ChatGPT is AI’s version of the Wright Brothers’ first flight. It has completely changed our perception of what technology can do. Suddenly, it’s possible to ask a computer complex, and often very esoteric questions, and receive a response that strongly resembles the work of another person. But it’s an imperfect tool and businesses should not rely on it to write website or blog copy, thought leadership articles or other content.
All artificial intelligence systems work the same way. They are ‘trained’ with a sample of data that they categorise using rules. ChatGPT has been trained with a massive set of data and about 175 billion parameters. It differs from other AI models because it also uses human feedback during its training so the risk of harmful, false, and biased outputs is reduced, although it’s not completely removed. This makes it more accurate than other AI models — but it’s not perfect.
Here are five reasons why it might be dangerous for your business to rely on ChatGPT as your new copywriter:
1. ChatGPT lacks style
While this all sounds great — and it is a massive step forward — we need to remember what ChatGPT can’t do. Because it’s been trained with a specific set of data, the answers it can give are a reflection of that data. So, you could ask ChatGPT to write a sonnet in the style of Shakespeare, but it can not create its own style. If you want your words to sound like they come from your business, are consistent with your brand messaging, tone and identity, you’ll need to write them yourself.
2. Contextual awareness
When you’re writing copy for your website, a blog article or for publication with the media, specific context matters. While ChatGPT has probably “read” more data than any one person could in a lifetime, it doesn’t understand the context of those words, where they have been used or where they may be used in the future. ChatGPT’s understanding of context is based on how frequently words occur close to each other rather than real situational awareness. ChatGPT is not cognisant of shifts in social expectations and may offend sections of the community, leading to your business being embroiled in a controversy that impacts your reputation negatively.
3. It makes mistakes
ChatGPT may seem all-knowing but it’s not infallible. The Stack Overflow website, which is used by coders to answer questions about programming, has banned answers from ChatGPT because they are often wrong. The big problem, according to the site moderators, is “that while the answers which ChatGPT produces have a high rate of being incorrect, they typically look like they might be good”. While ChatGPT may be useful for initial research, it is not 100% trustworthy. There have been many examples where ChatGPT makes up facts and cites fabricated research. ChatGPT’s “facts” have to be independently cross-referenced to ensure you are not releasing content that is found to be fake, wrong or misleading as this can make your business look incompetent or worse untrustworthy and a proponent of fake news that lead to legal issues.
4. Jack of all trades…
The saying “Jack of all trades, master of none” applies to ChatGPT. While ChatGPT has an approximate knowledge of many things, it is not a subject matter expert. The people in your business are the experts in specific fields. When writing content to support your business, you will lean into your understanding. This will often go beyond facts. Great writing is a reflection of experience as well as information. ChatGPT can give you facts, with varying degrees of accuracy, but it doesn’t have your experience.
5. Sources and a legal unknown
ChatGPT is based on another AI tool called GPT-3. This was trained with millions of books as well as data from internet databases and other sources. According to its creators, OpenAI, it has learned by reading about 300 billion words. When ChatGPT returns an answer you have no way of knowing what sources it used and, unless you do some follow up, whether its responses are actually original. This could lead to legal issues like those Dall-E, the image processing equivalent of ChatGPT, has faced.
ChatGPT can be a helpful tool. Like Wikipedia and other online resources, it can be a useful starting point for research or to get ideas. But it can’t replace the creativity, awareness and experience that human writers bring.
Anthony Caruana and Kathryn Van Kuyk are co-CEOs of Media-Wize.
One of the hottest topics on the net right now is how to make money with ChatGPT. Our article discusses 13 simple ways to use the AI tool to make money. And we’ll provide a few practical examples of what to do to get what you want from the AI.
Open AI, co-founded by Elon Musk and headed by CEO Sam Altman, created ChatGPT based on GPT-3.5 (Generative Pre-Trained Transformer) technology. The AI chatbot is remarkably capable of engaging in real conversations and responding with astonishingly human-like text.
ChatGPT is exciting and opens up endless possibilities for how we interact with technology.
Our List of How To Make Money With ChatGPT
A large language model can predict the next word and generate written content.
