Let’s talk ChatGPT…
Yes, I am one of the 1 million+ new users of the recently launched OpenAI’s ChatGPT 3. Though originally launched in 2020, the latest version launched last month has taken the internet by storm. To give you a brief about the company OpenAI, the infamous Elon Musk was behind this genius as well, the other cofounder being Sam Altman. As Elon tweeted about ChatGPT, it’s “Scary Good”.
For me, a regular business professional who has been involved in various tech transformations not limited to working with AI platforms such as building a basic chatbot to being an undergrad student, working to capture the facial expressions of PTSD veterans for an AI model tool used for diagnosis, this seemed like a basic Siri enhancement at first, until you actually go ahead and converse with the chatbot.
What is ChatGPT and how is ChatGPT different from Google Search or Siri?
There you have it folks. ChatGPT spits out a well crafted politically correct thoughtful response as compared to Siri, Alexa, and Google Search’s song options. ChatGPT is basically thinking out loud for you.
There is creativity in the response tailor made for the audience. ChatGPT works on “R L H F” — Reinforcement Learning Human Feedback. The program admits its mistakes and rejects inapproporaite requests. It can even write codes and help you with your answers in exams (let’s not go there though).
As you enter the website you get a gist of what all you can explore, and while the tool isn’t perfected yet, it just goes on to show what’s to come. With the rise of AI , this generative AI — AI that can generate new content , rather than act on existing data, has made it out to be the most talked about tech in silicon valley.
ChatGPT in Financial Services?
To think of the potential that’s to come, think of the workforce ChatGPT could replace in banking. Let’s ask ChatGPT about what it thinks?
The elimination of need for customer service, and consultants building basic chat bot arises. On the bright side giving professionals to focus on more high impact work.
ChatGPT can basically help improve the customer service expereince by providing accurate and personalized responses in real time, allowing for faster resolutions and less complaints. The idea generation capabilities are endless, say for marketing campaigns and articles (another field it might be entering!). Automation of routine tasks is the opportunity.
Drawbacks of ChatGPT?
The massive success of ChatGPT in it’s first 5 days caused OpenAI’s platform to crash and switch to better processors.
It’s expensive and currently this service is free, can push people out of work for example dall-e, the text to image bot has pushed people out of jobs because of AI using creativity. ChatGPT can cause a bigger ripple.
Moderated content on AI can be worked around and explicit content can start reaching the bot.
To play with ChatGPT and Dall-e, please use the below links and comment about what you think of these open source AI platforms.
