ChatGPT has transformed AI from a technological novelty to an everyday application. There are over 100 million users and 1.5 billion site visitors per month. OpenAI (the firm behind ChatGPT) itself is now worth some $86 billion.
With its ability to efficiently process and generate human-like text, ChatGPT is revolutionising how businesses handle tasks, make decisions, and innovate.
Crucially, it’s very simple to get to grips with, and integrated features such as coding abilities and image generation using DALL-E 3 increase the benefits for businesses and their staff.
This blog explores ChatGPT one year on from when it hit the mainstream.
Overview of ChatGPT’s Introduction to Business
ChatGPT is a generative AI tool developed by OpenAI, a company founded in 2015 with involvement from top tech bosses like Elon Musk. It generates or outputs content, hence the ‘generative’.
ChatGPT has turbocharged businesses and individuals alike, primarily through its natural language processing, coding, data analysis, maths, and problem-solving.
The advantage of ChatGPT is that you simply input instructions in natural language – it requires very little technical know-how to use.
Here are some of the primary uses of ChatGPT in business:
- Enhancing customer interactions: ChatGPT can be integrated into chatbots, making them far more proficient at handling complex inputs. Businesses leverage this technology to provide immediate, accurate, and personalised communication. Whether through automated customer service chatbots or by aiding human agents in providing swift responses, ChatGPT has vastly improved the efficiency and quality of customer service.
- Automating routine tasks: ChatGPT is instrumental in automating routine and time-consuming tasks. This includes tasks like scheduling, email responses, and even generating reports. Handling these mundane tasks frees human employees to focus on more complex and creative aspects of their jobs, increasing overall productivity.
- Providing insightful data analysis: ChatGPT is a powerful tool for data analysis. It can process and interpret large volumes of data with little to no technical skills.
- Coding: ChatGPT can help people code, accelerating everything from software and app development to web development and more.
This next section investigates some key examples of how ChatGPT has already been successfully deployed in business scenarios.
Case studies: How businesses are harnessing ChatGPT
ChatGPT has proven to be a game-changer for small and big businesses alike. Here are some real examples of how businesses have deployed it in their products and services.
- Baker McKenzie: Baker McKenzie, a global law firm, has been utilising ChatGPT to assist in legal research and draft certain legal documents. The integration of ChatGPT helps in sifting through large volumes of legal data, providing summaries, and drafting initial versions of legal documents, which are then reviewed and finalised by human lawyers.
- Cello Cheese: Cello Cheese, a US food brand, used ChatGPT to create personalised cheeseboard recommendations. Customers are asked five quick questions, and based on their responses, the system creates a custom cheeseboard, considering factors like preferred flavours, textures, dietary preferences, accompaniments, and the occasion.
- Slack: Slack has integrated ChatGPT to assist in composing messages and summarising channel or discussion thread content.
- Shopify: The e-commerce platform Shopify has integrated ChatGPT into its smartphone app, Shop. This AI feature helps users select products by asking questions to narrow down product selection and then suggesting different products from Shopify’s stores.
- HubSpot: Known primarily for its CRM software, HubSpot announced a ChatGPT integration named ChatSpot. This tool allows users to extract and modify information within the system using natural language inputs.
- Quizlet: Quizlet, an educational technology company, is using ChatGPT to expand its services with a “personal learning coach” called Q-Chat.
ChatGPT: How could your small business be utilising AI?
So, how can small businesses integrate ChatGPT into their day-to-day operations? Here are some ideas:
Streamlining operations with ChatGPT
One of ChatGPT’s primary advantages is that it saves businesses time by streamlining operations.
1. Automating repetitive tasks: ChatGPT can automate routine tasks like managing customer inquiries, basic data entry, and scheduling, saving time and reducing human error. For instance, a small online retailer could employ ChatGPT for customer service inquiries, instantly addressing common questions about products, shipping, and returns.
2. Brainstorming and writing assistance: ChatGPT excels in generating ideas and creating written content, which is useful for drafting business proposals, reports, and marketing materials. A marketing team, for example, might use ChatGPT to develop initial ideas for advertising campaigns or to create engaging content for marketing channels.
3. Data analysis: ChatGPT can help analyse and summarise large datasets, aiding in market research or customer feedback evaluation. A business could deploy ChatGPT to sift through customer feedback from surveys or social media to identify trends and areas for improvement.
4. Coding and development support: For businesses with limited IT resources, ChatGPT can be a valuable asset for coding. It can help write code snippets and assist in debugging. A startup might use ChatGPT to troubleshoot coding issues or understand software development best practices.
5. Language translation: ChatGPT can be used to assist in language translation, making it easier for businesses to communicate with a global audience and navigate language barriers.
6. Training and Onboarding: ChatGPT can be employed for creating interactive training materials or assisting in onboarding processes. It can provide information, answer queries, and guide new employees through basic training modules.
7. Project management: Businesses can use ChatGPT to facilitate project management by generating project reports, task lists, and progress updates. It can also assist in organising and summarizing project-related information.
8. Legal document review: ChatGPT can help in the initial review of legal documents, contracts, and agreements. It can highlight potential issues or suggest improvements, saving time for legal professionals.
9. Content moderation: In online platforms and communities, ChatGPT can assist in content moderation by identifying and flagging potentially inappropriate content, helping businesses maintain a positive online environment.
10. Innovation and product development: ChatGPT can be a valuable tool in the innovation process, assisting in generating ideas for new products or features based on market trends and customer feedback.
