5 Firsthand Insights About Using ChatGPT In My Business

"Don't treat ChatGPT as a solution! It's a method.."

In Praktika.ai , we have been actively engaged in developing conversational AI solutions for over six years, and in our quest for excellence, we have explored a wide range of NLP models suitable for different business cases. Over the last several months, we have rigorously tested #ChatGPT in thousands of different ways and are ready to share our vision with the public.

In this article, I would like to share five firsthand insights, that might help you to treat ChatGPT as a useful business companion, as we do in Praktika. These insights are not based on articles or YouTube shows but rather on our extensive day-to-day experience of working with ChatGPT. My goal is to provide valuable and practical tips to my esteemed LinkedIn people.

Let’s go!

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1?? ChatGPT is a real breakthrough.

OpenAI 's GPT has been around for some time with several versions (1, 2, 3) and the competition in the conversational AI field is fierce. However, ChatGPT (GPT-3.5) stands out as a true breakthrough due to its advanced level of context consideration, output quality, and generation velocity. Essentially, ChatGPT is a large language model (LLM) like its predecessors but with a major distinction: it has been retrained on an extensive amount of human markup. This key difference has resulted in a model that is much more human-like, with a greater understanding and level of accuracy.

2?? ChatGPT is cost-effective.

“Through a series of system-wide optimizations, we’ve achieved 90% cost reduction for ChatGPT since December; we’re now passing through those savings to API users” - says an abstract from OpenAI's press release. This literally means, that the next-gen generative conversational AI has now become truly affordable for everyday business use and is comparable to other routine software prices. By integrating ChatGPT, businesses can increase their ROI while achieving significant cost reductions, as ChatGPT is now available at 10 times cheaper than previous GPT version - davinci. This development offers businesses the opportunity to leverage the power of AI without incurring prohibitive costs.

3?? ChatGPT has hallucinations.

As a model that has been trained on vast amounts of data, there may be instances where ChatGPT's text predictions are not entirely accurate. At the same time, the model is highly confident in its output, and it might be challenging for us to differentiate between lies and truth. It is advisable to exercise caution when using the raw model, as it may lead to being tricked.

Take some time to fine-tune and retrain the model to meet your specific business needs and you will be able to avoid such issues. We have experienced it by ourselves, yet the results are totally worth all the effort to find a work-around.

4?? ChatGPT questions the way we make software.

Impressing developers can be a daunting task, but ChatGPT has managed to do just that. From code review to co-piloting, this model challenges our approach to classic programming tasks. With ChatGPT, developers can ask the model to write a piece of code or even create zero-code blocks based solely on the chatbot output. This has also given rise to a new profession of the future - the "prompt engineer." This individual will design effective inquiries to maximize ChatGPT's output, which can then be seamlessly integrated as a component into any system.

5?? ChatGPT is not a solution, it’s a method.

While most of us may have experienced the ChatGPT interface in a web app, it is important to note that its true potential lies in using it as a platform and considering it as a component for existing solutions. ChatGPT can be integrated into virtually any business model and, if well-tuned and adjusted, has the potential to serve as a magic wand to cure lots of your business headaches. From supporting your customers to writing e-mails, from creating your personally styled content to role-playing sales pitches with your employees - the use cases of conversational AI are now limited not by technology, but only by our own imagination.

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A final remark:

I encourage you to fine-tune, retrain, integrate, brainstorm, collaborate, and create with this new piece of tech, that we are lucky to get in our hands! The text above is purely written by me, but, of course, checked and corrected by my new lovely working pal :)

At Praktika, ChatGPT has become a trusted partner in our daily personal and team operations. As a passionate advocate for AI, and as a gesture of gratitude to those who have taken the time to read this far, I would love to offer some of my time to brainstorm innovative ways to integrate this technology into your company's goals.