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ChatGPT – What You Need To Know

What Is It?

In November 2022, OpenAI introduced its latest version of the GPT language processing AI model: ChatGPT. This “generative pre-trained transformer” can create original content in response to a user prompt, designed to generate human-like text.

The release of ChatGPT was a significant milestone in the field of Natural Language Processing (NLP) and Artificial Intelligence (AI). With its ability to produce human-like responses, ChatGPT can be integrated into various applications such as chatbots, mobile apps, and voice assistants, improving business processes such as customer service and engagement. Additionally, ChatGPT can analyse large amounts of text data and extract insights, which can be used to improve decision making in various industries, such as finance and healthcare.

 

Why Is It Important?

Despite concerns about the advanced technology, ChatGPT has become a major competitor in the market, particularly for companies like Google. However, Google has since prioritised its own AI capabilities through its in-house AI lab, ‘DeepMind’, with rumours of its own AI chatbot, ‘Sparrow’, attempting to claim leadership in the world of AI. Sparrow aims to offer higher levels of ethics, such as enhanced safety and references for the information it provides.

 

What Does This Mean For Marketers?

Marketers must adapt to the changing landscape of AI capabilities in order to remain competitive. This includes a focus on customer experience and optimisation for voice search. 

ChatGPT, as a language model, can assist in this by generating high-quality, natural-sounding text that is optimised for search engines. This can improve SEO efforts by creating meta descriptions, title tags, and other important on-page elements. Additionally, ChatGPT can generate ideas for keywords and phrases that can optimise content. 

Although ChatGPT can generate a wide range of content, it still has limitations. The chatbot was initially trained on data prior to 2021, so it may produce incorrect facts or outdated information. However, it is also being updated by receiving input from users by opening it up to trial to refine the model further.

Marketers should not solely rely on AI tools and continue to use human writers as Google values content based on human experience and expertise. AI is becoming advanced, but it cannot replace the quality of content.

What Is Tug’s Take?

The tool’s potential in automating different areas of business is clear. The tool has the potential to generate code, compose content, uncover insights, and gather information, it can even write contracts.

The growing need for real-time customer service, driven by the advancements in AI, also necessitates businesses to adapt their strategies to stay competitive in the market.

While we are impressed with the capabilities of ChatGPT, it is important to remember that as a tool built on natural language processing, the information it provides may not always be correct. The current limitations of the AI include the potential to generate incorrect information or biassed content so it is essential to verify the accuracy and credibility of the information provided.

At Tug, we are keeping a close eye on Google’s work on its AI model, particularly during its I/O conference in May, due to its vast web-crawling and cataloguing experience. The company may have access to a larger and higher quality dataset to train its models, which could lead to the development of advanced AI applications and services that do not produce incorrect or harmful content.

The advancement in competition since the release of ChatGPT is the next big thing to watch out for, particularly with the capacity issues it is currently facing.

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