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ChatGPT is a chatbot built on top of GPT, a generalist conversational AI created by the company OpenAI. Built using neural networks and other algorithms, GPT software is capable of natural-sounding dialogue on any topic. Its main purpose is to create content, but it can also be used as a search or query tool, as a machine translation source, or as an AI assistant.

ChatGPT technology “changes the way you interact with the machine. Since the 1990s, the paradigm has been based on menus and icons,” says Kiron Ravindran, an IT professor at IE University, referring to the icons in the folders we use every day to save or open files. “But from now on the algorithm will follow direct written or spoken commands from users. This means personalized communication has finally arrived.”

What is ChatGPT for?

ChatGPT was designed to create text and answers in response to user prompts. Once the AI is given guidelines and topics to be covered, it accesses information and creates content automatically, using a style and tone that convincingly emulates a human.

This feature makes ChatGPT more powerful than traditional chatbots in handling customer service queries and tracking consumer data at the same time, as it processes data faster and more accurately. The new functionalities will have a real impact on the call center industry. Esteve Almirall, a professor at Esade’s department of operations, innovation and data science, adds that this technology will have implications for apps such as Stripe, a credit card payment processor that interacts with customers and merchants to detect duplicate payments and resolve any existing payment processing issues.

Almirall points out that the greatest transformative effect of ChatGPT will be seen by the software industry. Any user with limited programming knowledge will be able to interact with the tool to write computer code. ChatGPT may provide incorrect answers, but, even so, it democratizes tasks previously reserved to trained specialists. “Estimates suggest that productivity in the software industry will rise by at least 50%, with a clear reduction in bugs and errors. It seems obvious that in future software programming will be chatbot-assisted. The new programming environments will probably rely on ChatGPT to automate tasks such as unit testing,” explains the Esade expert.

ChatGPT also creates content. This makes it a useful SEO copywriting tool in the marketing industry: you can edit content in a range of different formats and craft a single, unified business message for posts on social media or blogs. ChatGPT is hugely versatile for professionals who need to write articles, poems, short stories, tutorials or speeches. It saves time spent on thinking up, structuring and writing material. ChatGPT can also be used to compose personalized emails to customers, putting forward simple but attractive value propositions based on the information provided about the recipient.

These features will lead to a real sea-change in content production, education and legal practice, according to Álex Rayón, vice principal of international relations and digital transformation at the University of Deusto: “Lawyers make a living from reading a vast corpus of case-law, from which they draw out the key points so as to reach a conclusion. This mirrors the value chain that ChatGPT is designed to address: process and summarize textual content, blend it together and generate an output.”

In addition, ChatGPT provides back-office functions that will have a cross-cutting impact on many businesses. The tool offers solutions for entering any form of data, so it can be used as a personal assistant, e-mail organizer or meeting manager. Microsoft has in fact added ChatGPT to its Bing search engine (you can use GPT-4 for free) and already has a beta version of Teams that summarizes meetings in real time and ex post.