ChatGPT learns to follow instructions and provide appropriate responses to humans using RLHF (Reinforcement Learning with Human Feedback). RLHF is a fantastic extra training layer. ChatGPT is a great example of how the field of NLP (Advanced Natural Language Processing) is advancing exponentially. This new natural language model allows users to have real conversations with a machine more intuitively and naturally.
Keep in mind the importance of crafting clear and detailed prompts when using ChatGPT. It’s not so much that you have to train the AI bot. Rather, you have to train yourself in what you should ask it to do, how you phrase your requests, how much detail you need to provide, etc.
You’ll need to carefully review what ChatGPT writes and then review the instructions you’ve given it. Keep adding or changing until you get the correct answer. You can also use a great tool called Originality.ai (still in beta at this stage) to check your work. It helps by assessing the text for % AI-generated content and plagiarism.
ChatGPT is a very powerful and large AI system, yet some generated information may be inaccurate. Edit anything and everything it produces and check the facts.
1. Create Videos Using ChatGPT
You can combine ChatGPT with other technologies to create videos you can sell to make money. Use these programs together and cleverly to make excellent videos.
Below are some examples of these technologies.
Pictory, Murf.ai, Speechify, etc., use AI technology to automatically turn long-form text and video content into short videos. Short videos are great for social sharing, product recommendations, explainer videos, product demos, or other marketing videos. And ChatGPT is the perfect tool to create the right scripts or video instructions.
Once you’ve created your video, you need voice-over. ChatGPT can create voice-over scripts. And text-to-speech technologies can transform them into the voice-overs you want.
How to make money online with ChatGPT? You could use ChatGPT to generate scripts or instructions to create visual elements of the videos and scripts for professional-sounding voice-overs.
Below is an example of a voice-over and video script that took seconds to generate. Adding more detailed instructions will get the best results. You can also add the keywords you’ll need for SEO.
Video production is always in demand; people generally prefer watching rather than reading.
2. Update Video Descriptions
YouTube gives us about 5000 characters or around 500 words for video descriptions. It’s usually the first 150 characters that will show in your search results. This is the part that has the most impact on what the audience does, and YouTube classifies it for SEO purposes.
Copy and paste your existing video description in the ChatGPT prompt and instruct it to rewrite. Make sure ChatGPT uses the simplest language possible, writes no more than 150 characters, and includes what the video is about from an SEO standpoint.
YouTube’s default sorting algorithm is by relevance. So the more relevant you can make the title to the search query, the more likely it is to appear in a search.
Once you get used to the instructions you need for ChatGPT to update YouTube video descriptions, it can almost become your virtual assistant. You can offer your services as a description updater and SEO optimization specialist.
Bear in mind there are billions of videos on YouTube; if you market your services well, you should get plenty of work.
3. Offer Copywriting Services
Copywriting can be tedious, especially if you have to write day in and day out. I find that ChatGPT helps with inspiration or writer’s block. A content creator crafting persuasive and effective copy that will convert often just needs a push or a new direction.
You can instruct ChatGPT to write using specific copywriting frameworks like PAS, AIDA, and BAB. For example, use prompts such as:
Generate a PAS (Problem, Agitate, Solve) for this written content.
Write a BAB (Before, After, Bridge) about this topic.
Create an AIDA (Attention, Interest, Desire, Action) for this article.
Get the AI to rewrite till you get something close to what you can use. Then you can offer professional copywriting services, whether it’s website copy, product descriptions, or ad copy.
By using ChatGPT to assist you, you can generate copy much faster.
4. Write and Self-Publish E-Books
Trying to get ChatGPT to write a full-length fiction novel is a time-consuming process. You need to work with the AI to get what you want and keep refining your prompts. Below is an example for a standard romance novel.
Romance novels are great sellers and are pretty formulaic. Once you get used to the formulas and which person in the novel is the hero, you can quickly write and sell romance books.
Keep going with ChatGPT. If you’re persistent, prepared to do the work it can’t, and patient, ChatGPT may be the answer to making money faster in writing E-books.
5. Offer Translation Services
Language translation seems straightforward, but there is much more to it than meets the eye. To successfully translate text, you have to consider cultural subtleties, technical words, purpose, audience, etc.
Since ChatGPT is a machine learning model, you can train it to translate all the subtleties in languages. But it would cost a fortune and take time.
