Chat-GPT, language models and AI have taken the world by storm in 2023. OpenAi’s release of ChatGPT-3 at the end of 2022 brought generative AI capabilities to the masses. ChatGPT-3 had over 175 billion parameters and was trained on 570 gigabytes of text. Driven by its generative language abilities and its surrounding social media hype, ChatGPT has set a new record in user growth and adoption. Within only 2 months, ChatGPT amassed over 100 million users. According to Shenzhen Technology University’s Associate Professor Dr. Markus Rach, ChatGPT’s growth is unprecedented, however not necessarily surprising. Technology builds upon technology and thus enables ever faster user-adoption rates. Put differently, the hurdle to sign up and use ChatGPT was literally non-existent for most of the world’s online population. All that it took to sign up and use ChatGPT was a mobile or stationary computing device. “Fear of Missing Out”, driving by the countless social media posts, accelerated ChatGPT’s signup rate. Its free of use model did the rest.
ChatGPT’s latest release, GPT-4, was highly anticipated by most users and the hype-ridden social media world. It is expected to fuel yet another spike in sign-up and application use cases. Whilst GPT-4 did not sport the anticipated increase in parameters, it shows important improvements over GPT-3, mainly in areas of natural language processing. Whether or not ChatGPT-4 lives up to the hype to establish itself as a useful and trustworthy generative AI model, remains to be seen. As of now, user caution is advised as its predecessor showed reliability and plagiarism tendencies. However, the impact of AI on modern life, business and education cannot be neglected.
As such, it should not come as a surprise that companies around the world invest heavily in AI-technology. As such, Baidu is expected to reveal its language model in March 2023, Russian’s Yandex aims to launch a service before the end of 2023, while Meta and Google have already revealed their competitive AI models. Microsoft, with its USD 10 billion investment in OpenAI, has already gone a step further to integrate ChatGPT-3 into its BING search engine.
To experience ChatGPT and thus the possibilities of generative AI, Associate Professor Dr. Markus Rach will live-feature Chat-GPT in his digital marketing class and has also interviewed non other but ChatGPT-4 itself on why students, educators and businesses must stay on the forefront of the current wave of generative AI developments.
Associate Professor Dr. Markus Rach: Hi ChatGPT-4. Since the launch of your previous version, Chat GPT-3, the world has gone crazy and AI has become the hype technology of 2023. What are reasons for this hype around Chat-GPT?
Chat GPT-4: Hello! Yes, AI has certainly become a hot topic in recent years, and there are several reasons why ChatGPT, and natural language processing models in general, have garnered so much attention:
§ Improved Language Understanding: One of the main reasons for the hype around ChatGPT is its ability to understand natural language at an advanced level. This means it can interpret and respond to human language in a way that is more accurate and contextually appropriate than previous language models.
§ Applications in Various Industries: Natural language processing has a wide range of applications, including customer service, virtual assistants, chatbots, language translation, and content generation. As a result, many industries are adopting these technologies to improve their customer experience, reduce costs, and increase efficiency.
§ Massive Data Training: ChatGPT-4 is trained on a massive amount of data, which enables it to understand the nuances of language in a way that was previously impossible. This has led to more advanced language models that can generate highly coherent and natural-sounding text.
§ Advancements in Hardware: The development of more powerful hardware, such as GPUs and TPUs, has also contributed to the hype around ChatGPT. These devices enable faster and more efficient processing, making it possible to train and run more complex AI models than ever before.
Overall, the combination of improved language understanding, diverse industry applications, massive data training, and advancements in hardware has contributed to the hype around ChatGPT and natural language processing in general.
Associate Professor Dr. Markus Rach: Thank you. Elaborating on this, education is a field which is prone to benefit from the application of language models. I am a marketing professor at the Shenzhen Technology University in China. A modern, innovative and upcoming university. How can I integrate ChatGPT into my marketing courses to enhance students learning and thus their skill-based employability?
Chat GPT-4: Great question! There are several ways you could integrate ChatGPT into your marketing courses to enhance your students' learning and skill-based employability. Here are a few ideas:
§ Chatbots for Customer Service: One application of natural language processing that is becoming increasingly popular in marketing is the use of chatbots for customer service. You could have your students develop a chatbot using ChatGPT that is capable of answering customer inquiries, providing product recommendations, and even completing purchases. This would give your students hands-on experience with a real-world application of natural language processing.
§ Content Creation: Another application of ChatGPT in marketing is in content creation. Your students could use the model to generate compelling product descriptions, social media posts, and email marketing messages. This would give them experience working with advanced language models and help them develop their writing skills.
§ Market Research: ChatGPT could also be used to analyze customer feedback and sentiment analysis in social media posts, online reviews, and other online sources. Your students could use this information to gain insights into customer needs and preferences, which could inform their marketing strategies.
§ Personalization: ChatGPT can be used to develop personalized marketing strategies. Your students could use the model to analyze customer data and develop customized marketing campaigns tailored to individual customer needs and preferences.
§ Virtual Assistants: Another interesting application of ChatGPT is in the development of virtual assistants, which can help customers find the products they need, provide recommendations, and answer questions. Your students could develop a virtual assistant that could be integrated into e-commerce websites, social media platforms, and other online channels.
§ These are just a few ideas, but there are many other ways you could integrate ChatGPT into your marketing courses to enhance your students' learning and skill-based employability. The key is to identify specific marketing problems that can be solved using natural language processing and to provide your students with hands-on experience working with these technologies.
Associate Professor Dr. Markus Rach: Thanks! Any final words on why students in 2023, particularly marketing students, should learn about ChatGPT, AI and language models in general?
Chat GPT-4:Absolutely! There are several reasons why marketing students, and students in general, should learn about ChatGPT, AI, and language models:
§ Future-proofing their Skills: AI and natural language processing are rapidly evolving fields, and it's likely that they will play an increasingly important role in many industries in the coming years. By learning about these technologies, students can future-proof their skills and make themselves more employable in the long run.
§ Improving Marketing Strategies: AI and natural language processing have the potential to greatly improve marketing strategies. By understanding how these technologies work and how they can be applied to marketing problems, students can develop more effective marketing strategies that are tailored to individual customers' needs and preferences.
§ Enhancing Customer Experience: Natural language processing can be used to develop chatbots, virtual assistants, and other tools that can greatly enhance the customer experience. By learning about these technologies, students can develop new ways to engage with customers and improve their overall experience.
§ Innovative Thinking: Working with ChatGPT and other AI technologies requires innovative thinking and problem-solving skills. By learning about these technologies and applying them to marketing problems, students can develop their creative thinking skills and become more innovative marketers.
§ Competitive Advantage: Finally, by learning about ChatGPT and other AI technologies, students can gain a competitive advantage in the job market. Employers are increasingly looking for candidates who have experience working with these technologies, and by developing these skills, students can make themselves more attractive to potential employers.
Overall, there are many compelling reasons why marketing students, and students in general, should learn about ChatGPT, AI, and language models. These technologies have the potential to greatly improve marketing strategies, enhance customer experience, and future-proof students' skills, making them valuable assets in the job market.
Text/Picture: Markus Rach
