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Tata Capital > Blog > What Is Chat GPT and How One Can Use It

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What Is Chat GPT and How One Can Use It

What Is Chat GPT and How One Can Use It

The Internet revolution has brought about the era of Artificial Intelligence. And it’s here to stay. To the point that AI has seamlessly blended into our daily life.

Our dependence on AI keeps increasing as technological innovations make life more convenient. ChatGPT is the latest of them and the world just can’t stop gushing about it. So, what is chat GPT and what’s all this excitement about?

In this blog, let us look at the what, why, and how of ChatGPT.

What is Chat GPT?

ChatGPT, or Chat Generative Pre-trained Transformer, is an AI chatbot created by OpenAI. It is a Large Language Model (LLM), trained on massive amounts of language data to accurately predict the next word of a sentence.

Reinforcement Learning with Human Feedback (RLHF) was used to train ChatGPT. This is why the AI’s responses are remarkably human-like and conversational, the reasons for the technology’s viral fame.

How does it work?

In simplistic terms, the AI was taught what kind of responses humans expect when they ask a query. The AI trainers provided conversational data for the model, and they also ranked the model’s different responses to sample questions based on their quality.

Using such a reward-based model, the AI constantly keeps learning and modifying its strategy to answer questions better.

How to use Chat GPT?

Talk of this chatty AI is everywhere, but how to use Chat GPT?

While apps are the most easily accessible form of technology, there’s no official app for ChatGPT. But it can be accessed just as easily from OpenAI’s website on your desktop or mobile. Here are some quick steps to follow to explore ChatGPT and enjoy its benefits:

1. Go to chat.openai.com and choose to Sign up.

2. Enter your email address.

3. Create your password.

4. The AI needs confirmation that you are indeed human before deciding to talk to you. So verify that you’re human.

5. Verify your email address by going to your registered email’s inbox and clicking on the verification link sent to it by OpenAI.

6. On your ChatGPT screen, you will now be asked to enter your first and last names. Enter them.

7. Verify your phone number with a verification code sent to it via SMS.

8. Type in your question and start exploring ChatGPT and its various skills.

What does it do?

We’ve seen how to use ChatGPT, but why should we use it? What can it do?

Testing out chatbots is always fun. This way, you can find out what the chatbot can and cannot do. As it turns out, there are very few things ChatGPT can’t do. Here is a non-exhaustive list of things this friendly, conversational AI can do for you:

1. You can get any text translated into a different language of your choice.

2. You can ask the AI to write computer codes for you. When you give it a scenario, ChatGPT can write codes for it. It can even debug your code.

3. It can write you a poem or even an entire song. This learned creativity of ChatGPT is what sets it apart from other chatbots.

4. It can write an essay on any topic. It can even write you a whole research paper.

5. It can create content for marketing, product descriptions, blogs, etc.

6. It can explain any concept or topic to you at your desired level of complexity. It can tell you about quantum physics in a way that even kids can understand.

7. It can solve math problems or any academic assignment in general, giving you a detailed step-by-step explanation. We only wish this had been around when we were in school!

8. It can hold a conversation with you. This AI’s responses can make you forget that you’re talking to a bunch of code and not an actual human!

What can’t it do?

Like any human-made innovation, ChatGPT has its own set of limitations:

1. ChatGPT can sometimes give you plausible-sounding but wrong or factually incorrect responses.

2. While some variations of a question can get you a detailed answer, some variations may lead to ChatGPT telling you it doesn’t know the answer.

3. It can sometimes be too wordy or repeat certain phrases in its quest to seem human-like.

4. Instead of asking clarifying questions when faced with ambiguous queries, it tries to guess the user’s intent and answers accordingly. In such cases, the results may not always be as expected.

In Conclusion

ChatGPT is an AI that has limitless applications in the real world. But as with any technology, you should be conscious about where and how to use it. When used smartly, it can be very beneficial.

At Tata Capital, we have our own chatbot called TIA. While she can’t help you with quantum physics, she can definitely help with your financial queries. So, chat with Tia today to find out how Tata Capital can help you with your financial needs and goals!

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