ChatGPT is the fastest-growing web app in history

Last November, OpenAI launched ChatGPT as a free web interface and took the internet by storm. Data compiled in a study by UBS reported the chatbot had managed to reach 100 million monthly active users by January, which would make it the fastest-growing consumer app in internet history.

The study cited data from Similarweb, an analytics firm monitoring web traffic, indicating that about 13 million unique users on average visited the site every day in January – double the number recorded in December. Other ragingly popular online apps TikTok and Instagram took nine months and 2.5 years respectively to attract the same number of monthly active users, and the number of netizens flocking to ChatGPT continues to grow.

"In 20 years following the internet space, we cannot recall a faster ramp in a consumer internet app," UBS analysts noted,ChatGPT is powered by GPT-3.5 and functions like a chatbot. Users instruct the model to carry out a specific task, and it responds in natural-seeming text. Unlike its predecessors, the model is better designed to carry out a dialogue, deny inappropriate requests, and admit to mistakes. Though it is far from perfect.

Many people are fascinated with ChatGPT's versatile abilities to generate text. The model can do all sorts of tricks – from answering questions, to coming up with knock-knock jokes, or writing essays or even code. But like all AI language models it has no real understanding of text and will produce content that is false, nonsensical, or even toxic.

The model's limitations haven't swayed businesses across different industries from deploying ChatGPT to support customer service or content marketing. Computer scientists are also experimenting with applying it to more high-risk domains likeMeanwhile, universities and schools have banned the students from accessing the tool on public networks or submitting assignments written by the model.

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