The fastest way to make money providing translation services is to offer the simplest form of translation. Standard translation doesn’t need idioms or cultural differences in the text. So you can use ChatGPT to translate manuals, training materials, and product descriptions which are massive areas of opportunity.
For example, if you want to test ChatGPT’s abilities, choose a paragraph that’s easy to check. In the example below, a paragraph on standard translation written in English is translated into Spanish.
To check the accuracy of the translation, you could check with Google Translate or ask ChatGPT to translate the generated Spanish back to English and compare the two.
If you look at the example below, the comparison was perfect, with only one word different from the original. This means you could do standard translations without knowing the languages at all.
6. Generate Business Names and Slogans
It is relatively easy to generate business names and slogans using ChatGPT. You could always follow a guide like how to name your business. But you could also prompt the AI model with details on what you want, who the name and slogan are for, location, financial demographic, etc., and it will generate suggestions based on its training data.
For example, ask it to generate ten business names and slogans for a new shoe store in New York City.
It only took a few seconds, and it generated ten suggestions. Test them on Google first to see if there’s anything similar. Then search social media platforms for variations to see if it might already be taken. And you can do a national trademark search online for free or search state by state.
Fiverr is the best place to sell business names and slogans; finding something fresh and new with ChatGPT could help you make some money.
7. Use ChatGPT to Write Code for Simple Web Tools
ChatGPT can do more than generate human-like text. You can use it to design web tools for your website. For example, if you need a calculator that your sales team can use to calculate commission, ChatGPT can create one for you. And if your commission rates change, it takes very little time to change them without paying someone to do it.
8. Blogging
As we all know by now, clear, detailed instructions are necessary for ChatGPT to produce high-quality content that is more likely to be highly original or adopt a certain point of view. You’ll need to include the angle you want to take on the article and any relevant background information.
You have to make the blog your own though, with your own unique voice and perspective. Here you can put Originality.ai to good use by checking the percentage of AI text and plagiarism.
This one’s a bit easier since you’re not asking the AI to write new content for you but only to update existing blog post content to increase traffic. You’ll have to research SEO and decide which keywords to include. Copy and paste and let ChatGPT do the work for you.
As usual, you’re not going to get perfect output, but it can save a lot of time, especially if you need to rewrite or update multiple blog posts. Updating blog posts is essential and needs to be done often, so offering your services to do this may be highly lucrative.
10. Write Social Media Content
Social media posts are where ChatGPT is really impressive. Short tweets, Instagram captions, lengthy articles and postings on LinkedIn, replies, retweets, comments, and scripts from TikTok, Facebook Messenger, and YouTube Shorts are all examples of social media content writing. The shorter the post, the better the output, and it’s so fast!
Below is an example of a recent post for LinkedIn showing how much detail was needed in the query. And you’ll have to keep adding and revising.
At first glance, the output looks quite good. But ChatGPT tends to offer the same sorts of intros, such as “Are you tired of..” etc. It needed editing and personalizing but what ChatGPT gave was a good start.
11. Create a Course and Sell it on Online Learning Platforms
Create a course using ChatGPT and video generation platforms like Synthesia, and sell it on platforms like Udemy, Skillshare, Thinkific, etc.
ChatGPT is great for structuring your courses. It will generate course outlines and advertising copy for you to promote your course. Use Synthesia to create multimedia content to make the course more engaging.
Below is an example of a ChatGPT outline for a 4-week – 2 hours per day course on Prompt Engineering.
12. Write Resumes and Bios
It can be exhausting to look for a job. Just the preparation you need to do before applying can feel a bit like a full-time job. You may need to:
Optimize and update your LinkedIn and other social media profiles
Update your resume
Modify your resume and short bio for each job you apply for
Use ChatGPT to write your resumes, bio, and cover letters and sell your services as an expert.
13. Offer Services Planning Travel Itineraries
Bear in mind, ChatGPT only scrapes data up to 2021. So it’s not current, and the information may not be entirely accurate.
ChatGPT is ideal for itinerary planning because of its extensive knowledge of the world’s nations, cultures, and general geography. Based on your input into the chat, ChatGPT can create and improve an itinerary with an easy level of interaction.
