Artificially Official: ChatGPT is Here to Stay But what is it, and how can your business benefit?
By now, you've probably heard of ChatGPT and the surrounding chatter. And like most individuals, you probably have questions and may even wonder how this new technology can help your business.
In this piece, we’ll cover the basics, answer some questions and get you up to speed on this new frontier in technology.
What Is ChatGPT?
ChatGPT is an artificial intelligence language model developed by OpenAI that’s built to understand typical prompts and generate responses that sound human. The GPT stands for "Generative Pre-trained Transformer," shorthand for an extensive interactive database that learns as it goes and refines itself along the way.
While ChatGPT has occupied the limelight since it burst onto the AI scene, it’s not the only vehicle out there offering similar solutions for individual and business use. Search Engine Journal outlines a variety of similar platforms in this piece 11 ChatGPT Alternatives You Can Try in 2023.
Applications for Business
Business can use ChatGPT and peer platforms in a variety of ways to improve customer experience, optimize operations, and increase efficiency. Among them:
Customer Service
They can be used to provide instant and personalized customer support. A business can integrate an AI chatbot into its website or messaging platform to answer frequently asked questions, provide troubleshooting guidance, and offer solutions to common problems.
Sales
They can help sales teams in lead generation, customer outreach, and product recommendations. A business can also use it to engage customers in personalized conversations, suggest relevant products or services, and help them make informed purchase decisions.
Marketing
Businesses can create and deliver personalized marketing messages using AI technology, targeting the right audience and optimizing campaigns. They can also analyze data from customer interactions to identify patterns, preferences, and trends and use that information to create more effective marketing strategies.
Human Resources
ChatGPT and others like it can assist businesses in automating routine and repetitive HR tasks such as scheduling interviews, answering frequently asked questions from employees and candidates, and managing employee benefits.
Operations
They can be used in supply chain and logistics to manage inventory, track shipments, and optimize delivery routes. It can also be used to automate routine processes, such as billing, invoicing, and payment processing.
With so many applications for business, it’s easy to see why a number of high-profile companies have begun to try ChatGPT and similar AI platforms. This list of early adaptors ranging from Snap to Salesforce featured in Forbes.com shares insights into their motivations.
Potential Risks
With any new technology, ChatGPT and others like it come with a set of risks that businesses should be aware of before implementing it into their operations. These include:
Information Security Risks
Because these platforms require access to large amounts of data to function effectively, they can become targets for hackers looking to access sensitive business information.
Bias
If the data used to train them is biased or skewed in any way, it may produce biased outputs. This could lead to negative business consequences, such as discrimination, incorrect answers, or recommendations.
Lack of Human Oversight
They may not always provide the most accurate or appropriate responses, particularly if they encounter an unfamiliar question or situation. Without human oversight and intervention, when necessary, these platforms could provide incorrect information or advice.
Legal and Ethical Risks
Businesses using ChatGPT and others must ensure that they comply with relevant laws and regulations, particularly data privacy and customer protection. There may also be ethical considerations around their use in customer service if they replace human employees.
Customer Trust
Customers may be hesitant to engage with a machine-powered customer service representative, particularly if they’re not aware that they’re engaging with one. As such, businesses must ensure that customers are aware of what they are engaging with and that their data is being used responsibly.
Internet Considerations
ChatGPT can function on any stable internet connection that allows for data transmission and communication with users. However, for optimal performance, a stable and fast internet connection is recommended, as this can affect the speed and accuracy of ChatGPT's responses.
A reliable internet connection can also help ensure no interruptions or delays during the conversation, which can lead to a better user experience.
Hargray's high-speed internet provides stable, reliable connection businesses can use to maximize ChatGPT capabilities.
Contact us to learn more about these services.