Chat GPT For Beginners: Everything You Need To Know

What is Chat GPT?

Essentially, Chat GPT is a computer program that can have a conversation with people and answer questions or generate text based on input.

It uses an advanced form of AI called deep learning to generate text based on a given prompt. Think of it as a virtual writing assistant or a smart chatbot that can understand and respond to you in natural language.

Chat GPT is a recent GPT model that has been trained on massive amounts of text data from books and the Internet allowing it to generate humanlike responses to a variety of questions and prompts.

It’s like a machine that has read and learned a lot so it can write its own replies and stories.

Chat GPT Founders

Chat GPT was created by Open AI and launched in November 2022. Open AI was founded as a not-for-profit organization that was doing AI research.

It’s based in San Francisco and was started in 2015 by Elon Musk, Sam Altman, Peter Thiel, Reid Hoffman, and others, including some corporate investors who collectively pledged a billion dollars.

Elon Musk later resigned from the board in 2018, citing a potential future conflict of interest with some of the AI development work at Tesla, but he remained a donor.

Recently Open AI made a partnership with Microsoft – the second larger supplier of cloud computing in the world.

In 2019, Microsoft made a $1 billion investment in Open AI, and then also the organization transitioned from a not-for-profit to a capped-for-profit with the profit capped at 100 times any investment.

In 2023, Microsoft announced a $10 billion investment, which values the company at around $29 billion.

Today, the company is run by CEO Sam Oldman and has around 375 employees. Beyond Chat GPT, Open AI also created other AI tools, including Whisper, an automatic speech recognition system, and DALL-E2, a popular AI image and art generator.

Currently, the tools are free for use, but there are premium versions of this in development. Open AI project a $1 billion revenue by 2024.

So this is a space to watch. This company is getting lots of attention, lots of investment, and lots of really interesting commercialized tools.

Chat GPT Advantages

Let’s look at the advantages of Chat GPT.

Great Natural Language Processing Capabilities

Chat GPT is trained on a large amount of text data and has the ability to understand and generate humanlike text, making it effective for tasks such as conversations, text generation, and question answering.

Ability to Handle Diverse Topics

Chat GPT has the ability to handle a wide variety of topics and question types, making it suitable for a wide range of applications. It is a way of context. So Chat GP has the ability to maintain context across multiple turns in a conversation, which enables it to provide relevant and coherent responses even in complex scenarios.

Fast & Efficient

Chat GTP is an efficient model that can generate responses quickly, making it suitable for real-time applications such as chatbots and virtual assistants.

Chat GPT Limitations

Despite having a number of use cases and advantages, Chat GPT has also many limitations that every user should be aware of.

Now, we’ll look at those.

Lack of Understanding

Despite its advanced natural language processing capabilities, Chat GPT lacks a true understanding of the words it processes and generates. This can lead to errors, especially in complex scenarios where deeper understanding is required. It has clearly limitations in understanding context, especially when it comes to sarcasm and humor.

Lack of Explainability

Like most deep learning models, Chat GPT is a complex model with many parameters which makes it difficult to understand the underlying reasoning behind its decisions. This can make it difficult to identify and even address errors in the model.

Privacy & Security Concerns

Chat GPT and other language models can process large amounts of sensitive information, raising concerns about data privacy and security. It is important to take appropriate measures to protect sensitive data when using such a model.

Chat GPT Can Be Biased

As we mentioned earlier, Chat GPT is trained on large amounts of text data that can reflect biases and limitations of the data it is trained on. And this can lead to a lack of diversity and inappropriate responses.

Difficulty Generating Long-Form Structured Content

While Chat GPT is capable of generating pretty coherent and contextually relevant responses, it can struggle to produce long-form structured content such as essays, reports, or articles.

This is because the model doesn’t have a comprehensive understanding of the structural components required in these types of documents. We’re talking about the introduction, body, and conclusion.

Limited Ability to Handle Multiple Tasks or Objectives

Chat GPT is designed to excel at generating natural language responses to a single prompt but it often struggle when asked to perform multiple tasks or objectives at the same time.

This is because the model is optimized to generate a single, coherent response based on the input it receives, rather than juggling multiple tasks or objectives simultaneously.

Difficulties in Handling Sensitive or Private Information

Chat GPT is a machine learning model that operates on data inputs, including text. However, it can have limitations in handling sensitive or private information.

This is simply because the model lacks of context or understanding of how certain pieces of information may be more sensitive or personal than others.

Limitations in Ensuring the Accuracy of Information

Chat GPT learns from vast amounts of data, including unstructured text from the internet including Reddit and different forums. Meaning the model relies on the quality of the input data to generate its responses.

As such, it may not always produce accurate information, particularly when the input data is flawed or contains inaccuracies.

Need for Fine-Tuning the Model for Specific Use Cases

While Chat GPT is a very powerful tool for generating natural language responses, it is not a one-size-fits-all solution. Depending on the specific use case, it may be necessary to fine-tune the model so that it produces the desired output.

In some cases, this can involve training the model on a specific dataset or optimizing its parameters for a particular task or objective.

Limitations in terms of Computational Cost and Power Required to Run the Model

Chat GPT is a complex language model that requires significant computational resources to run. Running the model can be expensive in terms of power consumption.

Chat GPT Best Use Cases

Now let’s look at some of the most common Chat GPT use cases.

Generate Ideas & brainstorm

If you want new ideas for your 7-year-old’s birthday party, Chat GPT can give this to you. If you want topics to write about, new recipe ideas, or even entire meal plans, it can produce this for you.

Personal Assistant

You can use it as a tour guide, shopping assistant, HR assistant, health assistant, or even to get movie recommendations that are personalized for you.

Explain Complicated Topics

If you want to understand what is machine learning and what is quantum computing, it will give you a concise overview of what this is.

Writing Assistant

So if you want to write a poem on any topic, a news article, an email response, or even a homework essay for your 10-year-old son or daughter, it will produce this for you by giving it some content.

Summarize Text

You can use it to summarize the latest research on a specific topic, or you can use it to summarize a text or entire report.

Writing Computer

It can also write computer code, so you can use it for coding or as a debugging companion.

Translation

Chat GPT can translate text into other languages. It currently has the ability to use about 95 different languages.

Sentiment Analysis

So if you want to understand if there’s a positive and negative text, it will do this for you. You can write songs with it.

Writing Songs

So if you wanted a song in the style of your favorite artist, it can produce this for you.

Fine-Tuning Data

And what’s more, you can train the tool on your own data. So if you think you have very unique engineering data, health data, you can use it to learn from that data. And then you can simply plug it into your own system using APIs or application programming interfaces.

Chat GPT For Beginners Final Words

So this is everything you need to know about Chat GPT – its potential, limitations, and use cases.

We hope this Chat GPT for beginners guide was helpful.

And as you can see anyone can start using its amazing capabilities to transform whatever they do.

Keep in mind that from a human point of view, there’s also the challenge that when we have these powerful tools we tend to believe in them.

So we ignore that they are biased, we ignore that they don’t understand the context, that they deliver some knowledge to you that we take as a given.

So this ability to have critical thinking and understand and challenge what these tools give us is hugely important in the future.