Artificial intelligence has been around for decades, but it seemed a lot more innocuous when it was just playing checkers. ChatGPT, an AI language processing tool developed by OpenAI, can pass the bar exam. We’ve all seen and read enough science fiction material to feel a twinge of fear that robots may be coming for our jobs. But what’s more likely to happen over the coming decade is that AI will enhance our capabilities, making our work processes more efficient and giving us back that precious free time that is often the motivation for real estate professionals to build passive income streams.
Of course, there are valid reasons to be concerned about ethics, safety, and human independence and agency as a result of this new technology. But so far, ChatGPT is proving to be an invaluable resource for real estate professionals in multiple aspects of their business. Understand its limitations and how to use it effectively, and you could build more wealth in less time or kick back and relax a little longer than you would otherwise.
How Does Chat GPT Work?
ChatGPT uses deep learning to deliver real-time responses to questions and prompts in human-like language. It’s pre-programmed with an inconceivable amount of data and has multiple language functions. It’s one of the biggest language models that exist.
When you type a request or question to ChatGPT, the individual words are analyzed and fed to the transformer part of the neural network, which is designed to process information much like the human brain, before ChatGPT generates a response. The tool is capable of a wide variety of language tasks, including:
- Generating text
- Completing text
- Translating text
- Summarizing content
- Answering questions
- Conversing
When using ChatGPT, it’s crucial to be specific with your prompt or question. Tell it the length of the response you want and the tone you’re looking for if that’s important. If you don’t get the response you’re…