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What is GPT-3 AI, and Why is it Relevant To Your Business?

Jack Steward

Updated January 3, 2023

What is GPT 3 AI

GPT-3 (Generative Pre-trained Transformer, third version) is a type of Artificial Intelligence. It uses deep learning to produce human-like text. Created by OpenAI, this new software can be programmed to create any type of written text. OpenAI was also responsible for the GPT-1 and GPT-2 language models.

The range of content GPT-3 can create is extensive–from creative fiction to code. Beyond being able to write like a human, GPT-3 can also comprehend information the same way humans do. GPT-3 can analyze sources instantly, pick out relevant parts of information, and use this info to produce high-quality text.

GPT-3 training chart compared to others
Source: Zdnet

Artificial intelligence has never been closer to humans before. The possibilities that GPT-3 opens up for the workforce are endless. One of the reasons it has become such a major buzzword is because of the potential it holds for content writing.

Instead of getting a human to work on a large body of complicated text, why not let GPT-3 create a high-grade body of work? Despite its benefits, there are also several downsides of GPT-3. This includes the proliferation of spam and social engineering.

But what is GPT-3 exactly, and how does GPT-3 work?

What Is GPT-3?

To put it simply, GPT-3 is an autoregressive language model program. First released in May 2020, GPT-3 remains the AI model with the biggest amount of training data. The program has over 175 Billion trainable parameters.

In terms of how this program works, it can both be described as a neural network and a statistical program.

A neural network model is a specific type of statistical program. This AI technology can link together relevant pieces of data and operates in a similar fashion to the human brain. The neural network model is used for calculating various complexities. This includes detection and market research.

GPT-3 is more advanced than most neural networks. This network type normally generates a numerical answer or simply a ‘yes’ or a ‘no.’ A GPT-3, on the other hand, links together relevant information to produce long-form text.

What Can GPT-3 Do? 

The list of things you can train GPT 3 to do is nearly endless. To give you an idea of its range, here are some of the program’s most complicated and impressive skills:

  • Text translation
  • Write poetry
  • Hold human-like conversations
  • Answer complex queries
  • Write long-form copy that is grammatically correct and interesting
  • Summarise text
  • Read and analyze text
word image 151819 2
An app has 2 GPT-3 based bots debate each other. This is one of 14 GPT-3 apps profiled by YouTuber Bakz T. Future. Source: VentureBeat

GPT-3 is the first piece of AI technology that can produce work almost indistinguishable from writing completed by humans.

What Are The Benefits of GPT-3?

GPT-3 gets a lot of press that mostly talks about the implications of this technology for the many industries that rely on content. However, there are undeniable benefits to employing GPT-3 in the workplace. This includes the following:

Code Generation

Writing out computer code can be an incredibly taxing endeavor, especially if you’re not too knowledgeable in the field. With the help of GPT-3, all you need is to be able to describe the kind of website you want code written for, and the AI will take care of the rest.

The simpler you write the page description or design element, the more accurately the AI can create what you’ve described. Plain English is preferred.

Computer code follows specific rules and syntax, which is why GPT-3 is so good at writing it. Once GPT-3 comprehends the code patterns, it will be able to generate code of its own based on your written notes. For this reason, GPT-3 can be used to generate code in several code languages.

Comes With Generative Pre-Training

The language model comes with the ability to predict the next token in a sequence of words. Thanks to generative pre-training, it knows the rules of grammar and syntax. With this, it can create coherent and grammatically accurate pieces of business content.

Makes Research Easier

GPT-3 can work alongside humans in making the research process easier. While taking notes, GPT-3 can be used to expand on each point written down. It can be set up to research points further, rephrase what is already written, or summarize and make your notes more concise.

This means you can focus less on your notes making sense, as the GPT-3 is there to make sense of them.

Use Cases of GPT-3

Given its human-like qualities, GPT-3 is a great complementary tool that can ease workloads for many industries. While GPT-3 isn’t at the stage where it can truly replace the human workforce, there are certain tasks–often those considered tedious and repetitive–that can be assigned to AI instead.

US companies that use AI statistics
Source: Zippia

Some of the most common use cases of GPT-3 include:

Chatbots

If you run an online shop, having a chatbot available can help secure sales and improve your customer service. However, it can be difficult to find someone to be present 24/7 to answer questions for you. Plus, many customer queries are very generic and could be answered easily.

GPT-3s, therefore, make great candidates as your chatbot monitor. Given that GPT-3s can generate human-like text, the customer will feel as though they are chatting with a real human on the other end.

You can set up a GPT-3 to understand how your business works and generate genuinely helpful responses to customer queries.

Blog Content Writing

Although it would definitely be recommended to keep human blog content writers on your team, GPT-3s can help by taking on some of the workload.

GPT-3-enabled AI writing assistant software is particularly adept at creating numerous short-form copy options for less creative-intensive content such as emails or pay-per-click ads. They’re also handy for keyword research.

