Everything You Need To Know About GPT-3

OpenAI researchers first released the paper introducing GPT-3 in May 2020, and what started out as some nifty use cases on Twitter has quickly become a hotbed of startup activity.

Companies have been formed on top of GPT-3, using the model to generate emails, customer interactions, social media exchanges and marketing copy.

What are its features / What are its applications?

It can create anything that has a language structure – it can answer questions, write essays, summarize long texts, translate languages, take memos, and even create computer code. Listed below are some of the top things that it can do:

Can GPT-3 be a replacement for writer or coder or a human factor?

GPT-3 is a tipping point for artificial intelligence and deep learning. It is a technology that is expected to change the world and make superintelligence closer than we think.

By generating creative, insightful, deep and beautiful content, GPT-3 can serve as an efficient alternative/replacement for a writer or coder.

GPT-3 is remarkable in its ability to generate human-like text and responses and it has great potential for automating tasks.When prompted by a user with text, GPT-3 can return coherent and topical emails, tweets, trivia and much more in your own style of writing.

It can respond to any text that a person types into the computer with a new piece of text that is appropriate to the context. It also has the capability to answer the questions in full English sentences when typed in search box.

GPT-3 can conceivably amplify human effort in a wide variety of situations, from questions and answers for customer service to due diligence document search to report generation. It willtherefore serve as a great helper to humankind in all fields, including software development, teaching, writing poetry, and even comprehending large volumes of text.

How can Businesses leverage GPT-3?

The pandemic has catalyzed the need for digitization and automation to an ever-increasing level. And now with an AI tool so powerful, the list of possible business use cases of GPT-3 is truly immense.

Companies are looking at improving, extending and simplifying their existing application’s capabilities with the help of GPT-3. It can aid businesses in achieving an effective Customer Experience by simplifying things for the consumers and assisting them with advanced voice or text-based user experience. Below are a few use cases of GPT-3.

Enabling Sentiment Analysis in Online Shopping: Almost all online businesses nowadays use chatbots to aid and assist their users. However, a GPT-3-powered chatbot comes with a combined sentiment analysis and advanced recommender systems to persuade the customers in a way salesman would. The human-like text generation will give the user an impression as if they are dealing with an actual human, and in the longer run, this might help in increasing the store’s sales.

Automated Website Generation: Since the pandemic has affected the physical presence of the traditional stores, lot of businesses are coming online with their own websites. It is financially not viable for small businesses to spend lump sum amount on website development and GPT-3 comes to the rescue for such owners. It can generate a fully functional and cool website a lot cheaper than what a web developer will charge

Next-Gen Real-Time Natural Language Translations: The team of Data Scientists, AI Researchers, and NLP experts at OpenAI trained GPT-3 in a way that it can provide faster and more accurate translation accompanied by a very advanced text prediction. These things combined can provide GPT-3 huge leverage over Google or Microsoft’s AI for real-time natural language translation.

Making the Internet Safe: One of the biggest differences COVID-19 has made to society is that it has pushed the entire world online. This increased presence in digital and social media has surged the toxicity on these platforms- Cyber threats, Anti-mask campaigns, conspiracy theorists, online trolls, and the abundance of free-flowing fake news on social media platforms. In such a situation, GPT-3-powered sentiment analysis can come in handy, effectively moderating the content online in real-time and protecting the user base against the toxicity.

These are just a few uses of the many business use cases of GPT-3. The possibilities with GPT-3 are just limitless. Since the GPT-3 came out just recently, the innovations are soon to follow.

Which are all the sectors that can be benefitted through GPT-3?                      

GPT-3 has its user benefits across every sector. Startups and Enterprises in healthcare, financial services, and insurancesector have begun to explore the novel applications of GPT-3. The introduction of GPT-3 in 2020 was a tipping point for artificial intelligence. In 2021, this technology will power the launch of a thousand new startups and applications. GPT-3 and similar models have brought the power of AI into the hands of those looking to experiment.

• Chaitanya Chokkareddy, Chief Innovation Officer, Ozonetel