is continuously trending as more people find creative ways on how to use ChatGPT. 

1. Plotting Movies

ChatGPT continues to gain popularity as many Twitter users have experimented its potential to write the upcoming Hollywood hit and the results are:

You may view GuyP Tweet’s thread here. 

You may view Andy Young Tweet’s thread here. 

2. Revamp Job Application 

Switching jobs is nothing new, but making a good impression on employers has been much more challenging than ever before. A simple resume/ CV and cover letter no longer work—that is where ChatGPT comes into the picture. It can help revamp every piece of information you have and make it more appealing, giving your job application an edge over other applicants. Here is the generated content of ChatGPT for a cover letter:

3. Have A Conversation

Life is full of ups and downs and some of these are hard to share with family and friends. Even though ChatGPT lacks empathy that humans can do, it can help relieve your stress in some ways. Think of it like writing a diary but it answers back on whatever thoughts you share. 

When having a conversation with ChatGPT, you should be mindful not to share any confidential information about yourself or anyone else like your contact number. Here is an example. 

4. Explore Recipe Ideas

Whether you are new to cooking or an actual chef, ChatGPT can help you explore recipe ideas. You can get inspiration of what you should cook next by prompting what dishes you can make with the ingredients you have. 

With ChatGPT, you can save yourself and family members eating the same dishes again. Even though you are using the same ingredients, you can create something else with them. Give it a try and cook something new today!

5. Suggest Movies/TV Shows

Have no idea what to watch on Netflix or Disney+? ChatGPT can give you some recommendations based on your favourite genre. Here is an example:

With this terrific method, you can discover new movies or TV shows you have watched before.

Conclusion

Despite ChatGPT’s advanced language processing capabilities, it is still limited by the amount of data it has been trained on and its inability to access full data on the internet. In other words, it is unlikely that it will take over the traditional search engines like Google which have been around for a long time. 

The existence of ChatGPT may come in handy in certain circumstances, but when it comes to leading traffic to a business’s website, SEO campaigns posted on search engines are the ones that can help. 

Contact OOm, a leading SEO agency in Singapore, at +65 6391 0930 or leave a message on our website to learn more about ChatGPT and its effect on SEO. 

Frequently Asked Questions (FAQs) About ChatGPT