Not only does this help lighten the workload, but it also means that you and your colleagues can focus on other, more important content pieces.

However, it’s definitely worth carefully proofing any article produced by a GPT-3, especially longer ones. You can’t expect perfect content from a GPT-3, as mistakes still can happen.

Financial Advisor

You can set GPT-3 to analyze the conditions of the market to provide you with solid investment advice. This could help you to buy stock. Alternatively, you could create a financial advisor chatbot with GPT-3. This will assist your customers in making financial decisions.

Of course, financial advice from GPT-3 is purely technical. It should not be 100% relied upon. Both the crypto and stock market are unpredictable, and even AI cannot predict sudden changes.

Automated Social Media Management

If you need to maintain a highly active social media account for your business, you can let GPT-3 take over. GPT-3 is capable of generating enticing social media posts that maintain your company’s voice.

Not only can this natural language processing software be used to generate your content. It can also be used to come up with unique and relevant social media post concepts.

Risks Encountered With The Use of GPT-3

Investing in GPT-3 for business can definitely make running operations a lot easier, but it is not without its downsides.

The Proliferation of Content Spam

Anyone proficient in search engine optimization (SEO) knows the dangers of creating content spam. Content spam relates to anything irrelevant or text that has been copied and pasted from another source.

In the past, content spam was a valid means of increasing your web page rankings. Today, Google is stricter about ensuring high-quality content.

The machine does not understand when it is creating content spam. Given how it can often generate repetitive sentences, GPT-3 may accidentally end up producing spam.

Malicious Social Engineering

GPT-3 could be used for scams, fraud, and malicious social engineering. Being able to gather a wide range of information, GPT-3 could be used to trick someone into doing something. Essentially, this powerful AI could be used to threaten someone online.

Job Loss

adults that believe ai will result in job loss sta 1
Source: Zippia

While GPT-3 still has to be edited closely, it can create human-like content quite impressively. Eventually, as the technology improves and artificial intelligence gets better at writing, it might pave the way for job displacement.

It’s unlikely that GPT-3s will replace the workforce completely any time soon. However, it will be a contributing factor to unemployment in the future.

Management will realize how much money could be saved by giving job roles to GPT-3s instead of real people.

Identity Theft

Not only can this artificial intelligence be used to replicate fake news articles, but it could also be used to steal someone else’s identity. By taking the ideas and words of another article and replicating them, all kinds of plagiarism issues and identity theft could come about through the use of GPT-3.

Limitations of GPT-3

Not only are there several risks associated with GPT-3. There are also general limitations that users should be familiar with before using, including:

GPT 3 Can Still Make Mistakes

GPT 3 can still commit silly mistakes when performing tasks. It may be a jack-of-all-trades, but it cannot be described as being particularly proficient in one particular area.

Doesn’t Hold Any Information

Despite its computing power, GPT-3 does not actually hold any information itself. The machine learning model simply uses smart predictive text to produce relevant and coherent work.

GPT-3 does not remember anything it reads or writes about in the long term. It is not designed to hold information after it has completed a task.

Limited Transparency

Like all black box language models, it’s impossible to determine how GPT-3 arrives at conclusions. It can merely reveal its inputs and show you its outputs. You cannot uncover any analyzing or calculating that went on in between.

Slow Working Speed

Although this language model can work around the clock, it doesn’t necessarily mean it can complete tasks at a fast rate. Although it may finish a task faster than a human could, GPT-3s have slow inference time, meaning that results are generated at a slow rate.

The Future of GPT-3

Despite being available for over 2 years now, the full impact of GPT-3 is yet to be realized. As far as language models of the past go, the business world has never had anything close to GPT-3 before. It is presumed that GPT-3 will continue to make itself more present in all areas of business, across many industries over the coming years.

Businesses should get comfortable with GPT-3, as it won’t be long before the much-anticipated GPT-4 gets rolled out, which was scheduled to be released during the summer of 2022. To date, however, there is still no sign of it. Still, machine-learning experts forecast its release to be imminent.

GPT-4 will bring us closer to AI alignment, meaning that it will perform exactly as it is intended to do. GPT-4 will also:

  • Be bigger
  • Perform better at multitasking
  • Feature more parameters
  • Be more responsive to human-made errors

Conclusion

The idea of a language model performing complex written tasks would have once been considered impossible. The third version of GPT can generate web pages that appear as though they were written by a human. In doing so, GPT-3 has changed the face of the business workforce as we know it.

At a time when fake news dominates, the need for truthful writing has never been stronger. This, coinciding with the imminent release of GPT-4, will surely define how written work is carried out from now on.

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Jack Steward

Jack is passionate about technology and has been building his own apps, plugins, and websites for over 5 years. When he’s not testing software, you’re likely to find him prepping for the marathon or backpacking in southeast Asia.

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