DocsGPT is an open source document assistant that supports various document types including TXT, PDF, ZIP, MD, and RST. DocsGPT offers multiple modes for users to choose from, including the default GPT-3.5 mode and the GPT-4 mode that requires a Pro purchase. DocsGPT can understand natural language questions and provide detailed, accurate answers from documents. The tool supports both local and cloud deployment, adapting to different needs. The open-source nature of DocsGPT provides developers with flexible model selection and options.