Overview of ChatGPT and MidJourney
Just 10 years ago, no machine could reliably provide human-level language or image recognition. However, Information Age magazine has calculated that almost 80% of the world’s largest companies are automating their marketing processes. This sudden trend towards AI automation scares many marketing professionals, especially after the bright appearance of ChatGPT and MidJourney on the market.
Today, we will talk about what modern neural networks are, whether they are a threat to marketing employees, and how they can be used to their advantage!
Let’s start by defining what neural networks are.
They are programs consisting of a series of algorithms used to process large amounts of data and solve various tasks. Their name and structure are based on the principles of how the human brain works. The main difference between neural networks and ordinary programs is their ability to self-learn, which allows them to become more effective in solving tasks over time.
Currently, the most popular neural networks are ChatGPT and MidJourney.
ChatGPT is an AI-powered chatbot developed and launched by OpenAI on November 30, 2022. It can operate in dialogue and supports requests in natural language. It has caused a sensation in the IT community, impressing many with the accuracy of its answers to narrow questions.
The basis of ChatGPT is deep learning and the use of neural networks to predict text based on previous data. This allows the model to generate text that looks natural and is easy to read. In addition, ChatGPT uses a unique approach that allows it to understand context and generate meaningful texts.
By the way, the two paragraphs you just read were written with the help of ChatGPT.
ChatGPT is used in many fields, including marketing, journalism, literature, and even for creating artificial conversational partners. For example, product designer Ammar Rashi wrote a children’s book with the help of ChatGPT, created illustrations for it in MidJourney, and is now selling the book on Amazon.
On March 14th, OpenAI announced a new model — Chat GPT-4. If the previous version allowed users to communicate with the neural network only through text, the latest version provides the ability to interact through images, sounds, and videos.
In their presentation, developers explained that GPT-4 now understands natural language and performs tasks in all languages. The AI also explains graphs, solves photographed equations, performs other tasks based on images, and gets high scores on complex specialized exams.
MidJourney is a neural network developed by an American company that generates paintings based on textual requests. MidJourney’s work is enabled by two technological breakthroughs in AI: the ability of neural networks to understand human speech and create images.
Interaction with the neural network occurs through Discord, a cross-platform messenger popular among designers and gamers. According to the creator of Mid Journey, he chose access through Discord because of the group work principle of the gaming platform — people are more willing to fantasize when they gather in groups.
Each MidJourney user has a limited number of free requests — 25 GPU minutes or just over 40 images are available. To generate images, you need to enter “/imagine Prompt” and then provide thematic words in English. This or this tool will help you determine the requests.
We come to the main question: can neural networks replace employees in the marketing field?
It cannot be said with absolute certainty that AI will completely replace marketing department employees. After all, a neural network can process data and provide recommendations, but it cannot replace the human factor in decision-making.
The best option is to use neural networks as a tool for optimizing work processes and a platform for finding inspiration. Neural networks can take on some responsibilities, such as:
In mid-2022, the DSP BYYD team developed and integrated a neural network into their platform that allows for predictive analysis of the necessary bid for purchasing a specified volume of inventory within a specific time frame. The neural network selects the best bidding moment based on the study of 12 parameters of historical requests.
We developed 4 competitive implementation variants of the neural network model, built on the methodology of forecasting time series using unidirectional and bidirectional LSTM with a deep stack. After evaluating effectiveness, bidirectional LSTM was selected as the basis.
The initial analysis was carried out by studying 20 million data on incoming bid requests, bid responses, and won auctions. Currently, the neural network is being trained in real-time mode. This means that inventory purchase occurs at the lowest possible price by setting a personal bid for each auction. Essentially, we save the second price auction for ourselves — this allows us to buy traffic for our advertisers cheaper, even in identical SSP with competitors.
We have prepared a collection of neural networks that can be useful for e-commerce specialists and others!
In conclusion, neural networks are an important tool for marketing departments that can help improve the quality of work and increase the effectiveness of marketing campaigns. However, they cannot completely replace the human factor, so they should be used wisely and in conjunction with the work of experienced marketing department employees.
In addition, according to Stanford University, ChatGPT lacks the intentions and goals that are characteristic of human knowledge. Neural networks can learn, but they are unable to understand humans, which is essential for marketing to exist.
Digitalization destroys some professions but creates many new ones. Specialties are transforming, and to avoid falling behind progress, it is essential to study, “tame,” and promptly implement new technologies into your work.
The BYYD team follows these principles in developing and modernizing their products, which helps us perform our work with quality and efficiency.