It is nearly impossible to scan the business news over the past few months without seeing “ChatGPT” in the headlines.
Here are some fast facts to help you get to know what ChatGPT is all about.
The big picture: Many experts believe that new chatbots like ChatGPT are poised to massively disrupt technology to the same degree like Apple’s iPhone, Google’s search engine, and Netscape’s web browser proved disruptive.
“Anybody who doesn’t use this will shortly be at a severe disadvantage. Like, shortly. Like, very soon.”
– Jeff Maggioncalda – CEO, Coursera
So what is it?: ChatGPT is an artificial intelligence tool that allows a user to generate original text. It can serve up information in clear, simple sentences, rather than just a list of internet links. Furthermore, the AI tool can explain concepts in ways humans can easily understand.
ChatGPT automatically generates text based on written prompts in a manner that is much more advanced and creative than earlier chatbots. The software debuted in late November 2021, and it has generated extreme buzz.
Here’s the backstory: ChatGPT was created by OpenAI, a San Francisco-based company that was founded in December 2015. Open AI’s founders include well known technology gurus including: Sam Altman, Ilya Sutskever, Greg Brockman, Wojciech Zaremba, Elon Musk, and John Schulman.
OpenAI’s mission: The company conducts research in the field of AI with the stated goal of promoting and developing friendly AI in a way that benefits humanity as a whole.
Yes, but: AI chatbots are anything but perfect. They learn their skills by analyzing huge amounts of data posted to the internet, and they therefore can blend fiction with fact. They can deliver information that is biased along with toxic language (including hate speech).
The money train: OpenAI’s founders pledged $1B to launch the company. The company received a $1B investment from Microsoft in 2019, another significant investment in 2021, and a rumored $10B investment in January 2023. Microsoft said the renewed partnership will accelerate breakthroughs in AI, and help both companies commercialize advanced technologies.
Our Sources: CNN Business, Axios, The New York Times, Microsoft, Gizmodo, Wikipedia