Is ChatGPT-led AI revolution mostly hype or hope?

By Daniel Shin

In the age of AI, it can be difficult to know what the truth is. However, there are some things you can do to help you determine what is true and what is not. One thing you can do is look for multiple sources of information. This can help you get a more complete picture of what is going on in the real world. Another thing you can do is to look for sources that are well-reputed and trustworthy. This can help you avoid sources that are biased or unreliable.

ChatGPT, powered by AI Large Language Models, or other similar Generative AI engines do not have feelings or beliefs. They are just programmed to provide us with the most relevant and helpful information they can find. They are here to help us with our questions by answering them and addressing our concerns. It can help us with a wide range of topics. For example, it can help you explore various questions on science, history, technology and more. It can also help you with tasks like writing an essay, finding information on a particular topic, coding and so forth.

ChatGPT can be used in a variety of ways to help businesses. One of the most immediate use cases is customer service. ChatGPT can help businesses provide quick and efficient customer service by answering common questions and resolving issues immediately. They can be also used to help customers discover new products, find what they need, and make purchases. Another use case for ChatGPT is digital marketing. Chatbots can be used to engage with customers and provide them with personalized recommendations based on their interests and preferences. They can also be used to send out promotional messages and offers and moderate reviews and ratings.

ChatGPT can also be used for internal business functions. For example, they can be used to automate tasks like scheduling meetings, sending reminders and providing employees with information about company policies and procedures with the least amount of human intervention. ChatGPT can be also used in recruiting, to help with tasks like pre-screening candidate applications and scheduling interviews. However, ChatGPT is not designed to make hiring or firing recommendations. That is a decision that should be made by human resources professionals who have the necessary training and expertise.

It's difficult to predict which jobs will disappear first due to services like ChatGPT. However, some jobs that are more likely to be impacted by AI than others for sure. Jobs that involve repetitive tasks like data entry or bookkeeping are more likely to be gone. Coders may become obsolete, too. Other jobs that could be impacted by AI include telemarketers, receptionists, couriers and so forth.

That being said, it's important to remember that AI is not going to replace all jobs. In fact, many jobs will be created as a result of AI as well. Additionally, there are some jobs that are less likely to be impacted by AI, such as those that require creativity or soft skills. In addition, ChatGPT can't make a judgment call. It's important to remember that ChatGPT is not a replacement for human judgment although it can be referenced. While ChatGPT can be trained to make decisions based on data and rules, it lacks the empathy and intuition that humans possess.

ChatGPT can give a wrong answer. Prompters can try rephrasing their questions or providing more context to help ChatGPT understand what they are looking for. If prompters are not getting the answer that they are looking for, they can try searching for the answer themselves or asking other human experts. Though, it definitely saves a lot of time on what to look for and who to ask.

ChatGPT is free. Though, a paid version charges a user $20 per month. Few unverified sources have said that ChatGPT has already surpassed 4 million paying users. OpenAI, which owns ChatGPT, is predicted to achieve $200 million in revenue in 2023 and $1 billion in 2024. Some sources said that OpenAI received 619 million visitors to its site and that it jumped to over 1 billion in February 2023. It is rapidly penetrating the market.

It may already feel like an age ago, but OpenAI's monthly page views also jumped from 18.3 million in November 2022 to 304 million in December 2022, a 1,560 percent increase in a month. This was even before ChatGPT officially began making much noise. It took 42 months to reach the first 1 million users for Netflix, 10 months for Facebook, and two months for Instagram. It only took five days for ChatGPT. My mother in her mid-70s even talks about it as she reads and hears a lot about it from the media these days.

ChatGPT has generated a lot of hype since becoming available for public use in December 2022. It has taken the internet by storm and surpassed the coveted 100 million monthly active users mark in just two months. However, there are also concerns about a market bubble and excessive hype surrounding ChatGPT and Generative AI technologies. Many tech skeptics raise ethical issues on ChatGPT and doubt if a bust is just around the corner.

Can people tell if someone writes an essay with help of ChatGPT? There are tools available to detect if an essay was written using ChatGPT. For example, Content at Scale's AI Detector can be used to check for ChatGPT writing by pasting the text you want to determine into the input box and then selecting Check for AI Content. Another tool is called GPTZero, which is a ChatGPT detection tool built by a student at Princeton University.

ChatGPT can be used to write news articles. However, it's important to remember that ChatGPT is not a replacement for human journalists. While ChatGPT can generate text that is only several paragraphs long, it lacks the creativity and critical thinking skills that human journalists would possess. But, it will save a lot of time when conducting fact-finding and revising original drafts. Last but not least, I will leave you to verify if this column is written by me or ChatGPT.

Daniel Shin is a venture capitalist and senior luxury fashion executive, overseeing corporate development at MCM, a German luxury brand. He also teaches at Korea University.