If you knew nothing about the 80/20 principle and wanted a nice summary, this would be good enough to inform you quickly.

The 80/20 Principle, also known as the Pareto Principle, is a phenomenon that states that 80% of the outcomes are generally from 20% of the causes. This principle has been applied to many different areas and has been found to be true in most cases.

The 80/20 Principle is named after the Italian economist Vilfredo Pareto, who discovered that 80% of the land in Italy was owned by 20% of the population. He then realized that this same phenomenon held true in many other areas. For example, 80% of a company’s profits typically come from 20% of its customers.

The 80/20 Principle can be applied to business as well. For instance, most businesses find that 80% of their sales come from 20% of their products. This means that businesses should focus their efforts on the products that bring in the most revenue.

The 80/20 Principle can also be extended to personal goals. For example, if someone has a goal of becoming a high-level executive then they should focus their efforts on the 20% of activities that will bring them the most success. This could mean taking classes, networking, and working on projects that will help them stand out from the competition.

To sum up, the 80/20 Principle is an important concept that can help people and businesses maximize their efforts and achieve their goals. By focusing on the 20% of causes that yield 80% of the results, people can achieve their goals more efficiently and with less effort than if they spread their efforts across all causes.

The summary above was written by a computer using GPT-3 technology.

What is GPT-3 exactly?

Well let’s ask the artificial intelligence powered software and see what it says…

GPT-3 is a powerful, cutting-edge language processing technology developed by OpenAI, a leading AI research lab. It is the successor to GPT-2 and is at the forefront of natural language processing (NLP) technology. GPT-3 utilizes a system of machine learning algorithms, inspired by the human brain's interconnections, which makes it so powerful and efficient in understanding natural language.

GPT-3 is revolutionizing how people interact and communicate with computers. It enables machines to comprehend the nuances and meaning of natural language, allowing people to communicate with AI-enabled programs in a more natural, intuitive way.

GPT-3 is capable of performing a variety of tasks, from writing articles to creating code. It also has a wide range of applications, from translations to customer service bots.

GPT-3's capabilities are noteworthy for being open and flexible. OpenAI has created a platform for developers to develop their own models on top of GPT-3, allowing for great diversity of applications. GPT-3 has also been designed to be able to handle different languages and has been successfully tested with over 200 languages, allowing for great global potential.

GPT-3 is set to revolutionize the way people interact with technology and AI-enabled programs. With its flexible and open platform, GPT-3 will enable developers to create more sophisticated, powerful, and intuitive programs that can better understand and respond to natural language. This will open up a new world of possibilities for users and developers alike.

What if we want that translated to Spanish, French or German?

No problem. 👉 Click here to see the result.

Pretty cool, right?

What does GPT-3 “magic writing” look like in real time?

Well, it’s pretty amazing. I created a 3-minute video to show you what happened in two different tools when I typed in the question “What is the 80/20 Principle?”

Below is the video. Watch it and let me know what you think in the comments.

I was impressed at how quickly the articles were created. And the output was quite impressive as well.

Automation technology is a high-leverage tool, and this GPT-3 driven text output is good enough for many low-level text creating tasks.

Summarizing text is an obvious use case. Translation is quite reliable.

The quality is likely to keep improving at a rapid rate. That’s one thing I think we can count on.

Have you played around with ChatGPT or any of these GPT-3 driven tools? If so, what’s your take on the usefulness of it?