Learning about ChatGPT’s latest features and their business applications

AI is now a very close part of our reality and there is no turning back. Companies are planning to use AI initially for cybersecurity and customer service.

It was first introduced in 2022 by OpenAl, ChatGPT has instantly earned fame and widespread adoption across several industries due to its unique capabilities. In just two months after its release, this AI chatbot reached around a hundred million active users monthly, marking it the fastest-growing consumer application in history, according to research.

We are right now living in an era of quick technological advancement where almost everything seems to be possible. The outstanding and immediate development of organic language processing capabilities causes businesses to admit the matter that AI is not only a concept from the future but an essential tool for success in the digital era.

What is ChatGPT?

ChatGPT is an artificial intelligence (AI) that uses original language processing to build human-like communication. The language format can respond to questions and create various written content that includes social media posts, articles, emails, code, and essays.

It is a form of generative AI which is a tool, that lets the consumers enter prompts to earn humanlike images, videos, or text built by AI. It is similar to the automated chat services that are found on customer services found on customer service websites as consumers can ask requests or questions for clarification to the ChatGPT’s replies.

Who built ChatGPT?

An artificial research institute, OpenAI created ChatGPT and launched the tool in 2022, November. The tool was founded by a team of entrepreneurs like Sam Altman and Elon Musk in 2015.

How does ChatGPT work?

It works via its Generative pre-trained transformer that uses particular algorithms to seek patterns within data sequences. It used the GPT-3 massive language format, a non-partial network machine learns model, and the third generation of Generative pre-trained transformer.

ChatGPT also uses the GPT 3.5 model including a brilliant tuning process for its algorithm. Plus it uses GPT-4 that offers an even faster response timing and internet plugins.

Moreover, human trainers offer conversations and rank the responses as well. These kind of reward formats help to determine the finest answers. To keep the training chatbot, consumers can downvote or upvote its response once they click on the thumbs-up or thumbs-down icon along with the answer. Users can offer written feedback additionally to improve.

How are users utilizing ChatGPT?

It is versatile and it can be used for more than human communications. People have used ChatGPT to do these –

  • Draft emails
  • Script social media posts
  • Craft music
  • Code computer programs and check for bugs in the code
  • Solve math problems
  • Built art
  • Write video scripts
  • Ask trivia questions
  • Describe intricate topics more easily
  • Play games
  • Create blog posts, quizzes, articles for websites
  • Summarize podcasts, articles
  • Research markets for products

Unlike other chatbots, ChatGPT can remember different questions to continue the conversation in a more slimy manner.


What are the advantages of ChatGPT?

  • Cost savings
  • Better response time
  • Increased availability
  • Personalization
  • Digital Accessibility
  • Scalability
  • Multilingual support
  • Education and training
  • Improved the quality of contents
  • Efficiency
  • Natural language understanding

OpenAI has now announced ChatGPT’s latest features that allow us to interact with it by using images and voices.

ChatGPT’s Voice feature

Are you already a bit impressed by the idea of ChatGPT having voice conversations?

Well, the idea of voice conversation is no longer alien to us as it has assistants such as SIRI and Alexa.

What about the risks?

OpenAI seems to be aware of the potential risks associated with voice capabilities of ChatGPT such as impersonation and they ensure to take steps to address these concerns. However, this technology has some limitations as well exclusively to voice chat and the developers have, therefore, collaborated with real voice actors for its improvement. Then, consumers can select from five voice options.

These features mimic the voices of podcasters to translate their creation into several languages while retaining their authentic voices.

ChatGPT’s image feature

It is hard to put something into words when you have to display someone a picture or a drawing to pass what you mean, ChatGPT has got your back in those situations. Now you can upload a picture as well. You can even draw on the pictures to underline specific portions for a more certain question. Isn’t it cool?

Business applications of ChatGPT’s latest features

Let’s discuss the potential ways the features can be utilized in a business context –

  1. Promote inclusivity and accessibility
  2. Increase customer engagement
  3. Build content and promote products

What are the limitations of ChatGPT?

  • Responses can seem like a machine and unoriginal. As ChatGPT can assume the next word, it can overuse the words like ‘and’ and ‘the’. Because of this reason, users still need to review and edit the content to make it flow more swiftly, like content written by humans.
  • It does not understand wit or irony. It is based on a data set of text.
  • It also does not completely understand the non-simplicity of human language. It is trained to create words based on input. Because of this fact, responses might lack true insights.
  • ChatGPT lacks knowledge of data and events after 2021. This training data wraps with 2021 content. It can offer incorrect information based on the data from which it pulls. If it does not understand the query, it might also generate an inaccurate response. As ChatGPT improvement is still under process, feedback is necessaryif one findsthe answer is not correct.
  • It can sometimes focus on the incorrect part of a question and not be able to switch.
  • ChatGPT summarizes but also does not refer to sources. Moreover, it does not offer analysis or insight into any sort of data. It provides statistics.

What are the concerns associated with ChatGPT?

  1. Bias in training data
  2. Privacy issues
  3. Plagiarism and illegal use

How can you access it?

To access ChatGPT, create an account. After signing up, type a question or prompt in the message box on the ChatGPT homepage. Users can do the following:

  • First, enter prompt for a new query or ask for clarification
  • Rebuild the response
  • Then share the response
  • Like or dislike the response with the thumbs-up or thumbs-down option.
  • Copy the response.

What are the ChatGPT alternatives?

Because of its popularity, it is usually unavailable for its capacity issues. Well, you can find some text generator alternatives to ChatGPT, such as –

  • Article Forge
  • Copysmith
  • Japer
  • Spellbook
  • YouChat
  • Rytr
  • Peppertype
  • Google Bard
  • DeepL Write
  • AI-Writer
  • Magic Write
  • Open Assistant
  • toChatSonic

Bottom line,

It is no more alien that ChatGPT’s latest features have the potential to perform as a game-changer whether you are using it for your business or personally. The latest voice and image features in ChatGPT are much more than just whistles and bells. They are transformative updates that ensure to make AI more useful and interactive in our regular lives. From image recognition to voice chats the conversational future of AI looks specifically radiant. Regular users might get a chance to enjoy it pretty soon.

Edith Slocum

I am Edith Slocum and I have over 16 years experience in the financial services industry giving me a vast understanding of how news affects the financial markets. I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking. <strong>Address:</strong> 4510 Sigley Road, Salina, KS 67401, USA <strong>Phone:</strong> (+1) 785-534-9610 <strong>Email:</strong> [email protected]

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