With Bing + ChatGPT, How Does the Future Actually Looks?

Wow! ChatGPT got 100 million subscribers since Nov 2022 launch, Microsoft gained a 49% stake, Google was like we have LAMDA so we can relax, then suddenly it was code Red and Then Google was like dump the old idea, 'We’ll launch Bard'. A tweet went wrong, and Google Lost 100 billion market shares. Microsoft now Launches Open AI and Edge collaboration leaving everyone stunned obviously, the customers are super excited, but the news reporters are going nuts with so much content that they are asking ChatGPT to compile their thesis of “How To gain customers using unrealistic and baseless theories to make people insecure about their job yet forcing them to read all the articles that tell the same thing” !!!

While insecurities lie in the path, Students seem to have found a new compatible friend, professors find themselves in search of even intelligent software and exam authorities at law, and management is still recovering after being done and dusted by the new animal in town, ChatGPT. I am sure your newsfeed is filled with all kinds of theories.

When at a time when the world is going crazy with war, earthquakes, inflation, and layoff, everything seems to happen all at once as we find ourselves at the dawn of a new age of AI. As Ramana Maharshi said, “All that is happening that is meant to happen”, so why don’t we give ourselves a breather and analyze the Big Bull, ChatGPT, and how it is going to change/changed our lives?

Curiosity:

Well, the time has come when all your questions will be answered (with the current pace, soon the keyword questions will be replaced with prayers). If you don’t believe me, try this:?See the real magic when you give the new ChatGPT portal in hands of your parents?and watch them ask questions. So when you see the smile they have on their face when all their questions are answered without modern confusing jargon based on SEO and ad-filled on the search page that earlier made them reluctant to find what they need when they needed it, you’ll realize this technology did solve a huge problem. [ P.s. Do Try out ChatGPT with your parents :) ]

Earlier, the time it took for us to find satisfying answers was considerable, but today, ChatGPT has enabled us to be more curious, more interested in asking different questions, being on the left or right side of the arguments, and still getting relevant answers from it while being certain that the answers will be satisfactory and logical. Wow. Who would have thought this day will come?

Point being, no better time to be more curious and inquisitive of everything that is going around. Every new word that you find in a newspaper, magazine, or Instagram, is one ChatGPT away from you knowing about the subject and then forming your own opinion on it.

Curiosity is going to pay off big time.

Job Market:

Now, let's come to the topic which every news media has made money from.

“What’s gonna happen to the Job Market?”

Yes, the job market is hard right now, especially after the uncontrolled hiring spree during COVID, and the firing spree post that, the uncertainty is real. Needless to say, when something as disruptive as ChatGPT is here, we may find ourselves in a conundrum of unanswered questions and storming news. But if I have to give you a gist of this article in one line it will be this. With all the notion of “All Jobs will be gone” due to ChatGPT is wrong. I’ll tell you what it’s going to be,

“All Jobs will become even more competitive & to lag means, you be Left behind.”

What I mean is, all the questions are one ChatGPT away. Soon this will become something the majority of tagline people will adopt. This trust will slowly make people more likely to refer as soon as they have a question in mind. Now, this raises the bar.

So in the future, while hiring, companies will now be more critical to 1) hiring you if you don’t know enough about the subject i.e. more than the rest because now, with the growing curiosity of many people, companies know that you will use ChatGPT to find similar interview questions, so now, the companies have a tighter metrics, difficult questions to measure you and then negotiate your salary, 2) For the current employees, working in the company, the companies are more likely to use AI to help them do all the inefficient work that earlier required many people. They aim to reduce the workforce from inefficient tasks and put them to use to expand the business and gain more projects.

In order both to implement and maintain (both points), we still need people, but they are more likely to reduce the staff and keep only the high-performing ones in the team.

No one can take away the experience and expertise you bring to the table, but due to immense trust in an AI, experienced people with enough to showcase their credibility are more likely to be consulted and hired than the rest.

Startups & Entrepreneurial Future:

Let’s come to one of the important concepts. With the new startups that are rising, it is going to be a stormy ride, not just due to ChatGPT, but to due competitors lowering the price.

Let me explain:

With the rate, ChatGPT acquired 100 million customers within 2 months of launch, and with its integration with Edge on the “Chat” feature, ChatGPT, makes it easier for customers to find solutions for which small-medium startups were spending money on “marketing ads”, “target-marketing”, “SEO” etc.

Your business’s customer acquisition cost (CAC i.e., money spent to gain a customer) is likely to increase as your customers will be critical of your offering (since they will feel they have ChatGPTed everything) and keep referring or quoting ChatGPT while negotiating the prices. Now, your bigger competitor is likely to reduce prices seeing this shift, urging your customers towards them. In such a case, your current business offerings have to increase, and hence your team all of which comes with added costs. On the marketing front, you will be forced to do marketing on other platforms extensively to create visibility, thus again raising your costs to acquire customers.

Amongst all this, it will be impertinent for startups to ensure both customer and employee retention. Due to the highly competitive nature of how the business is going to operate this again will be a challenging task.

It is important to use time and evaluate the possibilities of expansion of business and creating high visibility amongst your consumers to ensure that you are able to beat the competition and not be on the other side of the spectrum.

Conclusion:

All being said, we do not have to fight with the AI, but find ways to leverage it to our advantage. Be it as an employee, startup founder, student, or big business, all of us need to find ways to become more valuable, because the coming time is going to be exciting if you are ready and really hard if you chose to lag.

Both Rewards and Punishment are going to be Massive. Make ChatGPT your friend and expand your spectrum of capabilities.

Thanks for reading. Feel free to comment if you have new thoughts or ideas that can help someone reading this :)

Disclaimer: “All ideas and opinions expressed herein are solely those of mine, and do not necessarily reflect the views of any organization I work for or affiliated with.”