💥 ChatGPT and how it can help you as a Business Analyst 💥

📑 Overview:

Using whatever prompt you provide, the conversational AI chatbot ChatGPT can create text for you, including emails, essays, poetry, raps, grocery lists, letters, and much more.

ChatGPT Features:

💎 Uses OpenAI's GPT-3

💎 Has the ability to code, perform math operations, and generate text

💎 Offers the ability to converse.

It may converse with you on simple or difficult subjects like "What are colours?" or "What is the meaning of life" in addition to writing for you. Furthermore, skilled in STEM fields, ChatGPT can develop, debug, and even solve difficult mathematical equations.

With ChatGPT, users can ask questions or share stories, and the bot will answer with pertinent, convincing topics. In order to encourage natural involvement with the bot, the user interface is created to mimic a human conversation. It can also respond to follow-up inquiries, acknowledge mistakes, refute unfounded assumptions, and reject improper requests thanks to the dialogue style.

Modern technology relies heavily on artificial intelligence, which operates covertly to mimic human intelligence and assist us in a variety of ways. We are witnessing unprecedented advancements in the field of AI as it continues to develop and expand.

With an excess of fresh innovations, ChatGPT is here to demonstrate exactly how far artificial intelligence has progressed. Here, we'll look at what ChatGPT is, examine if it's free, consider its potential applications, and consider its moral ramifications.

🤷 What is ChatGPT?

We must first have a fundamental understanding of ChatGPT in order to comprehend how it functions. The most sophisticated chatbot to date, ChatGPT is making waves in a variety of online places and is capable of doing many complex jobs. When it comes to creative AI, this ground-breaking chatbot goes well beyond what we may anticipate.

OpenAI, an American artificial intelligence research firm, is the brains behind ChatGPT. Even if you've never heard of OpenAI, chances are you've come across some of their AI tools online. Together with ChatGPT, their text-to-image generator DALL.E 2 has also recently generated a lot of discussion across numerous platforms.

An improved version of OpenAI's advanced language processing AI model GPT-3, called ChatGPT, was used to create it. The largest and most complicated natural language system to date, GPT-3 is constructed with a staggering 175 billion parameters in place.

The most recent release of the language program from the OpenAI artificial intelligence research lab, GPT-4, was released last month. It is an advanced tool for image analysis and human speech imitation that pushes the technical and ethical limits of the rapidly spreading field of AI.

The cutting-edge GPT-4 system can generate not only words but also descriptions of images in response to straightforward written directions. A person can query GPT-4 what will happen if a boxing glove drops over a wooden seesaw with a ball on one side, for example, and GPT-4 will respond that the glove would hit the seesaw and send the ball flying up.

Nevertheless, due to abuse concerns, the business is delaying the deployment of its image-description capability, and the GPT-4 version that is available to subscribers of OpenAI's ChatGPT Plus service only supports text.

📜 History of ChatGPT

On November 30, 2022, San Francisco-based OpenAI, the company behind DALL. E 2 and Whisper AI released ChatGPT. With the intention of later making the service profitable, it was initially made available for free to the general public. The number of ChatGPT users had surpassed one million by December 4, 2022.

In late November 2022, San Francisco-based artificial intelligence company OpenAI quietly introduced ChatGPT to the world with little fanfare. According to Sandhini Agarwal, who works on policy at OpenAI, it was seen internally as a "research preview": a hint at a more polished version of a two-year-old technology and, more importantly, an effort to fix some of its problems by gathering user feedback. “We didn’t want to oversell it as a big fundamental advance,” says Liam Fedus, a scientist at OpenAI who worked on ChatGPT. Undoubtedly, nobody at OpenAI was ready for a massively popular viral sensation. Since then, the company has been battling to catch up and profit from its achievements 📈

Although OpenAI is still perplexed by the success of its research preview, it has seized the chance to advance this technology by observing how millions of users are utilizing it and attempting to address the worst issues as they arise.

OpenAI has already updated ChatGPT numerous times since November. To prevent users from tricking ChatGPT into acting negatively, researchers are utilizing a technique known as adversarial training (known as jailbreaking). In this work, many chatbots are pitted against one another. One chatbot plays the antagonist and assaults another chatbot by generating text in an effort to make it deviate from its normal behaviour and create undesired responses. The goal of adding successful attacks to ChatGPT's training data is to teach it to disregard them.