You can use the output as a starting point and add current logistical and price data. The results are outstanding and almost ready to use. This is a great way to use ChatGPT to make money planning travel itineraries.
Wrapping Up: How To Make Money With ChatGPT
Our article just scratched the surface of how to make money with ChatGPT. The possibilities are endless, and you can be creative about how you use it.
As always, new technology can be scary for many people. The first thing to worry about is: will the AI take my job. In some areas, yes, it will, just like any new machine that can move humans out of the way. However, it opens a whole new world of possibilities and paves the way for new job descriptions. For example, prompt engineering is already an in-demand skill set.
ChatGPT is far from perfect and what it generates often needs more editing and input than it’s worth, but it’s getting there, and you can already make money with it.
Read our article on the anticipated release of GPT-4 and how advancements in AI could help your business.
Finally, while using it is free right now, very soon, it will be monetized and expensive to use; after all, it cost billions to develop. According to the Wall Street Journal, Microsoft Corp. (an early investor in the OpenAI startup) intends to integrate ChatGPT and other artificial intelligence capabilities into its products and make them accessible as platforms for other companies to build on.
Amy is a content writer specializing in SaaS and B2B topics. When not writing, she runs a few small niche websites with her husband. They are both accomplished artists and love to travel.
In case you’ve missed the buzz, OpenAI just publicly launched its latest language generation robot, ChatGPT. ChatGPT is a powerful language model that uses deep learning techniques to generate human-like text. In other words, the robot is capable of answering all of your questions and prompts like an intelligent human would.
The model can be fine-tuned for specific tasks, such as language translation, summarization, and question answering. Here are 10 different ways you can use ChatGPT to do work for you and increase your productivity.
1. Write emails
Are you the kind of person who spends too much time thinking about what to write in emails? Say no more (to ChatGPT). By giving a simple prompt such as “write a cold email introducing myself and my company and inviting someone for a meeting,” ChatGPT will give you an example that will work just fine. Didn’t like the output? No worries, you can modify your prompt a little and ask again. The model almost never creates two identical answers.
2. Read faster
Did you forget to read important documents before a meeting? ChatGPT has your back. Copy and paste the document into the chat and ask the model to summarize the most important points for you. No one would ever suspect.
3. Summarize your own documents
Do you need to write a summary version of an article you’ve been working on? ChatGPT can summarize it. If you think the summary misses any details you find important, just say in your prompt what you want it to include.
4. Review your code
Did you spend an entire day coding but now you’re too tired to go back to review everything? Just ask ChatGPT to do it. You can ask the model to spot any possible mistakes in the code and to better organize it.
5. Comment on your code
This is probably one of the most mind-blowing things ChatGPT can do. If you give it a piece of code and ask it to make comments to explain what each block is doing, ChatGPT will give you a commented code. I know it sounds perplexing, and it is.
6. Translate research documents
If you’re a researcher like me, you sometimes find articles that seem interesting but they are in languages that you don’t speak. If you want to be sure that the article contains what you’re interested in, simply ask ChatGPT to summarize the document in the language you want.
7. Study efficiently
If you’re a student, you can use ChatGPT for your own learning. Let’s say you’ve spent the entire afternoon studying about the French revolution and now you want to test your knowledge. Ask ChatGPT to give you 10 questions about the French revolution. You can even ask it to correct your answers!
8. Create content
Content creators out there: Use ChatGPT in your favor! Simply ask the model to create content about the subject you want. Maybe the output won’t be exactly what you want, but it’s always good to have a place to start from. Take advantage of it, since everyone else is.
Personal Uses
9. Have philosophical discussions
Maybe you’re really into a niche topic but have no one to talk to, or you have a deep philosophical question but have no idea who has written about it before. ChatGPT can be your new mentor. Ask broad questions and wait for comprehensive answers. For instance, you can ask “Is there meaning in life? What are some philosophical stances on that topic?” I’m sure the answer will entertain you for at least an entire afternoon.
10. Play games
The games ChatGPT can play are still unknown territory. But you can always explore. Users have reported successfully playing tic-tac-toe and chess with the model. I have played a version of Akinator, a game to try to guess which character the other person is thinking of by asking questions that can be answered only with yes or no. Can you think of other games that the model might be able to play?
