This new Generative AI will transform multiple industries soon. So, let us understand what it is and how it can change what you are doing.

Today, we will explore the AI that has caught everyone’s imagination - ChatGPT. 

This new Generative AI will transform multiple industries soon. So, let us understand what it is and how it can change what you are doing. 

Unfortunately, there are not many resources for this nascent technology. So, I explored this technology so that you can get a quick overview and how you can go deeper. 

This is based on a club session we had recently. Thanks to all that attended and if you could not, I summarize below, a few takeaways. You can watch the video recording below to dive deeper.

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What is ChatGPT and How does it work?

ChatGPT is a conversational AI that generates "Human-like" responses to your questions - “prompts”. It is based on the GPT (Generative Pre-training Transformer) language generation model developed by OpenAI and hence the name “Chat  GPT”.

Here is a quick summary of how it works:

  • This is a Large Language Model (LLM) that generates your answer word by word by predicting the next word in the sentence for your given prompt. Think of it like a kid learning a language.
  • Now, this kid (GPT 3.5 model) has been trained on a huge corpus of data. It is trained on 175B parameters with an estimated cost of 355 GPU years ~$4.6 million.
  • Then this model was further trained by people to better align the model outputs with user intent. The model is told what it did well and what needs improvement and further reinforced through a reward mechanism - earning points for good performance and losing points for mistakes.

Why should we bother about this? Well, AI is now consistently surpassing human performance benchmarks in speech and image recognition, reading comprehension, and language understanding. As the models get bigger, they deliver human-level and then superhuman results which will disrupt the way we work and live. Let’s explore how.

What can ChatGPT really do? 

We are seeing an explosion of use cases for Generative AI in general. Here are some of them:

  • Text: Generative AI can be used to generate articles, product descriptions, and customer support responses, among other things. This is especially useful for Marketing.
  • Code: Generative AI tools like GitHub Copilot is generating about 80% of code even for experienced programmers. 
  • Image: Generative AI can be used to generate realistic images, such as faces, buildings, and even 3D scenes.
  • Video: Generative AI can be used to create realistic and coherent video content. It can also edit video content with prompts.
  • Speech: Generative AI can be used to create a lifelike speech for virtual agents or to provide voice-over for videos.
  • 3D: Generative AI can be used to generate 3D models, such as architecture, engineering, and product designs.

We are seeing signs of this impacting Intelligent Automation. I covered this in our newsletter on Prompt Based Automation (PBA). You can read about it here.

Here are some Enterprise use cases from McKinsey.

How can you get started and keep up?

Here are some ways I think you can get started and keep up:

  • Learn by doing: ChatGPT is free right now. Pick use cases for your area, try out different prompts, and learn as you go.
  • Online courses: These compress the experience of people ahead of you into easy-to-learn formats.
  • Mentors and Coaches: Look for mentors that can guide you on this journey. They can answer questions and accelerate progress.
  • Communities: They connect you with other professionals who share knowledge, and best practices, and help you stay up-to-date. We have one you can check out here.

Session Video and Downloadable prompts 

ChatGPT Session

Download the prompts you can use to 10x your productivity here.

That’s all for this edition of the newsletter. See you again soon!

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