What is ChatGPT? | CryptoWallet.com

What is ChatGPT?

ChatGPT is a new, commonly available AI-based chatbot created by OpenAI in November 2022.

Considered to be one of the most powerful AI tools available to the public ever created, ChatGPT has made a lot of waves in the fields of writing, academia, software development, and commerce.

How it Works

At its most basic level, ChatGPT is a chatbot that you can access via your device or computer. Within the chat box, you can ask the bot a staggering amount of questions that the machine will answer with a genuinely impressive degree of clarity, understanding, and coherence.

One of the things that make ChatGPT stand out is that it uses something called a “large language model,” or LLM. This model allows it to bring together a huge amount of information to create highly compelling responses. 

But outside of having the capacity to access and present relevant knowledge, what makes ChatGPT somewhat uncanny is that it can rely on the information in a very convincingly human way. This is where the GPT comes in or “generative pre-trained transformer” comes in.

Via a mixture of inspired and reinforced learning, ChatGPT creates a dynamic language model that is derived from ongoing human feedback and will likely get even better over time as more people interact with it.

What is it for?

ChatGPTs can program code, write essays and letters, solve problems, and even create writing in the voice of other creators.

It does have an impressive number of use cases that could see it rolled out into day-to-day functions in areas such as customer support or workflow aids.

However, the technology does have limitations and more than a few ethical concerns.

Public Response

The public response to ChatGPT was very positive, showed an enormous amount of potential, and, as of 2023, was valued at around $29 billion. Others have pointed out that as a piece of technology, it could be extremely destructive to academia, legal work, and a host of other ethical concerns over ownership, copyright, and creativity.

In addition, the technology itself can be a little glitchy and probably isn’t ready to be used for anything serious. Experts have noted that ChatGPT can “hallucinate” answers and will favour creating long text answers that never truly engage with the question rather than simply admitting it can’t answer the question.