Everyone’s asking ChatGPT to do something for them — which is no surprise, since artificial intelligence is expected to be a game changer for business in 2023.
If you’re unfamiliar with the tool, imagine typing a question into Google’s search bar, but rather than sending you to a highlighted answer followed by pages of search results, it talks back in a private chat window. It uses stored information from books, articles, and websites to give you an answer, in complete sentences and paragraphs.
ChatGPT may be able to write an English essay, but there are some things it can’t do, like help you start a business.
While it’s very smart, ChatGPT is only a chatbot; I knew it couldn’t physically start a business for me. But I wondered if it would at least walk me through the initial steps.
So I asked this AI program a series of questions about starting a business.
Here’s how it went.
8 generic steps for starting a business
The main page where you can ask ChatGPT for information.
ChatGPT
When I initially visited the site, ChatGPT served me a 404 page — regular outages are a side effect of its sudden popularity. I refreshed the page a few hours later and was finally able to log on.
ChatGPT doesn’t do much heavy lifting. Its responses tend to be formulaic and broad, lack inspiration, and leave out a lot of useful information.
When I asked ChatGPT how to start a business, it gave me the following eight generic steps:
Starting a business can be a challenging but rewarding process. Here are some steps to help you get started:
Develop a business idea: Identify a problem or need in the market that your business can solve. Conduct market research to validate the demand for your product or service.
Create a business plan: Develop a detailed business plan that includes financial projections, marketing strategy, and a plan for setting up your business.
Raise capital: Determine how much capital you will need to start your business and secure funding through investors, loans, or personal savings.
Register your business: Register your business with the appropriate government agencies and obtain any necessary licenses and permits.
Build a team: Hire employees or contractors to help you run your business, if necessary.
Set up your business operations: Establish your business’s legal structure, obtain any necessary business insurance, and set up your accounting and financial systems.
Develop a marketing plan: Develop a marketing plan that outlines how you will reach your target market and promote your business.
Launch your business: Launch your business, and be prepared to adapt your business plan as you learn more about the market and your customers.
Starting a business requires hard work, dedication, and the ability to adapt to change. It also requires a good understanding of the market, the competition, and the legal requirements. It’s important to have a solid plan, a clear vision, and the right team in place to increase your chances of success.
ChatGPT can cater its answers to the type of business
ChatGPT answering how much it costs to start a laundromat business.
ChatGPT
After asking the chatbot how to start a business, I tried more specific questions, like “How do I start a vending-machine business?” and “How do I start a laundromat business?”
These prompts led to slightly more detailed answers catered to the type of business, though they still fit within the same eight-step format. It suggested identifying potential locations for the vending machines and hiring staff for the laundromat.
Finally, I tested ChatGPT’s knowledge of startup costs. It outlined six overhead costs such as equipment, legal fees, and renovation.
In conclusion, ChatGPT is not a great source for answers to your deepest business questions, but it could be a helpful starting point to gather ideas, get cost estimates, and outline your business plan.
Here’s why you’ve been hearing so much about ChatGPT.
A few weeks ago, Wharton professor Ethan Mollick told his MBA students to play around with GPT, an artificial intelligence model, and see if the technology could write an essay based on one of the topics discussed in his course. The assignment was, admittedly, mostly a gimmick meant to illustrate the power of the technology. Still, the algorithmically generated essays — although not perfect and a tad over-reliant on the passive voice — were at least reasonable, Mollick recalled. They also passed another critical test: a screening by Turnitin, a popular anti-plagiarism software. AI, it seems, had suddenly gotten pretty good.
It certainly feels that way right now. Over the past week or so, screenshots of conversations with ChatGPT, the newest iteration of the AI model developed by the research firm OpenAI, have gone viral on social media. People have directed the tool, which is freely available online, to make jokes, write TV episodes, compose music, and even debug computer code — all things I got the AI to do, too. More than a million people have now played around with the AI, and even though it doesn’t always tell the truth or make sense, it’s still a pretty good writer and an even more confident bullshitter. Along with the recent updates to DALL-E, OpenAI’s art-generation software, and Lensa AI, a controversialplatform that can produce digital portraits with the help of machine learning, GPT is a stark wakeup call that artificial intelligence is starting to rival human ability, at least for some things.
