The Future of ChatGPT: Advancements and Possibilities

It was just another workday for Sam Altman and his team at their Open AI office when they decided to launch a demo version of ChatGPT on 30 November 2022.

In just five days, Open AI gathered a huge 5 million users. That was a phenomenon the team never expected to get from a demo version of their product. (Source: Business Today)

ChatGPT became one of the fastest growing consumer technologies in 2022, with 100 million users in just two months. TikTok took 9 months to reach this stat! ( Techspot)

This rare accomplishment by ChatGPT has led to support from some of the biggest tech companies like Microsoft and Google.

Met with equal parts controversy and praise, ChatGPT has achieved a lot since its introduction to the world.

So, how will ChatGPT impact the future? Will it make our lives easier? Will it replace human creativity?

In this article, we will explore how this technology offers a glimpse of the future of technology and work. The article also highlights emerging AI trends and innovations and how we can embrace this revolution with caution.

What is ChatGPT?

ChatGPT (Chat Generative Pre-Training Transformer) is an artificial intelligence chatbot that is built on Open AI’s large language models (LLMs). It uses natural language processing to text and can answer almost any question correctly.

ChatGPT has been trained with a massive 570 GB of data obtained from books, web texts, Wikipedia articles, and other texts and internet sources. That means a whopping 300 billion words were fed into the system. (Source: BBC Focus)

You can use ChatGPT to write stories, essays, research papers, codes, cover letters, or even plan your next holiday.

What is the Potential of ChatGPT?

ChatGPT’s power lies in understanding complex topics and making them simple and digestible.

This means ChatGPT can explain quantum mechanics in simple terms in seconds or even write a full research paper.

Depending on the prompt you give, ChatGPT can understand, summarise, and generate the answers you need. It is trained to follow instructions in a prompt way and provide a detailed response.

It may not guarantee correct answers to your questions. But if ChatGPT gives you a wrong answer, you can feed the right responses, helping it to build the knowledge bank.

You can use ChatGPT 3.5 for free. The advanced version, GPT-4 is also available, but for paid subscribers.                     

How Do You Use ChatGPT?

1. Go to chat.openai.com. Log in or sign up.
2. Type your question or prompt into the message box at the bottom and hit the enter button.
3. After receiving answers, you get a handful of options:

                  a) Like or dislike button

                  b) Edit the original prompt

                  c) Regenerate the response

                  d) Copy the response

                  e) Share the response

If you don’t want the previous information, you can turn off chat history or delete conversations in your account settings.

However, you should avoid relying completely on the information that ChatGPT provides. Sometimes it might generate false or biassed information.

Always conduct your research and ensure you verify all the information you receive from ChatGPT through your prompts.

Sometimes, ChatGPT provides dead links to sources and reference articles and the information can also be quite outdated, so these are some things that you might want to consider if you are using ChatGPT.

What Will the Future Influence of ChatGPT be?

ChatGPT can significantly impact various industries such as:

• Customer Service: Companies are using ChatGPT to automate responses to common customer queries.
• Education: It can help in providing personalised and interactive learning experiences for students.
• Content Creation: Content creators use ChatGPT’s assistance to brainstorm ideas, draft articles, scripts, and beyond.
• Businesses: Companies use ChatGPT to automate tasks like drafting emails and content for internal communication.
• Healthcare: ChatGPT can be used to assist in clinical decision support, medical record-keeping, analysing, and interpreting medical literature.
• IoT (Internet of Things): There are discussions going on how to use the likes of ChatGPT for daily life assistance through internet dependent assistants like Alexa, Siri etc. ChatGPT could help upscale the Internet of Things to the next level if leveraged well.

What are the Limitless Possibilities of ChatGPT?

The future of ChatGPT includes several advancements in artificial intelligence and natural language processing.

Mina Murati, Chief Technology Officer of Open AI, said that in the future, ChatGPT could help with extremely hard problems. She also added that there would be advancements in how we interact with these chatbots. (Source: CNBC)

In future, chances are that you can interact with ChatGPT as you chat with a friend or a colleague.

ChatGPT will continue to evolve, and its application will be widely used in different sectors like healthcare, law, governance, and beyond.

In summary, ChatGPT can be extremely useful, but it's important to review and fact-check its results. Ideally, it should enhance the potential of humans rather than replacing it.

With this in mind, it is clear that AI and ML will be extremely relevant for the future of work. Explore relevant courses in the London School of Business and Finance, Singapore campus (LSBF SG Campus) to develop your skills in these advanced technologies

FAQs

1. Is ChatGPT free?

Yes, you can use the basic version of ChatGPT for free. There is also ChatGPT Plus, where you have access to all the advanced features that need a subscription.

2. Is ChatGPT the future of learning?

ChatGPT has immense potential, where you can transform learning by having quick access to information, making education more interactive and personalised. It requires thoughtful integration and will not replace human teachers.

3. Can ChatGPT make predictions?

No, ChatGPT has limitations. However, it can provide insights based on past data.

4. Is ChatGPT the future of AI?

Calling ChatGPT the future of AI may be too far. It can be a significant contributor to the AI revolution.