OpenAI’s ChatGPT celebrated its first anniversary on 30th November 2023. Since its debut, ChatGPT has been setting new standards in artificial intelligence. This groundbreaking AI chatbot quickly captured the world’s attention, achieving a significant milestone of reaching one million users within five days of its launch. It stirred widespread online conversations for several days due to its abilities ranging from writing essays to writing code. ChatGPT’s rapid adoption and widespread impact introduced a new era of conversational AI making it accessible to a broader audience. It has only been a year and ChatGPT has already evolved from a simple text-based conversationalist to a powerful multimodal system illustrating the unparalleled potential of AI. As per Grand View Research, “The global artificial intelligence market size is expected to reach USD 1,811.75 billion by 2030, expanding at a CAGR of 37.3% from 2023 to 2030.”
Key Milestones and Advancements
In the last year, ChatGPT has undergone substantial upgrades making it one of the most used language models. Users around the world are utilizing ChatGPT for both work-related activities as well as fun.
- In January 2023, it was estimated that ChatGPT reached 100 million monthly active users. In the same month, it passed prestigious graduate-level exams. It achieved passing grades in law exams for four courses at the University of Minnesota and another exam at the Wharton School of Business, University of Pennsylvania.
- Open AI launched GPT-4, the next-generation large language model in March 2023 with a paid subscription. GPT-4 is accessible through ChatGPT Plus and as an API for developers to build applications and services. As per OpenAI, “GPT-4 is a large multimodal model (accepting image and text inputs, emitting text outputs) that, while less capable than humans in many real-world scenarios, exhibits human-level performance on various professional and academic benchmarks.” Compared to GPT-3.5, GPT- 4 offers enhanced accuracy, creativity, and an advanced ability to handle complex tasks.
- Last month, OpenAI introduced custom versions of ChatGPT called GPTs. With this, anyone can create personalized ChatGPT to help with any specific tasks. Creating this will not require any knowledge of coding. Anyone can create them for their personal use, for the organization’s internal use, or broader audience.
Impact of ChatGPT across different industries
ChatGPT’s wide-ranging applicability and remarkable language skills have led to its widespread use across different industries. According to a survey by Gartner, “70% of organizations are currently in exploration mode with generative AI.”
Customer Service
Businesses are leveraging the power of ChatGPT to streamline and automate responses to common inquiries. By providing prompt and accurate solutions, businesses can optimize the overall customer service experience.
Content creation
Creating and editing content such as articles, essays, and marketing materials is another field where ChatGPT has found its application. It acts like a writing assistant and increases the efficiency of content creation.
Education and Training
ChatGPT is assisting education and training by creating intelligent tutoring systems that can personalise the learning experience providing tailored instruction and feedback to students. It also helps in grading assignments, answering student queries, and developing lesson plans.
Healthcare
In the field of healthcare, ChatGPT is helping analyze patient data and facilitate communication between patients and healthcare providers. It is also used in medical recordkeeping, appointment scheduling, providing real-time translation services during doctor-patient interactions, etc.
Legal
Businesses are using ChatGPT to analyze contracts, summarize lengthy legal documents, support legal research, draft legal documents, and interpret and apply complex legal frameworks.
Ethical Implications
As AI rapidly advances, it raises legal and ethical concerns alongwith questions about its impact on society. One of the major concerns is biased and inaccurate outputs, as ChatGPT is trained on a large number of resources, the bais of those sources can reflect in the output generated by ChatGPT. Similarly the inaccuracy in the source data is added to the text generated by ChatGPT which can spread misinformation. Other concerns of using ChatGPT include plagiarism, cheating, copyright infringement, privacy violations, etc. Due to concerns regarding the safety and accuracy of the content generated by ChatGPT, it was banned in New York schools in January 2023.
Future of ChatGPT
As we think about the future of ChatGPT, it’s crucial to prioritize responsible development and ethical considerations. As the AI technology continues to evolve, the future of ChatGPT holds immense promise. A study by MIT Management Sloan School on the impact of generative AI on highly skilled workers has found, “When artificial intelligence is used within the boundary of its capabilities, it can improve a worker’s performance by as much as 40% compared with workers who don’t use it.”
In the coming years, we can anticipate more sophisticated, personalized and powerful versions of ChatGPT. It will revolutionize numerous industries including customer service, education, healthcare, media and entertainment, etc. While it could lead to the displacement of certain jobs, it also has the potential to give rise to new job opportunities pave the way for exciting career options.