Additionally, OpenAI has a multibillion-dollar partnership with Microsoft and a global management consulting alliance with Bain. Bain intends to leverage OpenAI's generative AI models in marketing campaigns for its clients, which will include Coca-Cola. A new gold rush around huge language models has been sparked outside of OpenAI by the enthusiasm surrounding ChatGPT, with businesses and investors from all over the world getting involved.

💡 Alternatives to ChatGPT

The AI chatbot ChatGPT, which has gained popularity for its capacity to produce passable text for virtually any prompt, has already been put to a countless number of uses. The problem is that ChatGPT frequently runs out of room. Then, you can't start it up because of an arbitrary number of users. You are left with a message about reaching capacity and little else to do.

Although though ChatGPT is the most well-known AI chatbot at the moment, there are thankfully other choices available. If you can't access ChatGPT, one of the other chatbots we've gathered could step in.

➢ Bing, powered by AI from Microsoft

Given that you want authorization in order to utilize Microsoft's Bing feature, which is driven by AI, this one might be a little more difficult to really use. We have a primer on how you might be able to skip the waiting list, which is a blessing. Microsoft revealed a new, AI-enhanced version of Bing at the beginning of February. It is based on a cutting-edge OpenAI large language model that has been specially tailored for search. ZDNET was able to gain early access to Bing's chatbot, which is now in a restricted preview while Microsoft tests it with the general public.

Just be aware that if you do manage to gain access, the AI-powered Bing has a history of providing odd, unsettling responses. You may also test out Bing's AI-powered features without actually signing up. On Bing's home page, you can preview the feature, as Cecily Mauran of Mashable reported. To access a prompt about the upcoming new Bing, simply click "learn more."

➢ Bard from Google

Once more, getting to this one can be a challenge. There will probably be a waitlist. Bard is currently only accessible to a select group of testers, and so far, it doesn't seem to be doing all that well. Nevertheless, once the public has full access, it is one to watch out for.

Its primary characteristic is that it is a chatbot with artificial intelligence. It can provide conversational responses to a variety of requests. It uses data from the internet to deliver accurate, up-to-date, and user-friendly responses of the highest calibre. To offer the user these excellent yet realistic responses, Google Bard combines machine learning and Natural Language Processing (NLP).

In addition to offering it to businesses for automated help and other jobs that may be accomplished with human-like interaction, Google Bard plans to enhance it into Google's search capabilities. Bing already uses ChatGPT on their website, making it possible to search, browse, and communicate more effectively in one place. It can be included in websites, messaging services, desktop and mobile applications, in addition to Google's search engine. After their restricted beta services are over, everything will be accessible.

➢ Jasper, formerly known as Jarvis

Wherever you work online, Jasper is the generative AI platform for business that enables your team to 10X more quickly create content customised for your company. Although ChatGPT is a possibility, Jasper focuses mainly on commercial applications. Although it will be expensive, it promises to be an AI copywriter that will enhance blogs, ad copy, and social copy. Jasper makes it simple to generate content ideas and keep you constantly top-of-mind.

✔️ Create a ton of amusing Instagram captions, some of which might be punny.

✔️ Post amusing articles on LinkedIn.

✔️ Create engaging video scripts that will go viral on TikTok and YouTube.

✔️ Create immediately in the social media site by using the Jasper Chrome extension.

➢ YouChat

YouChat has a condensed version of what ChatGPT does, even though it's not quite as svelte as ChatGPT.

YouChat, like ChatGPT and Jasper, also makes use of OpenAI's GPT-3. Jasper works similarly to ChatGPT in that you can input a prompt for what you want written for you, and it will write it for you. The chatbot responds to your input, including questions about math, programming, translating, and writing. This chatbot's lack of popularity means that you can join at any moment and ask away, which is a significant positive.

Another significant advantage is that, unlike ChatGPT, which lacks internet connection, this chatbot cites sources from Google. For instance, if you ask YouChat, "What is soda?" it would respond with a text response that is conversational but also quote sources from Google that indicate where it got its knowledge. The chatbot is as useful, doesn't have bothersome capacity limits, and is free.

