Can an LLM like ChatGPT-4 do a better job than a Business Analysts and or a Business Consultants?

I asked ChatGPT-4 what tasks and duties that business analysts and business consultants perform that could be competently, and even expertly covered by using a large language model like ChatGPT-4 and this the answer I got.

Large Language Models (LLMs) like ChatGPT can significantly enhance certain tasks traditionally performed by business analysts and business consultants by automating routine activities, providing quick access to vast amounts of information, and generating sophisticated outputs that can replicate expert-level performances in specific domains. Here’s a breakdown of tasks within the roles of business analysts and business consultants that ChatGPT can expertly assist with or even take over:

Tasks for Business Analysts

1. Requirement Gathering:
2. Data Analysis and Reporting:
3. Documentation:
4. Process Mapping:
5. Solution Assessment:
6. Technical Writing and Communication:

Tasks for Business Consultants

1. Strategic Analysis:
2. Market Research:
3. Problem-Solving and Recommendations:
4. Planning and Roadmapping:
5. Training and Development:

How ChatGPT Expertly Handles These Tasks

• Consistency and Speed: ChatGPT can process and analyze large amounts of information more quickly than a human, providing consistent outputs without fatigue.
• Access to Vast Information: It can pull in knowledge from a variety of sources to provide well-rounded, comprehensive responses.
• Error Reduction: Automated processes can reduce human errors, especially in data analysis and documentation.
• Scalability: Digital solutions can be scaled much more easily than human resources, handling multiple tasks simultaneously.

Limitations to Consider

While ChatGPT and similar LLMs offer remarkable capabilities, they are not without limitations:

• Contextual Understanding: They may lack deep contextual understanding that specific businesses require, especially in complex scenarios.
• Interpersonal Skills: Tasks requiring emotional intelligence, such as negotiating with stakeholders or managing team dynamics, are better handled by humans.
• Dynamic Adaptation: Adapting to new and evolving situations in real-time, a common requirement in business environments, can still pose challenges for LLMs.

In conclusion, integrating LLMs like ChatGPT in the roles of business analysts and business consultants can dramatically increase efficiency, improve the accuracy of data-driven tasks, and support decision-making processes. However, it is important to maintain a synergy where human oversight is used to guide and make final decisions, particularly in complex and nuanced business scenarios.

William Poutu

www.bizinsights.au