A serverless ChatGPT-like SMS chatbot can be built using the OpenAI API, Twilio Programmable Messaging, the Twilio Serverless Toolkit, and Node.js. To get started, sign up for a free Twilio Account, create a Twilio Phone Number with SMS capabilities, make an OpenAI account, and install Node.js. The chatbot uses the GPT-3 model, which is a natural language processing (NLP) model trained on human-generated text that can generate human-like text based on input. A Twilio Function is created to handle incoming messages, and it uses the OpenAI API to generate responses. The function is then deployed to Twilio using the Serverless Toolkit, and users can test the chatbot by texting a question or prompt to the Twilio number.