YouChat, in contrast to ChatGPT, also lists the references it used to compile its response. Although it is primarily a search tool, it nonetheless does a respectable job of reacting to commands like ChatGPT.

➢ ChatSonic

You must pay a monthly subscription fee to use ChatSonic, although it is a chatbot just like ChatGPT. In actuality, the product is positioned on the site as ChatGPT's upgrade.

If you require an AI chatbot that is updated with current events, ChatSonic is a solid option. ChatSonic can give you answers and stories related to current events because it receives help from Google, however ChatGPT cannot because its database only extends through 2021.

Other amazing capabilities of ChatSonic include voice dictation, which lets you give commands much like you would with Alexa, and AI image creation. You can test it out for free for 2,500 words with no strings attached if you want to.

🏆 How can Business Analysts benefit from ChatGPT?

Let's begin with a narrative. You attend a job interview for a business analyst position with a company looking for people with strong SQL querying abilities. You aren't really a data analyst, and you don't know a lot about complicated queries (or have not practiced them recently to be fairly comfortable writing them on the go). You are required to create SQL queries in order to answer a set of questions in the first round. You can recollect parts of the syntaxes, but you struggle to express the proper logic in writing. As you enter the requirements, you wish there was a tool that would automatically generate SQL code. That tool is ChatGPT and it will spare you the suffering!

Based on the data it has been trained on, it can respond to functional and technical queries and carry on discussions with you.

What does having a tool like this at our disposal entail for business analysts? 🤔

💎 It makes composing SQL queries, HTML code, Excel formulas, and sample JSON (if necessary) easier, albeit it makes sense to double-check it. It responds to questions concerning the vlookup function used in Microsoft Excel by providing information and an example.

💎 You can use it to find test cases for various software and scenarios.

💎 It might be useful for describing intricate business features or rules to be included in a document detailing business requirements or functional specifications.

💎 It can assist you in identifying patterns in an XML message or a comprehension piece.

Right now, it's up to us to discover what else it may have in store for us in terms of analysis and information-gathering. The potential seems limitless.

This tool can help business analysts, product experts, subject matter experts, and a ton of other people involved in software analysis understand and translate requirements for the target audience.

Consider chat Chatbot as an example of a helper who will complement your analysis activities. Say you already have a data set. To ask the question, "Can you analyse this data set in this screenshot?" all you have to do is copy and paste the data set into chat GPT.

Even if ChatGPT isn't as sophisticated, it can nevertheless simplify your job while moving the emphasis to activities that need critical thinking.

In conclusion, ChatGPT may be used to quickly scrape data, write code, or perform data analysis.

The fundamental methods for business analysis are still necessary to collect and comprehend stakeholder requirements.

A Business Analyst can use ChatGPT in a variety of ways to enhance their effectiveness in these activities. Some recommendations are:

➢ Requirements Elicitation and Analysis: ChatGPT can be used to automatically produce requirements documentation from stakeholder interviews or other sources of information, such as functional specifications and use cases. This might make the process of gathering and analysing requirements quicker and easier.

➢ Process and data modelling: Using verbal descriptions of processes and systems, ChatGPT may be used to automatically produce process flow diagrams and data models. Process and data modelling may benefit from the time and effort savings in this.

➢ Stakeholder communication and management: Based on data and information gathered from stakeholders, ChatGPT can be used to automatically generate reports, presentations, and other communication materials. This might make managing stakeholders and communicating with them easier and more efficient.

👉 In general, ChatGPT can be used as a tool to automate time-consuming and/or repetitive operations, freeing up Business Analysts to concentrate on more valuable strategic work. Also, you may use it to analyse job descriptions, customize your CV, make the most of your bullet points, compose your cover letter, aid with interview preparation, and more.

💡 You do not need to be replaced by ChatGPT. Instead, let it handle 80% of the foundational work so that you can focus 100% of your energy on the most crucial tasks, such as editing, customizing, and authenticating the data it provides.

Click here to start using ChatGPT now:

https://chat.openai.com/chat

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