ChatGPT: How Much Does It Cost to Build a Chatbot Like Chat GPT?

ChatGPT which is developed by OpenAI is a question-answering and chat platform which is backed by Artificial Intelligence.

ChatGPT was released in November 2022 and since then it has become widely popular.

The reason is that you can use it easily and answer all sorts of questions. In the process, productivity can be increased.

The price of developing a chatbot like chat GPt could range anywhere from $20,000 to $150,000. Cost is determined by changes and features add-in the development of each circumstance.

Most software development companies charge somewhere between $15,000 and $50,000 in fees for customized AI bots. There are some companies that have a low price of $15,000- 30,000 for a straightforward bot.

The price of an experienced AI chatbot designed for after-sale support often ranges from an additional $20,000 to $150,000 over that of a standard AI bot like ChatGPT. These AI bots are the product of technologies known as natural language processing and machine learning, and they offer significantly more helpful skills for assimilating and learning information.

Further, it makes use of an open-source model with the assistance of a 3.5 AI engine. The model has been completely trained with human dialogue data.

In this blog, we would talk about ChatGPT and perhaps the cost associated to build an application similar to it. Further, for building an application like ChatGPT, it is important that you take assistance from an app development company. So, without wasting any more time, let us start with the topic:

ChatGPT – What it is?

ChatGPT is perhaps a chatbot that makes use of a language model. OpenAI has developed it using GPT 3.5. It can provide you with a human-like response in a very conversational manner.

Basically, the task that is performed by language models is predicting the next word.

Also, ChatGPT is also trained in RLHF which makes use of the feedback that is given by humans. In this way, they can easily follow a certain path and generate spontaneous responses that humans find satisfactory.

ChatGPT – Who developed it?

OpenAI which is a research company based on artificial intelligence has developed OpenAI. The company came up in existence in the year 2015 and they make use of artificial intelligence in a way that humans can use them.

Thus, ChatGPT can easily perform all kinds of natural language tasks.

ChatGPT – Who can use it?

ChatGPT is an open-source framework that is free to use. Anyone has potentially used it and it is perfect for people who have an existing chatbot or are looking to build one. Besides this, your own custom solution or tool can be created.

For using ChatGPT, a new account needs to be created. It is initially free for review. You just have to pay for the tokens once you get the answers from the AI model. Other than this, own private instances need to be created.

Thus, the practical applications that you can use from it are perhaps endless. Thus, it is beneficial for anyone who perhaps uses it.

How is ChatGPT Trained?

ChatGPT is trained using a lot of data from the internet which include sources such as Reddit discussions. Due to this, it can respond like a human and learn dialogue.

Besides this, it has also been trained using human feedback. Thus, it can easily understand what a human is asking in a question and in return provide them with truthful and helpful answers.

Thus, it has the ability to challenge certain sets of questions and avoid the questions that don’t really make use.

ChatGPT – How to use it?

ChatGPT is capable of writing poems, code, songs, and stories in a particular author style. Hence, it can be used to accomplish certain tasks. Likewise, it can be used to write essays on perhaps any given topic.

Besides this, it can also be used to generate the outlines for articles and novels as well.

Lastly, it can provide you with responses for any given topic.

ChatGPT – What are the advantages?

Increase in productivity

Productivity is perhaps the most important thing that organizations lookout in their employees. So, with ChatGPT, efficiency can be improved and hence they can provide faster and better service to their customers.

For instance, businesses can provide quick responses to their customers for their employees via ChatGPT without taking any assistance from their employees.

Customer service is improved

If you provide your customers with timely responses, then they can be acquired for a long time. Besides this, using ChatGPT, you can provide them with an individualized experience. You won’t be able to do the same using the earlier methods that were used for customer assistance.

Thus, it can very well help your organization in a long run. The best part is that your customers would stay loyal to you.

Expenses Would be Reduced

If customer care and support is provided through ChatGPT, then you can easily get it done at a very cost effective price.

Moreover, you have to hire very less customer care professionals to handle the queries of your clients. Hence, overhead cost of your organization would stay very low.

Accuracy is improved

With the fine tuning of the model and a lot of gathering of data, you can be assured that the result produced by ChatGPT would be very accurate.

Hence, companies can take advantages of the same and in turn have customers that are happy and satisfied.

Engagement is increased

With ChatGPT, client engagement can be executed in a very better manner. Hence, customers can get interactive and interesting response through which customer loyalty would be increased.

Scalability

ChatGPT is scalable in nature and hence it is perfect for business applications. Besides this, organizations would be able to run their operations at a significantly lower cost.

Response time is quick

The time that you take to respond to your customers can virtually make or break your business.

You should understand that customers don’t have a lot of time for getting your response.

But, with ChatGPT, you can be assured that you can provide your customers with quick response. Hence, real time conversations can be done swiftly and hence you would be able to stay ahead of your competitors.

