The day has come – we’ve decided to jump into the ChatGPT bandwagon! After all, ChatGPT is one of the most “advanced” AI tools ever made available to us – so far.
Since its launch in November 2022, ChatGPT has inspired many discussions and broken unexpected records. It has set new standards, which will be challenging to match for many organisations.
It took our world by storm – by the end of the first week, Chat GPT already had around 1 million users!
Whereas many well-known companies, such as Instagram, TikTok, Netflix and Twitter, needed a few months to pique user interest and grow their popularity, ChatGPT did both in one week.
If you want to get familiar with ChatGPT or you’re already a loyal user – here are some interesting statistics and facts that show the power of this impressive AI tool.
Let’s dive in!
What is Chat GPT?
Chat GPT is an innovative AI tool based on a natural processing language (NPL) model developed by OpenAI. One of the most funded machine learning start-up companies in the world.
They started developing Generative Pre-trained Transformer or GPT in 2018, laying out the foundation of the tool we use today by creating GPT-1 and GPT-2.
They have made it possible to make AI systems that are smarter, more interactive, and better able to understand and respond to human language.
This is why GPT-3 is considered one of the key drivers of the modern conversational AI industry. However, the most advanced OpenAI system (at least so far) is the system GPT-4.
It’s basically an upgraded version of GPT 3.5, which ChatGPT uses.
A Look at Impressive ChatGPT Results
Since the first day of launch, ChatGPT has threatened to revolutionise how we communicate and work.
Trained on a large corpus of text data, this machine-learning model became a popular choice for many people across different industries.
It’s estimated that it receives 10 million queries per day, and in January 2023 reached the milestone of 100 million active users. So, it’s unsurprising that OpenAI expects to hit significant revenue soon.
According to some sources, the company expects $200 million in revenue this year alone.
At the same time, a single training run is estimated to cost $12 million.
The use of ChatGPT in your business is quite impressive!
You can use ChatGPT for many things, such as content and email writing, translating text, making recommendations, researching, helping customers, and even coding.
Since the typical response time is less than 1 second, it makes it a good choice for real-time conversations.
When it comes to customer service, it’s already been used to answer frequently asked questions, provide product information, and resolve common customer requests and technical issues.
GPT-3 has already been built into many websites, messaging apps, virtual assistants, and other AI applications.
ChatGPT Has a Promising Future
ChatGPT has demonstrated outstanding performance and amazing potential compared to other NLP models and tasks. It has a promising future – and many global organisations like Microsoft recognise that.
They announced a new phase of their long-term partnership and invested around $10 million this year!
So, we have this impressive AI tool available today, and most people and businesses are going to put it to use for ‘good’ purposes.
And we should all be excited about its potential!
However, we should not be blinded by all the shiny new things and benefits new technology offers us. In other words, we shouldn’t ignore the problematic nature of ChatGPT.
There are some valid concerns and risks circulating about this new technology.
Based on BlackBerry research, 51% of IT decision-makers believe there will be a successful cyberattack credited to ChatGPT within one year.
Moreover, the same study shows that 95% of respondents believe governments are responsible for regulating advanced technologies, such as ChatGPT.
We have to be aware of things such as ChatGPT providing biased or misleading answers or the risk of its malicious use. Chat GPT is an impressive tool, but it’s still in improving and training process.
What do you think about ChatGPT? How do you want to use this AI tool to improve your business and make a positive impact? Get in touch with us and let us know!