ChatGPT has taken the internet by storm. Everyone is talking about it and how it revolutionizes content creation. There are people who use the tool for SEO, software development, and research purposes.
The word is that it has the potential to replace the mighty Google. But that’s a discussion for another day. Since ChatGPT has taken center stage in most discussions in the online world, many have the same questions—how much does it cost to build a chatbot like ChatGPT?
As a custom software development company in York, we receive many queries about the cost of developing apps like ChatGPT. Here is all you need to know about chatbot software development costs.
Well, let’s find out about that in this blog.
How is ChatGPT different from others?
Unlike other chatbots trained to meet businesses’ specific requirements, OpenAI’s tool has been trained in human-like conversations. Most other chatbots are programmed to deliver certain responses to most questions raised by their users.
However, ChatGPT is based on the Generative Pre-trained Transformer 3 or GPT 3 technology, which enables the bot to interact with humans. The training is what makes the tool capable of having human-like conversations, remembering chat threads, and formulating human-like responses.
Further, other chatbots that most businesses use on their website for customer service are vastly different as they are not based on the Generative Pre-trained Transformer technology.
How do ChatGPT and other language models work?
All language models are programs developed to analyze large amounts of text from books, websites, and articles to learn how human language works.
It identifies patterns in human language and follows the same to answer the question. This is called ‘deep learning,’ which allows programs to identify patterns and structures in a data set and make predictions based on the same.
The more data the program has to train, the better its responses become.
What are the use cases of bots like ChatGPT?
The use cases of chatbots vary according to the person using them. However, the major use cases of chatbots like ChatGPT are:
Content creation
Content creation has been one of the major areas where language models have excelled, as they can quickly create unique, original content. The beauty of it is that the content developed can be molded precisely to fit the requirements of the audiences.
Application development
Coding is another area where ChatGPT has been widely used. It can provide excellent programming scripts that can be used to develop a variety of applications and web pages.
Customer care
Another area where chatbots can make a huge difference is customer service. Although there are businesses using chatbots to help customers resolve their queries, language models like ChatGPT can make it even more efficient and personalized. This can certainly result in better customer satisfaction.
Language simplification and translation
ChatGPT can also be used to simplify language and translate large chunks of text data from other languages. This makes it easier for users to arrive at better analyses of text without having to spend a lot of time analyzing and manually translating it.
Text summarization
Another area where bots like ChatGPT can be used is to summarize text to arrive at conclusions and inferences. This is extremely useful for people doing research and studies.
Limitations of ChatGPT
Although language models like ChatGPT can be used for multiple purposes, they also have certain limitations, as well.
These limitations are:
1. Database limitation
This means that the application’s performance is contingent upon the database upon which it is trained. ChatGPT cannot go beyond the database to formulate content or responses.
2. It makes factual errors
All language models are observed to make factual errors as they only interpret the information it is given. They do not know to check if the information is right or wrong.
3. It is trained only till 2021
As of now, the biggest limitation of ChatGPT is that it is trained on data that was available up until 2021. It does not have any information about events after the training period.
What is the cost of running ChatGPT for a day?
It has been reported that it costs $0.0003 to produce a single word by ChatGPT. OpenAI now spends $100K daily to operate the application successfully.
That’s a huge amount of money for any business. However, it must be kept in mind that ChatGPT is spending a lot of money on operations so that it can cater to users across the world.
For a business like you with limited operational scope, the cost can be brought down substantially if the app’s scope is limited to your users with the help of your software development company in the US.
What is the cost of developing a chatbot like ChatGPT?
While developing a chatbot like ChatGPT, you need to consider a range of costs apart, such as:
Data cost
You need data to train any language model. Your software development company may not be able to provide you with the data. Hence, you may need to purchase the same and it can cost you a lot of money.
Computation cost
This is another significant part of your cost to develop an app like ChatGPT. It requires a lot of computation power to do all the things that ChatGPT does. Hence, computation cost needs to be taken into consideration when developing a similar app.
Platform cost
The platform where the chatbot is hosted will also incur costs. Since the platform is an integral aspect to make the application perform well, you cannot compromise on the same, at all.
Development cost
Another huge cost of developing an app like ChatGPT is the investment needed to hire and constitute necessary technical talent. Not only must your business build a team but you must also keep them running as you may be required to constantly make changes, develop updates, and add features to the app to make it better.
Maintenance cost
Maintenance is another overhead that you must consider when developing a chatbot like ChatGPT. Once the software has been developed and released, timely maintenance has to be carried out.
Conclusion
As you can see here, the advantages of ChatGPT and other similar apps are immense if your business can leverage its potential for business growth. However, you need to be careful when you look for a reliable and experienced software development services company to help you with the same.
You must work with a software development company that has the technical knowledge, experience, and infrastructure to meet all your expectations. Or the entire software development project can be a hard nut to crack.
If you are looking for software companies in York to help you out, we can help you out. Eco York has been working with leading international and domestic businesses to create a wide range of apps and solutions to help them grow their business. Our software development team can help you if you need to develop a robust and high-performing chatbot like ChatGPT.
Contact our team to learn how.
