ChatGPT has dominated the headlines of late as technological change has permeated the creative industries. We talked to experts in AI and robotics to get the facts about the future of ChatGPT and generative AI. Then, we followed up with a public survey to understand what the general population knew about the technology. The answers may surprise you.
What is fact and what is fiction when it comes to ChatGPT? Let’s explore. New to the ChatGPT space? Check out our ChatGPT Investor Guide to better understand the how and why of technology.
THE FUTURE OF CHAT GPT
According to our strategic advisory board of AI experts, there is no doubt that this technology is here to stay. Somewhat confidently, an AI expert from one of the world’s largest technology companies commented, “ChatGPT is very real and impressive. This is not a parlor trick. This is a very disruptive technology. It won’t go away. We have to learn to live with it and integrate it into society.”
There’s a long way to go in terms of developing and fine-tuning products and services like ChatGPT, but experts believe it certainly represents a big step forward in the world of AI.
Interestingly, in our survey of the general public (including people between the ages of 18-65+ across the US) we found that more than half of respondents classified ChatGPT as a trend and more than one-third have never heard of the program at all.
PROS & CONS OF PROGRAMS LIKE CHAT GPT
Our strategic advisory board considers ChatGPT to be a powerful tool that also comes with limitations and concerns:
- ChatGPT is not a search engine.
- The data analyzed only goes to 2021.
- Responses are not fact checked.
- ChatGPT can pick up and repeat human biases.
- There is potential for plagiarism.
But with such concerns also comes increased access and societal benefits:
- Automation of simple procedural tasks (ie, basic legal services)
- Creating content that is accessible to a wider public
- Excellent summarizing tool
Another AI expert said, “ChatGPT can help society by providing a search and conceptualization tool. For example, a lawyer can use ChatGPT to find summaries of similar cases and evidence. In Overall, ChatGPT can be used to support research in any field — law, government, medicine, etc. by synthesizing information from vast data sources. It is important to note that for this information to be useful, it also needs to be fact checked.”
INVESTING IN CHAT GPT & GENERATIVE AI
Not surprisingly, those in our survey who are familiar with ChatGPT are more likely to invest in generative AI and to increase their exposure to the technology in the future. 
We believe this only reinforces the importance of educating investors about the growth potential these transformative applications of AI bring. Don’t trust us? Just ask the experts. All of our advisors confidently believe that this technology is here to stay and its impact will be felt in many aspects of our lives.
As an AI expert from a leading research university in the US said, “ChatGPT’s unique contribution is putting the power of AI tools in the hands of the community. For the first time, there is an AI tool that everyone can use, independent of their AI training. ChatGPT democratizes the use of AI in language tasks.”