What ChatGPT’s New Features Mean for Your Business
Yesterday was OpenAI’s first developer day in San Francisco, where CEO Sam Altman took the stage to recap what OpenAI had done so far, and share improvements and new features, focusing on its flagship tool ChatGPT. What ChatGPT’s New Features Mean for Your Business The implications of his announcements were huge for millions of businesses around the world. You’ll want to know what they mean for yours.
Altman reminded the audience that on November 30, 2022, they launched ChatGPT as a “low-key research breakthrough.” He described that launch as “pretty good,” and went on to say that GPT4 is “still the most capable model in the world,” as well as telling the audience that ChatGPT has two million developers, 100 million weekly active users, and the tool is used by 92% of Fortune 500 companies. Their strategy is based more on the product than on marketing. “People just find it useful and tell their friends about it,” what ChatGPT’s new features mean for his business, he explained, and “we love hearing the stories of how people use the technology.”
OpenAI Developer Conference: Implications for Entrepreneurs
Among the various new features and updates, including better understanding of the world, increased customization, higher fee caps, What ChatGPT’s new features mean for your business, reduced costs, and stronger copyright shields, are some game-changing functionalities that will have a direct impact on entrepreneurs and their businesses. Here are the top four.
Writing code without a developer
“OpenAI just turned English into a programming language,” What ChatGPT’s new features mean for his business, says fast-moving entrepreneur Kyle Balmer. “Their new API Assistants will mean that any business will be able to deploy their own no-code tools using natural language.” The power of this is enormous. Entrepreneurs have a lot of ideas. Being able to turn ideas into products by describing them in natural language will mean that the time between concept and MVP can be reduced to hours, if not minutes, and the cost eliminated entirely.
Calculate more data for less money
“The update of ChatGPT’s contextual window, which now supports up to 128k tokens, represents a substantial improvement in its capabilities,” says Álvaro Cintas, an AI educator, who explains that one token is roughly equivalent to four characters in English. “With this update, ChatGPT can now compute about 300 pages of text at a time, significantly increasing its processing power.”
Deploying customizable GPT chatbots
“This will revolutionize the digital landscape,” says Dan Fitzpatrick, an AI educator who helps schools strategically integrate AI. What ChatGPT’s new features mean for your business “Altman’s demonstration on stage signals an impending shake-up in mainstream education. It is clear that our current educational structures are not prepared for such a transformative technology.” Schools, like businesses, will need to think quickly to figure out how to incorporate these launches into their work.
Education aside, the potential for businesses is enormous. OpenAI won’t be the first or the last company to create custom GPTs, and now entrepreneurs have choices on how to distribute their content to grow their brand. “They have to evolve or risk becoming obsolete,” Fitzpatrick says of schools, a view that also applies to businesses.
What ChatGPT’s New Features Mean for Business Owners
As with all disruptive technologies, there will be winners and losers. What ChatGPT’s New Features Mean for Your Business The winners will be entrepreneurs who use it to drive more results and make more impact with less time and money. Those who know how to learn a new platform, discover the opportunities and get to work to maximize the results.
The losers are those who don’t adapt, are outclassed, or can’t find a way to differentiate their offer from what already exists. The challenge is clear and the mission is yours. How are you going to take advantage of it?