Artificial Intelligence (AI)
ChatGPT, the free chatbot published by artificial intelligence (AI) research group OpenAI in November 2022, has swept the internet. In its initial few months of operation, ChatGPT prompted users to envisage a variety of use cases for the model, such as negotiating parking charges, creating fitness routines, and even writing children’s bedtime tales.
Some specialists in artificial intelligence feel that ChatGPT might transform how people engage with chatbots as well as AI in general.
This section examines this new technology and its potential for future financial gain.
Automated Customer Support Chat Systems
Simply said, ChatGPT is an artificial intelligence model that interacts in conversation. It is an example of a chatbot, similar to the automated customer support chat systems seen on several websites.
It was created by OpenAI, a tech research firm committed to ensuring that artificial intelligence helps mankind as a whole.
The “GPT” in ChatGPT stands for “Generative Pre-training Transformer,” which describes the manner in which ChatGPT analyzes language.
Create Human-Sounding Text
To test ChatGPT, Investopedia requested it to “create an essay in journalistic manner describing what ChatGPT is.” The bot replied that it was “programmed to create human-sounding text in response to a specific trigger or dialogue.” Due to its training on a corpus of human interactions, the system can comprehend context and purpose and engage in more natural, intuitive dialogues.
ChatGPT said in its answer to our prompt that its applications may include customer care bots, the generation of material for social media or blogs, and the translation of text across languages.
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How Does ChatGPT Make Money?
OpenAI, the startup that developed ChatGPT, has not yet commercialized it on a large scale. As of 11 January 2023, ChatGPT was available for free on the OpenAI website. According to ChatGPT’s response to Investopedia’s inquiry, the firm does offer the application programming interface on a subscription basis to companies seeking to apply the concept for their own purposes.
OpenAI announced in mid-January 2023 that it will introduce a premium version of ChatGPT dubbed ChatGPT Professional. According to reports, the commercial version of the model would have privileges such as no blackout windows, an unlimited amount of chats with the bot, and other incentives.
Popularity of ChatGPT
The viral popularity of ChatGPT might be worth a fortune to OpenAI, which Elon Musk co-founded.
The model garnered one million users within one week of its release.
And two months following the introduction of ChatGPT, OpenAI proposed the prospect of selling existing shares in a tender offer, which would set the company’s valuation at almost $29 billion and position it among the most valuable companies.
OpenAI as it Plans to Employ ChatGPT
Microsoft Corporation (MSFT) might spend $10 billion in OpenAI as it plans to employ ChatGPT to enhance its Bing search engine.
ChatGPT is an advanced AI bot that participates in human-like conversation in response to a request. It is meant to react in a natural and intuitive manner and has several possible applications. Shortly after its introduction in November 2022, the bot reached one million users within a few days due to its viral popularity.
Concerns exist over the possible abuse of the bot by hackers, disinformation spreaders, and other undesirable actors.
OpenAI, the developer of ChatGPT, intends to provide a paid professional version of the model and is exploring a $29 billion tender offer.