This research paper consists of a detailed
analysis of conversational AI, more specifically on the
recent ChatGPT by focusing on its impacts, capabilities,
applications, strengths/limitations, as well as future
prospects. This study explores the underlying technology
of ChatGPT, built upon the GPT framework, and
discusses the training and fine-tuning processes involved
in its development. This paper not only investigates the
diverse applications of ChatGPT, but also analyses the
limitations regarding accuracy, bias, and data privacy.
This paper also aims to highlight differences between
ChatGPT and other AI bots by integrating many factors
including government regulations, impact on jobs, as
well as ethical considerations. Moreover, this research
paper also provides insights into ongoing research and
future directions in language model development with
ChatGPT as well as beyond it. This study not only aims
to deepen our understanding ofChatGPT but also
conversational AI as a whole and its implications for
researchers, practitioners, and society as a whole.
Keywords : Impacts, Capabilities, Applications, Strengths, Limitations, Ethical Considerations, Future Prospects, GPT Framework, Training, Accuracy, Bias, Data Privacy, Public Perception, Government Regulations, Conversational AI.