I am looking at this as a helpful tool in getting ideas or creating lyrics though the big downside is as far as I am aware, any content created is the the property of Open AI, so if you have a hit, maybe get ready for a lawsuit.
Per ChatGPT itself, this is not the case:
If you write lyrics, does OpenAI own the copyright?No, as an AI language model, OpenAI does not own the copyright to the lyrics you write using its platform. The copyright of any creative work, including lyrics, generally belongs to the creator of the work. In this case, the copyright would belong to you as the writer of the lyrics.
However, it's worth noting that OpenAI's API terms of service state that you grant them a license to use any content you generate using their platform for research and development purposes. This means that OpenAI may use the content you create to improve its AI models and services, but it does not mean that they own the copyright to your content.