ChatGPT still in early stage of verifying its industrial value: Report

Thimphu [Bhutan], February 20 (ANI): ChatGPT, a small step for generative AI, is still in the very early stage of verifying its industrial value. It is more like an electronic pet at this moment and not a leap forward as many people might think, The Bhutan Live reported.

ChatGPT, the new AI chatbot developed by Microsoft-backed OpenAI, is generating a lot of hype worldwide because of the high degree of “intelligence” it has showcased, which has made many worry that they will soon lose their jobs to AI, according to The Bhutan Live. The chatbot which interacts with users in a conversational way, has demonstrated its capabilities in writing poems, essays and research papers, programming computers and even taking master-level exams.

Generative AI describes AI algorithms that can be used to create new content, including text, image, video, audio, code and synthetic data. The excitement around ChatGPT shows that the hype circle over generative AI is peaking, which is being sold to investors as the tech world’s next big thing. Over the past couple of years, the tech world has witnessed several rounds of hype over quite a few things, including the metaverse, NFTs (non-fungible tokens), blockchain and cryptocurrencies.

And just as Silicon Valley is seeing a slowdown that has led to massive layoffs by tech giants such as Microsoft and Google, the buzz around ChatGPT quickly grabbed global attention, according to The Bhutan Live. Microsoft on January 18, announced that it is planning to cut 10,000 jobs due to low software demand as a result of the weakening economy. This affected upto five per cent of Microsoft’s global workforce.

Microsoft a few days later said that it is making a “multiyear, multimillion-dollar” investment in OpenAI, without disclosing a specific number. But multiple media quoted a person familiar with the matter who said the investment totals USD ten billion. ChatGPT’s global popularity gave tech giants a new bright spot to grab public attention. Generative AI actually has far more value in the real economy, basic scientific research and digital economy rather than in the internet sector, according to The Bhutan Live.

According to the media, just over a week after Microsoft unveiled its new Bing search engine powered by the technology behind the ChatGPT artificial-intelligence chatbot, The Wall Street Journal reported that early testers were calling out mistakes and disturbing responses generated by the technology.

Microsoft said that the search engine is still a work in progress, describing the past week as a learning experience that is helping it test and improve the new Bing. So far, only a select set of people have been given access to it. The company said in a blog post late Wednesday that the Bing upgrade is “not a replacement or substitute for the search engine, rather a tool to better understand and make sense of the world.”