Is the new ChatGPT bot the revolutionary technology that really answers all questions with its artificial intelligence - and better than the Google search engine?
On the market since November 2022, ChatGPT had 1 million users within just 5 days and over 100 million users in January 2023 (source: Wikipedia), making it the fastest growing consumer application of all time.
However, ChatGPT is setting new standards for decision-makers not only in the B2C sector but also in B2B by putting digitalisation in the fast lane: processes and services are being digitalised at ‘lightning speed’ and new savings potential is emerging almost automatically...
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ChatGPT is an autogenerative system/chatbot that is based on Natural Language Processing (NLP) and can access countless data sources based on ‘pre-training’ in such a way that it can generate its own speech (text or audio) to respond to human requests.
To understand this in more detail, we need a few more definitions:
Chatbot – a chatbot is an application that uses artificial intelligence to converse with people in natural language. Many companies are already using chatbots in their customer services to answer simple, standardised (and increasingly more complex) queries from their customers without having to deploy staff. However, there are usually still human employees in the background who can take over if the customer has follow-up questions or complex issues need to be explained.
GPT – stands for Generative Pre-trained Transformer. The ChatGPT converts information from a repertoire of data that it can access in a previously ‘trained’ way so that it creates a text itself (written or in audio format) that can hardly be distinguished from texts created by humans.
We ‘asked’ ChatGPT itself for a definition of ChatGPT by simply typing ‘explain ChatGPT’ into the command line. This was the answer:
‘ChatGPT is an AI language model developed by OpenAI. It is a machine learning model that has been trained on a huge amount of text data to generate human-like text based on a nudge.
ChatGPT uses a variant of the Transformer architecture and can generate a variety of outputs, including text completions, answers to questions and even poems or stories. The model has been trained on a diverse range of topics, enabling it to generate text that is influenced by different aspects of human knowledge and language use. The goal of ChatGPT is to enable natural language interactions between humans and AI systems.’
Who is behind ChatGPT and how exactly does the tool work?
The development company behind ChatGPT is the US non-profit organisation OpenAI. The company specialises in the research and development of artificial intelligence and was founded in 2015 by various people, including Elon Musk and Peter Thiel.
ChatGPT accesses an incredibly large amount of data. The so-called training data was all created by humans and comes from countless sources (including Wikipedia, for example). It is a so-called deep learning model, i.e. machine learning via artificial neural networks.
Even tasks that ChatGPT has not been explicitly trained for can be solved, such as totalling numbers, decoding words in a sentence and writing React and JavaScript code.
The result is a language-based application that enables the user to engage in dialogue with the tool, ultimately giving them the feeling that they are having a ‘conversation’ with another person.
What makes ChatGPT so special compared to other chatbots?
A number of features make ChatGPT what it is - a revolution in the field of artificial intelligence. The conversation between human and chatbot takes place in a form of interaction in which ChatGPT
ChatGPT also has an in-built protection mechanism to prevent incorrect or misleading answers.
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Due to its precision and versatility, ChatGPT is already being used for countless other tasks, e.g:
On top ChatGPT can
All the user has to do is write a corresponding command in the chatbot. They receive the desired explanation/text/contribution/etc. within seconds.
The possible applications of ChatGPT are limitless. Some experts even believe that ChatGPT will be able to replace Google in the medium term. And even if this may still seem far-fetched at the moment, ChatGPT definitely has incredible potential and can be seen as a revolution in the field of artificial intelligence.
Is ChatGPT able to generate a competitive advantage for companies?
Our answer is clearly ‘YES!’
When sensibly integrated into processes and projects, ChatGPT delivers excellent results in the shortest possible time, supports teamwork and thus also helps to reduce costs.
We like to call ChatGPT an ‘all-rounder tool’, as it can be used in the following areas of project work:
Where is ChatGPT used and what advantages does it offer?
ChatGPT was originally developed - just like many other chatbots - for the customer care sector, i.e. to enter into dialogue with companies' customers.
Automation can reduce repetitive tasks, i.e. those that are routine in day-to-day business, which not only increases the efficiency and quality of customer service and thus customer satisfaction, but also has a positive effect on employee satisfaction. Last but not least, this also results in a significant reduction in costs for the company.
Yes, ChatGPT ‘speaks’ many languages. If you make an enquiry in German, you will also receive a German answer. However, English is the main language and the answers are most precise in English. Of course, ChatGPT can also be used for translations.
Exciting: It is also possible, for example, to enter an English text and ask for a German summary of it.
To be able to use ChatGPT, you need an OpenAI account. This can be set up quickly and initially free of charge with just a few clicks - simply via the browser at chat.openai.com.
As soon as you have completed the setup, you can get started via the command bar and ask any question or enter commands that are answered and/or processed immediately. You will receive an answer/result within seconds.
ChatGPT can be used by anyone. In the private sphere, it answers all questions within a very short time - just like Google.
However, as already seen in the application examples above, ChatGPT is also suitable as a tool for companies, both in the B2C and B2B sectors.
ChatGPT is basically free of charge. At least the very comprehensive basic service should remain so. However, since February 2023 there has been a paid version, ChatGPT Plus, which should be of particular interest for companies, as it guarantees preferential access during peak times, even faster response times and preferential access to new functions and improvements in the future.
We at K3.digital are convinced of digital innovations. ChatGPT is the digital revolution in the field of artificial intelligence. The number of possible applications that ChatGPT offers is virtually endless...in the areas of communication, services, business processes and knowledge management.
We have been following the development of ChatGPT from the very beginning and have already realised our own applications for the use of ChatGPT.
Would you like to benefit from our experience with ChatGPT or be shown innovative ideas on how you can use ChatGPT for your company?
Our experts will show you how you can use ChatGPT in your company and how you can integrate the artificial intelligence of ChatGPT and utilise it profitably as part of your corporate strategy!
Although we are not the manufacturer of ChatGPT, we are your partner for the efficient introduction and use of ChatGPT. Our experts will be happy to advise you in this area.
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