People frequently turn to Google for a fast response when they are in need of information or have a problem or concern. Sometimes we wish Google could quickly and accurately determine what we need rather than returning hundreds of thousands of results. Why can't it function like Jarvis from The Iron Man?
However, it is currently not that far. Have you ever seen a chatbot that behaves like a human being, offers advice or assistance as a friend, imparts knowledge as a mentor, fixes your code as a senior, etc.? Your mind will be blown by it.
The new Era of technology- The ChatGPT!
Artificial intelligence is used in ChatGPT by OpenAI to converse back and forth with human users on a variety of topics. The chatbot uses a machine-learning algorithm to scan content on the internet and create a statistical model that enables it to weave words together in response to a query.
ChatGPT converses in a conversational manner, according to OpenAI. ChatGPT can respond to follow-up inquiries, acknowledge mistakes, refute false assumptions, and reject improper requests thanks to the dialogue style.
How does it work?
The modern natural language processing (NLP) model ChatGPT was created by OpenAI. It is a variation of the well-known GPT-3 (Generative Pertained Transformer 3) model, which was trained on a vast quantity of text data to produce replies that are like those of a human being when given input.
ChatGPT combines a neural network architecture and unsupervised learning to generate responses, in contrast to typical NLP models that rely on explicitly created rules and labeled data.
This makes it a valuable tool for managing a variety of conversational tasks because it can learn to generate responses without being explicitly instructed on what the appropriate response is.
Benefit From The "AI Threat"
Instead of delving deeply into Google's finances as we would in a usual piece, we have instead focused on determining whether AI poses an existential danger to the corporation. However, in my opinion, AI is more of a financial opportunity than a threat to Google.
Google invests a lot in R&D, including in the field of AI. In terms of market share, Google dominates. The business has the ability to use macro-level strategies, such as acquiring rivals, as well as micro-level strategies, such as hiring away people to work on AI for Google.
It's just the nature of the beast that tech companies are susceptible to upheaval. Facebook (META) saw Instagram as an existential danger, so Zuckerberg paid $1 billion for the business. For Meta, who was able to gain from the interruption of its own business, it turned out to be a terrific bargain.
The technology industry is prone to disruption, and this risk never completely goes away. While the sector as a whole will mostly make money through fees, a select few astute VCs will continue to make fortunes by recognizing these trends. And that's what is actually seen here: while some technologists have amassed enormous wealth by creating value, we can definitely learn more about people and businesses from the past than we can by making predictions about the future.
Is a rival that drives you out of business, as Apple (AAPL) did to Research In Motion (BB), the greatest threat to investors? Or is the loss of 90% of investor money when investors pay investors 100 times earnings for a corporation the real threat? I'll say it again: AI is likely to present Google with just as many opportunities as threats.
The difference with Google is that you can purchase the business for just 18x projected 2023 earnings, which translates to future growth predicted by analysts to be between 12 and 15% annually. The economy has caused the earnings predictions for 2023 to be reduced, and they may be revised lower again.
Conclusion
Although ChatGPT is still in its infancy and occasionally may give incorrect answers, the way it responds will astound you.
I think it's unfair to compare Google to ChatGPT because the latter can answer complex queries in more detail and nuance than a search engine like Google, which is made to return a list of pertinent web pages in response to a user's query.
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