Business & Technology Snapshot by TUATARA – December 2022
Hi there! ?? Welcome to the first edition of our newsletter in 2023! We hope you have taken a good break during the holiday and welcomed the new year in a good mood. ??
It's time to recap the last month of 2022, which by many enthusiasts of AI will be remembered as a breakthrough time. You probably know what we are talking about – well, unless you have been off the grid for quite some time. Chat GPT has shaken the world, amassing over a million users in a week. In comparison, Instagram could celebrate that milestone after 2.5 months.
That's why most of this edition of our newsletter will be focused on Open AI's big innovation. But if you are tired of this topic already, don't worry, we also got some other news and articles worth sharing. Let's begin, then! ??
?? If you were unaware of Chat GPT hype, here's a recap of everything you need to know about it – who made the bot, how can you use it, and what are its limitations:???
"ChatGPT enables users to ask questions or tell a story, and the bot will respond with relevant, natural-sounding answers and topics. The interface is designed to simulate a human conversation, creating natural engagement with the bot.??
Based on GPT-3.5, a language model trained to produce text, ChatGPT is optimized for conversational dialogue using Reinforcement Learning with Human Feedback (RLHF). Responses from ChatGPT sound quite human-like because they were trained on vast amounts of data written by people."
?? With the release of Chat GPT to the general public, many started to become more and more worried about the impact that advanced AI can have on the job market. Is Chat GPT a mark that we are heading in a direction where some jobs become “humans not needed” ones???
"ChatGPT won't be heading out into the world to talk to Ukrainians about the Russian invasion. It won't be able to read the emotion on Kylian Mbappe's face when he wins the World Cup. It certainly isn't jumping on a ship to Antarctica to write about its experiences. It can't be surprised by a quote, completely out of character, that unwittingly reveals a secret about a CEO's business. Hell, it would have no hope of covering Musk's takeover of Twitter - it's no arbiter of truth, and it just can't read the room.??
It's interesting to see how positive the response to ChatGPT has been. It's absolutely worthy of praise, and the documented improvements OpenAI has made over its last product, GPT-3, are interesting in their own right. But the major reason it's really captured attention is because it's so readily accessible."
? Great insights about how ChatGPT looks in the context of digital transformation and AI as a whole, with some interesting bits of history thrown in there.???
"Firstly, it makes it clear to a wide audience that we have now moved beyond the Turing Test set by Alan Turing 70 years ago. Improvements in speech recognition and text-to-speech translation have been on-going for many years. What ChatGPT does is to provide wide access to a simple interface that demonstrates an ability to produce answers that are not only well constructed and believable, but also adopt a human tone. What The Guardian described as the best system 'for impersonating humans ever released to the public'.??
By submitting questions or describing scenarios, ChatGPT is a 'generative pretrained transformer' made to realise Alan Turing's 'imitation game'. It responds with a solution that is both plausible and well-formed by building on its vast knowledge base to create a new set of answers for the user. What seems to astound people is the breadth of its application and the authority of the responses provided. It can understand a wide variety of languages, human and computer programming, and respond with very realistic information.??
Secondly, ChatGPT turns attention away from rote solutions to narrow problem sets with a focus on efficiency and automation toward the promise of a future AI that drives creativity to broaden what is possible. Whether it's a question about business strategy or a request to generate software to implement a response to a defined need, ChatGPT can produce a solution that is new and meaningful. And this level of AI sophistication is now accessible to everyone."
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?? Open Finance is making huge strides – now it is believed that BaaS and Embedded Finance are an industry norm in finance, as a majority of institutions acknowledged that these advancements are expected by customers.??
"The survey, which was conducted among 758 respondents across multiple regions, also found that 85 per cent of professionals believe that Open Finance is already making the industry more collaborative and is having a positive impact on the industry.
The study suggests that Banking as a Service (BaaS) and Embedded Finance have become an industry norm, with 83 per cent of institutions agreeing that they are "already expected by customers". More than a third of institutions said they have improved or deployed BaaS in the past year."
It's not too late to hop on the Embedded Finance train: check out what we wrote about it in our article published on Fintin's blog.
Business needs change at different stages of the customer life cycle, and similarly, the problems you need to solve change. Therefore, the use of a specific technology is not the goal but only a way to create solutions that meet business needs.
TUATARA helps companies take care of customers interdisciplinarily, combining consulting and technology expertise to create enchanting experiences in the digital space. We focus on digital customer care at every stage, matching services, products and technology to their and your needs.
Ongoing analysis of satellite imagery can be a valuable tool for monitoring the environmental change. Moreover, they can help us avoid disasters and natural catastrophes – such as the ecological disaster in the Polish Oder River – or minimise their effects.
Satellite imagery can also be used, for example, to track the condition of forests by monitoring changes in tree cover, to identify illegal logging or land use practices that may damage ecosystems, and to monitor the flow of pollutants and other substances through the environment.?
Conversational chatbots are everywhere. Some are designed to replace or substitute customer service, and others can only answer basic questions. Some can do both, while others are there just to entertain.
But why do many chatbots fail to succeed? It’s quite simple – people like things that are helpful while also being enjoyable to look at. That’s why it is crucial to design an excellent chatbot interface. Read our article to learn how to make your chatbot’s UI design user-friendly and engaging.
That’s all for this month! Make sure to subscribe to the newsletter and?follow us?on LinkedIn for more news. ??