This document provides an overview of ChatGPT, an AI language model developed by OpenAI. It discusses how ChatGPT works using transformer-based language modeling to generate human-like text. Some potential applications are discussed, like virtual assistants, customer service, and content generation. Both advantages like versatility and disadvantages like bias are outlined. The document also briefly discusses how ChatGPT could be fine-tuned and concludes that it will likely be monetized in the future.