How businesses are harnessing the Chat GPT-3 craze

What is Chat GPT-3, and how is it being used?

Chat GPT stands for Chat Generative Pre-trained Transformer, and that is exactly what it does. To put it much simpler, OpenAI’s program is trained on a massive sample of text from all over the Internet, utilising machine learning and artificial intelligence to generate comprehensive text responses to any given prompt.

This ability to generate text from an almost limitless list of prompts opens the service to be used in a multitude of ways. You could have a chat with it, use it to write an article, translate a block of text into a different language, brainstorm ideas with it, or explain it could something to you in more layman’s terms, just to name a few.

Analysis by Craft documents has revealed the most popular uses of the service to better understand just how Chat GPT-3 is being utilised by consumers. The single most popular use of the AI is to summarise a text, with a staggering 20% of uses relating to this service. Up next, in a very close second and third place, is the ‘continue writing’ feature with ~18% and the ‘write an article’ feature with ~17%. Other popular services, in no particular order, include a lot of text alterations such as tonal, wording, and grammatical adjustments.

These tools and services are exactly what make them potential assets to businesses and organisations looking to automate and revolutionise areas such as customer service, language translations, and information analysis.

How are businesses making use of Chat GPT-3?

With 83% of companies considering AI as a top priority in their business strategy going forward, and many taking the steps to implement them, just how are businesses making use of Chat GPT-3 and other similar services?

A spokesperson at Craft commented on the matter: “Developers can deploy GPT-3 models to a wide range of applications, making it an invaluable tool for businesses and organisations. There are many potential uses of GPT-3 AI, such as creating chatbots, aiding with language translation, summarising articles, providing automated customer support, and identifying trends.”

In essence, this is what we are seeing being deployed more and more by businesses across the globe. Chatbots and customer services seem to be at the forefront of uses for now, but there is also a considerable uptick in the AI service being used to fill in for writers or amplify their overall efficiency. Another growing use of the OpenAI program in business is to summarise a large amount of information into much more manageable chunks so that trends can be better highlighted.

“As this technology continues to develop, content creation is one of the biggest areas of opportunity. AI-based wiring tools allow users to create high-quality content quickly and efficiently, aiding the process from idea generation all the way through to the final content,” added the Craft spokesperson.

Beyond just the writing side of the AI, organisations are also seeing utility from its other features relating to areas such as mathematics and coding. Businesses can use Chat GPT-3 to calculate problems rather than relying on traditional methods or analyse data to come to conclusions in a fraction of the time a human could. As for coding, code can be generated almost instantly and then fact-checked by a professional, or code can be put through the AI to highlight errors that can be otherwise tricky to find.

The growing popularity of Chat GPT-3 moving forward

With so many current, as well as a plethora of potential, uses it is no wonder that Chat GPT-3 is growing at such an alarming pace. With this growth also comes competition to drive it even further, as seen recently with the launch of Google’s Bard joining the fray.

“Google launching Chat-GPT rival Bard highlights just how widespread this technology is going to become. It’s a new way to have all the information at your fingertips, and it’s here to stay – much like the impact of the first wave of Google search. In fact, it appears that Bard will replace the Google Search rankings in the long term,” says Alec Boere, Associate Partner for AI and Automation, Infosys Consulting Europe.

It is clear that moving forward, Chat GPT-3 and its competitors are here to stay and will only continue to gain traction. What we need to ask ourselves now is where are we in its development cycle, and how far could this service reach in the future?

After all, as Keiron Holyome, VP UKI and Emerging Markets at BlackBerry, says: “The surging popularity of AI-enabled chatbot solutions is showing no signs of slowing down.” The Chat GPT-3 revolution has only just begun and it’s here to stay.