“I think that things have changed very dramatically,” Mollick told Recode. “And I think it’s just a matter of time for people to notice.”
If you’re not convinced, you can try it yourself here. The system works like any online chatbot, and you can simply type out and submit any question or prompt you want the AI to address.
How does GPT even work? At its core, the technology is based on a type of artificial intelligence called a language model, a prediction system that essentially guesses what it should write, based on previous texts it has processed. GPT was built by training its AI with an extraordinarily large amount of data, much of which comes from the vast supply of data on the internet, along with billions of dollars, including initial funding from several prominent tech billionaires, including Reid Hoffman and Peter Thiel. ChatGPT was also trained on examples of back-and-forth human conversation, which helps it make its dialogue sound a lot more human, as a blog post published by OpenAI explains.
OpenAI is trying to commercialize its technology, but this current release is supposed to allow the public to test it. The company made headlines two years ago when it released GPT-3, an iteration of the tech that could produce poems, role-play, and answer some questions. This newest version of the technology is GPT-3.5, and ChatGPT, its corresponding chatbot, is even better at text generation than its predecessor. It’s also pretty good at following instructions, like, “Write a Frog and Toad short story where Frog invests in mortgage-backed securities.” (The story ends with Toad following Frog’s advice and investing in mortgage-backed securities, concluding that “sometimes taking a little risk can pay off in the end”).
The technology certainly has its flaws. While the system is theoretically designed not to cross some moral red lines — it’s adamant that Hitler was bad — it’s not difficult to trick the AI into sharing advice on how to engage in all sorts of evil and nefarious activities, particularly if you tell the chatbot that it’s writing fiction. The system, like other AI models, can also say biased and offensive things. As my colleague Sigal Samuel has explained, an earlier version of GPT generated extremely Islamophobic content, and also produced some pretty concerning talking points about the treatment of Uyghur Muslims in China.
Both GPT’s impressive capabilities and its limitations reflect the fact that the technology operates like a version of Google’s smart compose writing suggestions, generating ideas based on what it has read and processed before. For this reason, the AI can sound extremely confident while not displaying a particularly deep understanding of the subject it’s writing about. This is also why it’s easier for GPT to write about commonly discussed topics, like a Shakespeare play or the importance of mitochondria.
“It wants to produce texts that it deemed to be likely, given everything that it has seen before,” explains Vincent Conitzer, a computer science professor at Carnegie Mellon. “Maybe it sounds a little bit generic at times, but it writes very clearly. It will probably rehash points that have often been made on that particular topic because it has, in effect, learned what kinds of things people say.”
So for now, we’re not dealing with an all-knowing bot. Answers provided by the AI were recently banned from the coding feedback platform StackOverflow because they were very likely to be incorrect. The chatbot is also easily tripped up by riddles (though its attempts to answer are extremely funny). Overall, the system is perfectly comfortable making stuff up, which obviously makes no sense upon human scrutiny. These limitations might be comforting to people worried that the AI could take their jobs, or eventually pose a safety threat to humans.
But AI is getting better and better, and even this current version of GPT can already do extremely well at certain tasks. Consider Mollick’s assignment. While the system certainly wasn’t good enough to earn an A, it still did pretty well. One Twitter user said that, on a mock SAT exam, ChatGPT scored around the 52 percentile of test takers. Kris Jordan, a computer science professor at UNC, told Recode that when he assigned GPT his final exam, the chatbot received a perfect grade, far better than the median score for the humans taking his course. And yes, even before ChatGPT went live, students were using all sorts of artificial intelligence, including earlier versions of GPT, to complete their assignments. And they’re probably not getting flagged for cheating. (Turnitin, the anti-plagiarism software maker, did not respond to multiple requests for comment).
Right now, it’s not clear how many enterprising students might start using GPT, or if teachers and professors will figure out a way to catch them. Still, these forms of AI are already forcing us to wrestle with what kinds of things we want humans to continue to do, and what we’d prefer to have technology figure out instead.
“My eighth grade math teacher told me not to rely on a calculator since I won’t have one in my pocket all the time when I grow up,” Phillip Dawson, an expert who studies exam cheating at Deakin University, told Recode. “We all know how that turned out.
