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What is ChatGPT and what makes it worth a possible $30 billion?

06 Jan 2023 Zinkpot 222
What is ChatGPT and what makes it worth a possible $30 billion?

CNBCTV18 - ChatGPT, a chatbot launched by OpenAI in November 2022, is the tech industry's latest step in generative artificial intelligence. The AI bot has been trending on Twitter and amassed over a million users within five days of its launch. Read more
 

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  • After months of dominating the internet with its AI image generator Dall-E 2, OpenAI is back in limelight thanks to ChatGPT - a chatbot made using the company's technology GPT-3.
  •  What is GPT-3?  GPT-3 (Generative Pretrained Transformer 3) is a state of the art language processing AI model developed by OpenAI. It is capable of generating human like text and has a wide range of applications including language translation, language modelling and generating text for applications such as chatbots.
  • It is one of the largest and the most powerful language processing AI models to date with 175 billion parameters.
  • GPT-3's most common use so far is creating ChatGPT - a highly capable chatbot in November 2022.
  • ChatGPT can generate text and images to engage in human-like interactions. The chatbot can tell jokes, play chess with people, and can even fix their codes. Its model uses a reinforcement learning method and has been trained using several resources.
  • Advantages of ChatGPT. While the core function of a chatbot is to mimic a human conversationalist, journalists have also noticed ChatGPT's versatility and improvisation skills, including its ability to write and debug computer programs; to compose music, teleplays, fairy tales and student essays' to answer tests; to write poetry and song lyrics;  to emulate a Linux system; to simulate an entire chat room; to play games like Tic Tac Toe, and to simulate an ATM.
  • Unlike most chatbots, change, ChatGPT remembers previous prompts given to it in the same conversation; Journalists have suggested that this will allow ChatGPT to be used as a personalized therapist.
  • To prevent offensive outputs from being presented to and produced from ChatGPT, queries are filtered through OpenAI's company-wide moderation API and potentially racist. or sexist prompts are dismissed.
  • ChatGPT suffers from multiple limitations. OpenAI acknowledged that ChatGPT "sometimes writes plausible sounding but incorrect or nonsensical answers". The reward model of ChatGPT, designed around human oversight, can be over optimised and thus hinder performance.
  • ChatGPT has limited knowledge of events that occurred after 2021. According to the BBC as of December 2022, it is not allowed to "express political opinions or engage in political activism."
  • Present status: OpenAI, the developer behind ChatGPT, is now trying to raise capital at valuation of almost $30 billion. The company is looking for investors to purchase shares from current holders and carry out a tender offer of existing shares.
  • This valuation could make OpenAI one of the most valuable US startups, The Wall Street Journal reported, despite it reporting little revenue so far. It would chart higher than several other tech companies such as Dell, HP, eBay, Zoom, Spotify, SNAP Inc and Palantir, to name a few.
     
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