Discussion is automated

In the earlier time, customer care executives used to solve the problems of the customers through call or chat.

But the entire process used to consume a lot of time. So, with ChatGPT, you can easily automate the discussion.

Moreover, it has the ability to engage in the conversation on its own and thus the manual interaction time is reduced significantly.

Various language support

ChatGPT offers multiple language support and hence you can get engaged in conversation from customers all across the globe. The ultimate thing is that it can provide the users with meaningful response.

Hence, it is perfect for organizations that have customers from all across the globe. This will help you to stay in front of all the competition that you might be having.

It also has the ability to translate the conversations in various languages. Hence, customers get the option to interact with your organization in the language of their choice. Hence, you can come up with unique and tailored interactions.

Speed is increased

ChatGPT is evolving at a very fast rate. Thus, with robust algorithms and hardware, a lot more text can be generated quickly.

Hence, businesses would be able to make use of chatbots for a wide range of channels such as apps, websites, and social media pages to name a few. Thus, they would be able to provide better service and perhaps reach out to a wide audience.

Likewise, with advancements, dialogue tracking features would be added. Hence, the interactions will become a lot more enjoyable and natural for the users.

Capability is improved

With ChatGPT, accuracy is improved and hence AI would be able to generate the results in human language. Thus, developers can make use of AI such that complex and richer conversations can be generated.

ChatGPT – What are the disadvantages?

Wrong answers can be provided

There can be times when ChatGPT won’t be able to generate the answers that are accurate. Thus, the ability to use it can be restricted.

Also, it can sometimes face difficulty in adjusting and interpreting to queries that are unique. Hence, it can provide the users with irrelevant and incorrect text.

Hence, there can be instances where AI won’t be able be able to provide you with findings that are accurate.

It is very formal

The response given by ChatGPT is very formal and hence the natural tone is missing.

On the other hand, humans can respond in a much informal manner which is generally used in daily slag.

Also, the answers produced by ChatGPT lacks analogies, sarcasm etc. So, it can’t be used in subjects that need informal tone.

It is not trained completely

ChatGPT in the current time is still going through development and training. So, as per the suggestion given by OpenAI, all the answers given by ChatGPT need to be cross checked before making it use in the real life.

ChatGPT is not detailed

There have been instances when people are looking out for detailed answers but ChatGPT hasn’t been able to provide.

How much does it Cost to Make a ChatGPT like Application?

There are a number of factors which determines the cost of making an application like ChatGPT.

But, the first thing that you need to do is hire an app development company who is competent of performing such a task.

Some of the factors that can add up the cost are dataset needed; use case model, computational requirements etc.

Thus, roughly to make an app like ChatGPT, it would cost you about $ 25000- $150000. Also, for getting the app developed, it can take several months based on the factors that need to be put into use.

How to minimize the cost of making a ChatGPT like application?

Opting for right development company

If you opt for a app development company, then you would be able to come up with a very reliable product.

Another advantage is that a lot of your cost would be saved by avoiding the rework, mistake and budget overruns.

A reputed company would also be able to use the right set of technologies and significantly cut down on the cost.

Launch MVP version of the app

In MVP version, the most important features of the product are launched in the market and feedback for the same is taken. All of these are done based on customer requirement.

So, a lot of development cost is saved as only important features that are needed for the customer are added.

Selecting a good cloud based solution

Every business these days understand that moving to cloud is cost optimization strategy. The same case holds in building a ChatGPT like application.

Also, a lot of data would be needed to operate and train such an app. Hence, if you choose a good cloud based solution, then there would be a lot of reduction in the cost.

How to develop an app like ChatGPT?

Ensure the requirements of your business

The first thing that you need to do is ensure the requirement for making a similar app like ChatGPT. These include Chatbot goals, features, target audience and budget.

Market Research

After this, market research needs to be done to understand about your competition. In this way, you would be able to come up with something that can help to stand out and at the same time meet with the requirement of your customers.

Selecting right development company

The next thing that you need to do is select a company that can perform the work for you. Take a look into their portfolio to understand if they are experienced enough to get the job done.

Come up with an MVP

In the next step, it is important that you come up with MVP of the product having all the necessary features. So, in this way, you can get feedback from users at an early stage and make the changes accordingly.

Testing

Once the development of chatbot MVP has been done and then make sure that it is tested properly and fine-tune it accordingly.

Launching

Once the testing has been done, it is time that you launch the product in the market. However, it is important that you monitor its performance and make necessary changes from time to time.

Conclusion

ChatGPT has become quite popular in a very short span of time. Since the span of 5 days of its launch, about one million people have registered to use it. It has a number of benefits associated with it and it is believed that it can help people in the long run. So, if you are looking to make an app like ChatGPT, then hire a software development company.