Education

ChatGPT Plugins: Everything You Need to Know & How to Use Them Effectively

, May 15, 2023

In his book, “Mindfulness Meditation for Corporate Leadership and Management,” Indian author Amit Ray wrote, “as more and more artificial intelligence is entering into the world, more and more emotional intelligence must enter into leadership.” 

This quote stands as a stark reminder of the fragile balance between the advancement of technology and the fundamental, human desire for progress that powers it. At CEX.IO, we understand the fragility of that balance, and the necessity of seizing opportunities facilitated by that very technology — especially in the ever-evolving world of crypto.

As thought leaders, it has been our founding mission to bring crypto closer to users, and demonstrate how to use technology (in this case, online AI tools) in crypto, safely and responsibly. To that end, we’re continuing our ChatGPT exploration series. This go around, we’re focusing on ChatGPT plugins and what they can potentially do for you. 

What are ChatGPT plugins?

If you’re only just starting to dip your toes into ChatGPT waters, check out our introductory guide into this online AI tool that’s taken over the world by storm. Otherwise, let’s delve straight into this installment’s topic.

ChatGPT plugins are software add-ons or extensions designed to enhance the capabilities and functionality of ChatGPT. They do this  by providing additional functionalities or features via integration, into various platforms or applications.

Generally, plugins augment ChatGPT’s abilities to generate paraphrased or rewritten text, provide suggestions, or enhance the performance of specific tasks. Examples include content summarization, language translation, content creation, and more. Therefore, their fundamental goal is to empower users to have more efficiency, customization, and flexibility in using ChatGPT for their specific needs.

However, these plugins are separate entities from the core ChatGPT model, and, as such, require integration and installation into specific applications or platforms. Consequently, each plugin may come with a unique set of functionalities, features, and settings, customizable according to each user’s requirements.

How do ChatGPT plugins work?

It is important to note that OpenAI has created a ChatGPT plugin queue for those looking to acquire alpha access. The company has decided to prioritize ChatGPT Plus members and developers before making the queue available to the general public.

Regardless, you’ll need to install the specific plugins that you want ChatGPT to use. Once you make your choices, the plugins will feed into ChatGPT’s capabilities in real time. So, the online AI tool will immediately use whichever plugin you installed whenever you ask the bot a question, or specify a prompt. 

Do I have to use plugins for ChatGPT?

The answer depends on your specific needs and goals. It is vital to note that Large Language Models (LLMs) such as ChatGPT have significant limits, even though they are useful in numerous tasks. 

For example, ChatGPT can only respond to and recognize data from its training set. As such, and since information changes so quickly, it may sometimes provide incorrect or outdated replies.

Recognizing this limitation, the purpose of developing ChatGPT plugins was to allow this online AI tool to expand its informational awareness. In other words, a plugin can enable the tool to access information that isn’t a part of its core training data, thus acting as its “eyes and ears.”

The plugins’ most significant benefit is in increasing the system’s overall usefulness, by allowing it to perform limited, but secure activities on the user’s behalf. Additionally, these plugins simultaneously empower users to assess the model’s accuracy more confidently. This, in turn, potentially lowers the hazards associated with overreliance in the still fledgling online AI tool.

Examples of popular ChatGPT plugins

Considering that plugins for this online AI tool, much like the tool itself, are still in its infancy, we’ll list some of the currently most used and popular plugins available today. Examples include:

This enables users to interact with more than 5,000 applications. Examples include Salesforce, HubSpot, Gmail, Trello, Google Sheets, and more.

Wolfram Language and Wolfram Alpha provide users with access to real-time data, curated knowledge, math, and computation.

This AI-powered language instructor helps users say anything and everything in numerous other languages. 

The Shop ChatGPT plugin facilitates finding millions of goods and services from some of the best and most famous brands in the world. 

If you’re tired of reading hundreds of online reviews of popular restaurants and bars, this plugin provides restaurant recommendations, complete with a booking link to boot. 

This ChatGPT plugin features an AI co-pilot designed to assist parents looking to sift through daily home responsibilities (and any other potential family-related activities).

When looking to compare prices from thousands of online stores to find the best value for money, Klarna is there to make this process effortless and automated.

You can think of the Kayak ChatGPT plugin as Booking.com on steroids. Find the best deals for car rentals, hotels, and flights, including budget-friendly recommendations for all of the sites you can visit while traveling.

Instacart partnered with ChatGPT to solve grocery shopping and meal planning issues once and for all. Use this plugin to get instant inspiration and effortless meal prep tips.

Need access to real-time, market-leading data sets for regulatory, political, and legal information and data? Enter the FiscalNote ChatGPT plugin.

This ChatGPT plugin recommends hotels and exciting local activities when traveling, not to mention looking up trip expenses. Essentially, it represents a one-stop shop for all your travel requirements. 

ChatGPT plugins for crypto

Crypto is a vast landscape that can sometimes be as confusing as it is exciting. As such, we have yet to see truly actionable, value-generating cohesion between ChatGPT and various blockchain/crypto projects.

Regardless, as thought leaders and adopters of all things crypto, it is our mission (and pleasure) to bring you the latest educational and accurate info from both worlds. 

Thus, we’d like to (cautiously) bring your attention to a ChatGPT plugin designed for Solana (SOL). In other words, Solana Labs has created an open-source reference implementation for a Chat GPT plugin. It enables users to interact with the Solana network directly from ChatGPT.

Users will be able to purchase NFTs, transfer tokens, and check wallet balances once the plugin is available. The beta version is already live for developers who want to test the plugin, and/or launch their own version by digging into the code. You can find more info on this here.

Undoubtedly, Solana has encouraged just a trickle of water from the ChatGPT crypto plugin floodgates. As the landscape evolves, we’ll be sure to bring you the latest and greatest. 

Final thoughts

There is no denying that ChatGPT is, indeed, fascinating. However, like every online tool still under development, its best applications involve playing to its strengths. There are countless opportunities to explore the creative functionality of this tool (and its previously mentioned plugins) in a way that doesn’t result in encountering incomplete or false information. 

Therefore, your goal should ideally be to only use AI and said plugins as a resource that helps sharpen or augment your skills, without letting it become the author of your content, or worse — unquestionably relying on it as a decision maker in your stead.

When exploring the applications of any AI to your crypto journey, be it ChatGPT or others, these tools can be reliable up to a certain point. Regardless, we always encourage our community to conduct thorough research in combination with a personal risk assessment. Note that, in doing so, neither should be outsourced to a single, unverifiable entity. 

It’s imperative that early AI enthusiasts and other curious participants continue using these resources in tandem with other services and tools. The decisions resulting from such an approach will carry with them the benefit of being corroborated before potentially being applied to your trades

Until next time, and may the markets trend in your favor! 

Note: Exchange Plus is currently not available in the U.S. Check the list of supported jurisdictions here.

Disclaimer: Information provided by CEX.IO is not intended to be, nor should it be construed as financial, tax or legal advice. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting with, holding, or trading digital assets is suitable for you in light of the risk involved and your financial condition. You should take into consideration your level of experience and seek independent advice if necessary regarding your specific circumstances. CEX.IO is not engaged in the offer, sale, or trading of securities. Please refer to the Terms of Use for more details.

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