ChatGPT: Applications, Opportunities, and Threats

Abstract: Developed by OpenAI, ChatGPT (Conditional Generative Pre-trained Transformer) is an artificial intelligence technology that is fine-tuned using supervised machine learning and reinforcement learning techniques, allowing a computer to generate natural language conversation fully autonomously. ChatGPT is built on the transformer architecture and trained on millions of conversations from various sources. The system combines the power of pre-trained deep learning models with a programmability layer to provide a strong base for generating natural language conversations. In this study, after reviewing the existing literature, we examine the applications, opportunities, and threats of ChatGPT in 10 main domains, providing detailed examples for the business and industry as well as education. We also conducted an experimental study, checking the effectiveness and comparing the performances of GPT-3.5 and GPT-4, and found that the latter performs significantly better. Despite its exceptional ability to generate natural-sounding responses, the authors believe that ChatGPT does not possess the same level of understanding, empathy, and creativity as a human and cannot fully replace them in most situations.