In today’s ever-changing technology landscape, small, medium and large businesses face a number of challenges when it comes to growth and efficiency. However advancements in artificial intelligence (AI) have opened up new possibilities that are worth taking a look at. One such tool that holds immense potential is chatGPT. It has gotten all the buzz for the past 6 months. But please note that there are a number of other tools like Google Bard that have hit the market recently and others are coming soon. There have been remarkable advances in AI over the last few years fueled by more robust and faster compute power coupled with enormous amounts of data found on the internet setting the stage for a number of AI related solutions.
ChatGPT is a conversational AI Chatbot tool developed by OpenAI and released in 2022. It allows users to enter prompts to ask questions about almost any topic, write articles, draft emails, generate software code, explain code, and more by responding to the prompts, which are questions entered by users. There is a free version (GPT-3.5) and a paid version (GPT Plus or GPT-4.0). It is worth noting that while the free version is highly capable, it is trained on data up to Sep 2021; does not have any data after 2021. Early usage has seen it may become unavailable at times if there is high demand. The chatGPT plus version is meant to have a wider range of knowledge and better problem solving skills but it comes with a fee of approximately $20/month. It is also worth noting that the paid version limits the number of questions users can ask each day.
How does ChatGPT work
When users enter prompts, ChatGPT attempts to understand what is being requested and generate the best answer based upon the large amounts of data that it was trained on. Prompts are entered as if the user was having a text or email conversation with another person. One of the nice things about ChatGPT is that it remembers prior conversations enabling you to return to a conversation and pick up where you left off.
Common terminology and definition in artificial intelligence
Before getting into the benefits of using chatGPT, let’s review definitions of some commonly used terms in AI. Following is a few key terms that are often used when discussing AI technology.
What makes ChatGPT so unique and powerful is that it is a combination of all these technologies. That includes machine learning, deep learning, large language models, and generative AI.
ChatGPT benefits for business
A daily walk-through thru the eyes of how ChatGPT may be used in daily activities:
There are so many use cases for persons in different roles of all types of business to use ChatGPT on a daily basis. It will enable them to save time with routine tasks and work more efficiently. Below are a few key roles that are found in many businesses and will list a number of tasks with opportunities to be done more efficiently using ChatGPT.
Customer Service Representative
Digital Marketing / Sales
Tips for effectively using ChatGPT for your business
Tips in writing prompts to get better results in ChatGPT
Prompts are how inquiries are phrased. In other words, how you word questions when you interact with ChatGPT. Writing effective prompts for ChatGPT can significantly impact the quality of the responses you receive. In fact, there is part of the AI family of functions that called Prompt Engineering dedicated to wording prompts in manner to get the most effective results. Here are some tips to help you craft compelling prompts:
It may take some trial and error to fine-tune your prompts and achieve the desired results. Experimentation, monitoring, and iteration are key to optimizing the quality of responses from ChatGPT. To learn more about prompting, I would recommend the following free course https://learnprompting.org/docs/intro.
ChatGPT Pros and Cons
When incorporating chatGPT into your business operations, it is crucial to take into account the pros and cons to know how to devise strategies that address and minimize any limitations or challenges that may arise. Moreover, businesses should stay updated on the latest advancements in the field of AI and adopt best practices to optimize the benefits of AI while mitigating its drawbacks effectively.
ChatGPT presents a remarkable opportunity for small businesses to unleash their potential by leveraging the power of conversational AI. By enhancing customer experience, streamlining operations, expanding market reach, and customizing the model to their specific needs, small businesses can achieve growth, efficiency, and a competitive edge. Embracing ChatGPT as a valuable tool can pave the way for small businesses to thrive in the dynamic and evolving business landscape.
Remember, as you embark on your ChatGPT journey, it’s important to start small with a specific use case. Also, consider the ethical use of AI and maintain a human touch in customer interactions. ChatGPT should be seen as a complement to human efforts, enabling small businesses to deliver better experiences while maximizing their growth and efficiency potential.