The information regarding the risks of ChatGPT separating hype from reality can be found here

Since Microsoft (MSFT) unveiled its new OpenAI's ChatGPT-powered Bing search engine and Edge browser less than a month ago, it appears that every tech company is now officially on the generative artificial intelligence hype train.

Snap is adding an (artificial intelligence) AI chatbot to its platform, Google (GOOG, GOOGL) is developing its ChatGPT-style Bard, and Meta (META) is establishing a brand-new generative AI team. Even Snapple, yes that Snapple, is introducing a generative A.I. version of its Snapple Facts, and Spotify (SPOT) is getting in on the action with a DJ that is powered by artificial intelligence.

However, there are risks of ChatGPT associated with the race to be a part of the generative AI party, including the introduction of products that are not yet ready for prime time and the potential for consumers to be dissatisfied with the most recent technological necessity.

Robert Seamans, associate professor of management and organizations at New York University's Stern School of Business, provided the following explanation: "Consumers might expect and anticipate that there's something dramatically new and different here."

Therefore, "you could imagine that either an underwhelming-ness effect or a fear effect leads to less demand for this product than either of these companies would want."

The risk of the hype is real as ChatGPT's reality is helpful and accepted by many. The most significant potential issue that could arise, should businesses jump into the generative AI space right away is the expansion of content that is wildly inaccurate or odd. Follow ChatGPT: It is trained with data from the internet, and while there is a lot of reliable information available online, there is also a lot of completely fake content.

Edward McFowland III, an assistant professor in the Harvard Business School's technology and operations management unit, provided the following explanation: "I think it's very possible that without the right restrictions, guidelines, and sort of boundaries in place, these things can evolve to be probably very problematic in many concerning ways."

"What we have to make sure we're doing again, those who are building them and those who use them in their products, is trying to put those guardrails up," says the person who is developing the devices.

We already know what happens when businesses try to make chatbots available to the public before they are ready. For instance, Meta's Galactica Artificial Intelligence bot was intended to assist in summarizing scientific papers but ended up supplying false information, forcing the company to withdraw it. And Microsoft's Tay chatbot, which was based on Twitter, was famously killed after it quickly started posting inflammatory comments that it had learned from users of Twitter.

If consumers are confronted with negative interactions or are simply underwhelmed by what they encounter, the avalanche of hype surrounding generative artificial intelligence (AI) may also lead them to reject the technology.

Even though artificial intelligence (AI) is the newest trend, it has more to offer. The AI that powers ChatGPT is not particularly novel. It's like an extremely advanced version of your smartphone's predictive text feature. You know, the one who always sends "duck" rather than, well, what you meant to type.

However, several macroeconomic obstacles, such as declining consumer demand for hardware like PCs and smartphones and falling ad sales, have contributed to the decline in tech stocks over the past year. Therefore, businesses are jumping on the generative AI train to offset that.

Rajesh Kandaswamy, the distinguished VP analyst at Gartner, provided the following explanation: "The tech sector is down, suffering, and looking for some answer." This is yet another way for them to try to make money, get noticed, and demonstrate their innovation.

According to Kandaswamy, it is instructive that, whereas during boom times, technology companies would emphasize that they were more interested in creating long-term products, they are now pushing each other out of the way to stake their claim on the generative artificial intelligence market.

It's not like these businesses haven't been working on the technology behind the scenes as well. "General pre-trained transforms," or GPT in ChatGPT, are made possible by Google's involvement in the development of artificial intelligence (AI).

Ari Lightman, a professor of digital media and marketing at Carnegie Mellon University's Heinz College, provided the following explanation: "They stopped investing in blockchain, they stopped investing in metaverse or whatever, and everybody is seeking A.I. deals." Simulated intelligence has been around everlastingly, out of nowhere, it's hot in light of ChatGPT."