How Can Your Business Use ChatGPT (Artificial Intelligence) Responsibly?
Source: powersolution.com

How Can Your Business Use ChatGPT (Artificial Intelligence) Responsibly?


?First, what is ChatGPT?

ChatGPT is an artificial intelligence platform that has become incredibly popular since its release in November 2022.?Its basic subscription is available without charge, while more advanced subscriptions are fee-based.?

Artificial Intelligence (AI) is a technology that enables machines to mimic human intelligence – including thinking and learning. ?Artificial intelligence capabilities include analyzing information, identifying patterns, making predictions, and taking actions.

ChatGPT is a chatbot, which is a computer program that simulates how a human would behave in a conversation.?It provides the ability for people to get instant answers to virtually any question they might have, with some restrictions based on the time frame and certain other criteria.??

ChatGPT has been trained on a wide range of Internet text to understand and generate coherent ?responses. It can answer questions, provide explanations, give suggestions, and participate in an interactive dialogue.

A way to think about ChatGPT is that it rapidly simulates numerous Internet searches, synthesizes the collected information, then provides comprehensible and logical written responses.?It can go beyond just answering questions – to include performing tasks such as writing essays, computer code, Excel formulas, and summarizing content.

There are many pros and cons associated with the possible uses of ChatGPT and other artificial intelligence technologies.??A simple example is that it would be unethical, possibly illegal, and likely harmful in various?ways for a student or employee to plagiarize a ChatGPT-produced essay.

How Your Employees Might Use ChatGPT

Keep in mind that your employees and/or colleagues may already be using ChatGPT – so it is important to have at least some familiarity with the technology.

ChatGPT offers many ways to help out with business-related research.??This includes things like:

·????????Generating ideas for projects

·????????Creating a list of sources associated with a research project

·????????Getting summaries of certain books or articles

·????????Creating an outline for an article that you want to write

·????????Obtain ideas on items to include in a speech or presentation

·????????Receiving answers to general questions and explanations on various topics

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A limitation is that ChatGPT can sometimes generate incorrect information.?Also, its knowledge base currently does not go beyond September 2021.

It is important to be familiar with ChatGPT capabilities and how your employees are using the technology.?If you don’t get in front of it, before you know it, employees could be sending out AI-written materials that may not be original or accurate.

ChatGPT Best Practices

The following are best practices to facilitate the responsible use of ChatGPT:

??????????Understand ChatGPT weaknesses (errors, lack of detail, potential bias)

??????????Define ChatGPT role (tell employees how they can and can’t use it)

??????????Consider customer privacy (look at data security)

??????????Ensure human oversight (don’t use its responses unedited)

??????????Measure performance and optimize (see what’s working & what’s not)

??????????Be transparent about using it (e.g., put a note on your website)

?Interested in a discussion? Please contact Peter Jacobson at 201-493-1414 x321.


Woodley B. Preucil, CFA

Senior Managing Director

1 年

Peter Jacobson Thanks for sharing this insightful post. I agree with your perspective on this topic.

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