Discover How ChatGPT 'Sees, Hears, and Speaks'!

Table of Contents

1. Introduction
2. Open AI's Announcement
3. Features of Chat GPT
4. Concerns Regarding the New Features
5. Saving Audio Clips in Voice Conversations
6. Training Models on Audio Clips
7. Potential Use for Finance
8. Automating Earnings Report Summaries
9. Benefits of Automation in Trading
10. Conclusion

Introduction

Open AI recently announced the upcoming release of an enhanced version of Chat GPT. This revamped version will include several new features that aim to improve user experience and expand the capabilities of the artificial intelligence system. In this article, we will explore the details of Open AI's announcement, discuss the new features, address concerns raised by users, and Delve into the potential applications of these advancements, particularly in the field of finance.

Open AI's Announcement

Open AI plans to Roll out the upgraded version of Chat GPT in the next two weeks. The enhanced model introduces functionalities that enable the system to see, hear, and speak. While these features will be available on various platforms, such as desktop and mobile apps, there are slight differences in their accessibility. Users will be able to submit an image and receive a response related to the image by asking questions. For example, if a user uploads a picture of a cloud and asks Chat GPT about its Type, the system will analyze the image and provide an accurate response, such as "cumulus cloud."

Features of Chat GPT

With the new features of Chat GPT, users can engage in voice conversations using the IOS and Android apps. By simply pressing a button, users can initiate a conversation with Chat GPT, and the system will understand their spoken words and respond audibly. This functionality opens up possibilities for more interactive and natural interactions with the AI system.

Concerns Regarding the New Features

Although the introduction of these new features brings excitement, it also raises concerns among users. Open AI has addressed some of these concerns in the Frequently Asked Questions (FAQ) section of their announcement. While the initial questions cover simple topics, the subsequent questions delve into more nuanced issues regarding privacy and data usage.

Saving Audio Clips in Voice Conversations

One major concern pertains to the storage and use of audio clips from voice conversations. Open AI has clarified that during the beta period, audio clips are not saved. However, the system does utilize audio clips to generate transcriptions through their Whisper API. It remains uncertain how Open AI will handle audio clips once the system moves out of beta. Users are advised to monitor any changes in the platform's policies regarding the use of their data.

Training Models on Audio Clips

Another concern relates to the training of AI models using audio clips from voice conversations. Open AI explicitly states that they do not use audio clips to train their models during the beta phase. However, it remains unclear whether Open AI plans to incorporate these clips into their training data once the system is out of beta. The company Hints at the possibility of allowing users to share audio data to improve their models in the future.

Potential Use for Finance

The introduction of Chat GPT's new features opens up intriguing possibilities in the realm of finance. Retail investors and traders may benefit from leveraging the enhanced capabilities of the AI system to automate processes and gain valuable insights from financial reports and data.

Automating Earnings Report Summaries

One potential application could involve automating the summary of lengthy documents like earnings reports. By using Chat GPT, retail investors and traders could send an image or PDF of an earnings report to the system. The AI model could then extract and summarize the pertinent information Based on predefined parameters set by the user. This automated process could save time and effort, allowing users to quickly obtain key numbers and insights for decision-making.

Benefits of Automation in Trading

Automating tasks such as extracting Relevant information from financial reports can significantly streamline trading operations. By leveraging the enhanced capabilities of Chat GPT, traders can free up their time to focus on analyzing the summarized data and executing trades based on predetermined strategies. This automation can bridge the gap between retail investors and institutional investors, helping retail traders make more informed decisions.

Conclusion

Open AI's announcement regarding the upgraded version of Chat GPT introduces exciting new features that expand the system's capabilities. While there are valid concerns about privacy and data usage, Open AI has clarified their approach during the beta phase. The enhanced functionalities of Chat GPT, particularly its ability to see, hear, and speak, present potential applications in various fields, including finance. By automating processes and leveraging AI capabilities, users can save time and gain valuable insights, empowering them to make more informed decisions. However, users should remain vigilant about any policy changes and data usage as the system moves out of beta. With appropriate precautions in place, Chat GPT's enhanced features have the potential to revolutionize the way users Interact with artificial intelligence systems.