A Fireside Chat(GPT)
In my role, I have the good fortune of interacting with and interviewing many great investor relations professionals worldwide.
So when the OpenAI chatbot sensation known as ChatGPT exploded onto the scene at the start of this year, I thought it would be fun to put it to the test and see if it could hold up to the scrutiny of the good old-fashioned interview.
Below is the full conversation resulting from my first-ever interview with a robot, let us know your thoughts on some of the points discussed below.
Steve: How will ChatGPT impact the investor relations profession?
ChatGPT: As a language model AI, ChatGPT has the potential to significantly impact the investor relations profession. Some of the ways in which this may occur include:
It's important to note that while ChatGPT and other AI technologies can certainly enhance the work of IR professionals, they are not a substitute for human expertise and judgment. IR professionals will still play a crucial role in shaping the strategy and messaging of their organizations, and in building relationships with stakeholders. However, ChatGPT can certainly be a valuable tool in supporting and augmenting their efforts.
Steve: Can you be more specific, or provide examples?
ChatGPT: Sure, here are some specific examples of how ChatGPT could be applied in investor relations:
These are just a few examples of how ChatGPT could be applied in investor relations. The specific use cases will depend on the needs and goals of each individual organization.
Steve: Are there any case studies of investor relations teams currently using ChatGPT (or NLP more broadly) in their work?
ChatGPT: To the best of my knowledge, there are not many publicly available case studies specifically about the use of ChatGPT in investor relations. However, there are several examples of companies and organizations using natural language processing (NLP) and AI more broadly in their IR work.
For example, some companies have implemented NLP-powered virtual assistants to automate investor queries and provide real-time responses. Other companies have integrated NLP into their investor relations websites to provide investors with quick and easy access to information and to improve their overall user experience.
There are also companies that are using NLP to analyze and categorize investor sentiment, providing valuable insights into how investors feel about the company and its performance. This information can be used to inform strategic decisions and to improve communication with investors.
It's worth noting that while NLP and AI have the potential to significantly enhance the work of IR professionals, they are not a panacea. IR professionals will still play a crucial role in shaping the strategy and messaging of their organizations, and in building relationships with stakeholders. However, NLP and AI can be valuable tools in supporting and augmenting their efforts.
领英推荐
Steve: What are some of ChatGPT's limitations when applied to investor relations?
ChatGPT: Like any technology, ChatGPT has its limitations when applied to investor relations. Some of the key limitations include:
These limitations highlight the importance of human oversight and intervention when using ChatGPT in investor relations. IR professionals will still play a crucial role in shaping the strategy and messaging of their organizations, and in building relationships with stakeholders. However, ChatGPT can be a valuable tool in supporting and augmenting their efforts.
Steve: What skills will IR officers require if ChatGPT, NLP, or AI usage continues in investor relations or investing?
ChatGPT: As the use of ChatGPT, NLP, and AI continues to grow in investor relations and investing, IR professionals will need to develop a new set of skills to effectively leverage these technologies. Some of the key skills that will be important include:
These are just a few of the key skills that IR professionals will need as the use of NLP and AI continues to grow in investor relations and investing. It's important to note that these skills will be complementary to the traditional skills and expertise that IR professionals bring to the table, such as financial acumen, relationship building, and strategic thinking. The goal is not to replace IR professionals, but to enhance and augment their work with the power of NLP and AI.
Steve: Finally, can you provide a concise (one paragraph) answer about how investor relations professionals should think about the role of AI, NLP, and ChatGPT in their role?
ChatGPT: Investor relations professionals should view AI, NLP, and ChatGPT as tools that can support and enhance their work, rather than replace them. These technologies have the potential to improve efficiency, provide new insights and perspectives, and automate routine tasks. However, they should be used in conjunction with human expertise and oversight, as IR professionals bring a unique set of skills and expertise to the table, such as emotional intelligence, strategic thinking, and relationship building. IR professionals should be proactive in developing the skills necessary to effectively leverage these technologies, while also being aware of the ethical and privacy considerations associated with their use. By embracing AI, NLP, and ChatGPT in a responsible and strategic way, IR professionals can play a key role in driving value for their organizations and stakeholders.
What are your views on the role that this tool, and similar technologies will play in investor relations? Is this broadly a positive development for IR? Is this a gamechanger for the profession? Have you already started exploring the potential in your role?
Thoughts and opinions all welcomed in the comments section below.
For a more nuanced human discussion on this topic, do read Alexandra Cain's article: https://www.irmagazine.com/tech-social-media/what-does-ai-chatbot-chatgpt-mean-investor-relations
Or find an event near you where this topic will be discussed in person: https://www.irmagazine.com/events
co-Founder @Scalens
1 年Excellent Steven Wade!! My opinion is that IR teams should have access to a large dataset of proprietary information on their shareholders and investors. once they have it, they could connect tools like ChatGPT, and then it will become highly efficient!! so, the real question issuers should ask is "do I really own data on my investors base?". This is where my company, Scalens, can help. Happy to discuss it with you. Guillaume