ChatGPT

The chatbot that started a revolution

Overview

There was generative AI before the ChatGPT, and there was generative AI after. Before its launch in November 2022, Google searches for ‘AI’ were trundling along as they have done for many years. When ChatGPT arrived, they began to soar, and have been rising ever since.

ChatGPT’s premise was revolutionary. Rather than retrieving digital information from a search bar, a chatbot could now give more specific answers to a query and generate large volumes of coherent text. Later releases enabled the creation of custom GPTs that can do specific tasks, code and do deep data analysis.

It being the first general purpose chatbot on the market, it now has 80% of the chatbot market share with close to 300m regular users. Its developer, Open AI, has become one of the most valuable startups on Earth. The tool has a dizzying range of potential applications and can be useful for almost anyone who works with a computer.

ChatGPT is a general purpose AI chatbot designed for conversation that can draw on extensive training on human written content as well as live internet access. The tools strengths lie in its ability to understand context and generate coherent responses that align well with user requests, and a variety of features that despite being quite advanced are easy to use.

It serves countless use cases and is easy to use, with our top uses including preparing data, answering questions about long documents and knowledge bases, summarising content, and writing and editing code and formulas.

It operates effectively in both casual conversations and more structured environments, making it a versatile tool for businesses and individuals seeking to enhance their productivity, learn new skills and topics.

Key features

  • Contextual Understanding: ChatGPT can maintain context over multiple days in a conversation, allowing for coherent dialogues that feel natural.
  • Wide Range of Topics: The tool can converse on various subjects, providing users with the flexibility to engage in discussions from casual to professional contexts.
  • Customizable Responses: Users can tune the responses with tone, style and detail preferences, catering to different audiences.
  • Custom GPTs: Incredibly easy to setup custom GPTs are private or shareable bots tailored to specific tasks, and can have access to proprietary data and knowledge.
  • Code & Data Understanding: Code interpreter can understand and write in numerous programming languages, do basic data analysis and apply reasonably advanced data science to small uploaded data sets.
  • Languages: Understands and can write well in most widely spoken languages.

Pros

  • Quickly Understands Requirements: Briefing ChatGPT is usually easy, as it’s generally able to get the gist of your requirements even when poorly written and riddled with spelling mistakes.
  • Versatile Applications: Suitable for countless applications including paraphrasing/summarising, editing, rewriting, interrogating documents, brainstorming process or creative ideas, content generation, data analysis and loads more. Choosing categories to put ChatGPT into was no easy task!
  • Continuous Improvement: Ongoing updates to the base GPT model (currently 4o), and features added to the tool keep it relevant over time.
  • Internet Access: Earlier versions of ChatGPT were limited by only being trained on historic internet content, with a hard cut off date for its knowledge. Now it has internet access, so can research new content on the fly before answering.

Cons

  • Limited Deep Knowledge: While ChatGPT performs well in conversations, it may lack depth in specialized or academic fields, sometimes providing overly general responses instead of detailed insights.
  • Hallucinations: Like any AI chatbot, ChatGPT will often confidently assert things that aren’t true. These are what are known as “hallucinations” and they can range from laughable, to inconvenient, to outright dangerous, depending what you’re using it for. Ultimately, this limitation means you cannot rely on the output without being reasonably au fait with the topic or task at hand yourself – otherwise, you risk not being able to spot problems when they do occur.
  • Free Version Limitations: If you need to query it for a few hours, your daily credits will quickly run out. It also lacks some features talked about here and means any content you give it can be used to train future iterations of the tool and may therefore become public.

Who is ChatGPT for?

ChatGPT is useful for almost anyone that works regularly with computers, in countless contexts and jobs. It’s not become the biggest AI tool around for nothing, and at $20 per month for a pro account, it’s our view that it’s a bargain.

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