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ChatGPT’s inaccuracies mean it won’t be taking anyone’s job just yet, but its tailored answers could challenge search engines, says GlobalData

December 2022 by GlobalData

Following the release of ChatGPT, a chatbot created by OpenAI that uses generative AI to respond to people’s queries. It prompted concerns that it could have capabilities which would put jobs at risk, replacing copywriters, journalists, those in customer service or programmers.

Sarah Coop, Analyst at GlobalData, a leading data and analytics company, offers her view:
“ChatGPT is a breakthrough for conversational platforms in general and natural language processing (NLP), however, it won’t be taking anyone’s job just yet. The generative AI tool is impressive at producing long-form written content at lightning speed, but results are varied and can be problematic.

“Stack Overflow, the popular question-and-answer site for coding and programming problems, has already banned answers generated by ChatGPT due to the probability of receiving incorrect answers. ChatGPT is fascinating, but its only major use, for now, is fuelling memes and threads on Twitter.

“There is plenty of promise for the app, with a little further development, it could have major implications for things like customer service as it can replicate such human like text.This is a sought after feature and has led to the increase in revenue of conversational platforms. The latest report from GlobalData’s Thematic Intelligence team, ‘Thematic Intelligence: Machine Learning,’ reveals that conversational platforms revenue will double by 2026, reaching over $18 billion, up from just $7 billion in 2022.

“ChatGPT has generated a huge amount of interest from the public, largely avoided offensive language (the same cannot be said for chatbots like Microsoft’s Tay), and has proved capable of creating long-form content.”
Emma Taylor, Associate Analyst at GlobalData, offers her view:

“Many of the uses for ChatGPT are overambitious and exceed its actual capabilities, such as replacing large swathes of the working population. However, it might be capable of challenging search engines such as Google. ChatGPT can supply entirely tailored and specific answers to very particular questions—all without ads—offering it an advantage over current search engines.

“Another OpenAI platform making headlines is DALL-E 2, which uses computer vision to create images from user inputs. GlobalData’s report, ‘Thematic Intelligence: Machine Learning’, reveals that computer vision accounts for almost 50% of revenue in the specialist AI applications segment of the global AI market. Indeed, computer vision will account for 18% of AI spending in 2026.”

“Like most of Elon Musk’s projects, OpenAI, responsible for ChatGPT and DALL-E 2, will continue to make waves in 2023 with new generative AI creations. This could lead to new lucrative deals and partnerships for OpenAI, reminisent of Microsoft’s $1 billion investment in 2019. These easy-to-use interfaces have transformed the public’s perception of AI from a niche, exclusionary, complex, and mathematical phenomenon to a creative and easy-to-use tool for the masses”.

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