How ChatGPT Will Leave Businesses In The Dust In 2023

???????????In 1956 the term “artificial intelligence” (AI) was coined by American computer scientist John McCarthy, and today, AI is helping businesses, large and small, perform complex tasks by providing three distinct advantages:

·????????Cutting costs

·????????Saving time

·????????Embracing creativity

???????????Human capital is one of the most expensive costs, and AI can reduce the bottom line. If a singular?task is given to one person within the company, it would be a feasible workload. However, if the task is replicated thousands of times and spread among numerous employees, it could become unmanageable. Suddenly, money is being burned for something time-consuming yet necessary. AI can perform simple and repetitive tasks, saving millions of dollars annually. Companies that adopt AI can better allocate their employees to get more done with fewer resources.

???????????Ask AI for some lines of code by giving it a task, and watch it be done in seconds. By leveraging AI’s power, programmers can focus on higher-level problem-solving and innovation while leaving mundane and repetitive coding tasks to the machines. AI can help optimize workflows and streamline business processes by identifying patterns and trends. This saves time so employees can focus on solving complex challenges for the company. ChatGPT reached one million users in only five days, which took Netflix over three years to accomplish. The number of AI userbases is increasing daily, a witness to its usefulness?(Buchholz, 2023).

????????? ?Innovation is the lifeblood of companies, and AI can help the team generate new ideas. Creating new ideas can be difficult, often requiring significant resources and creative energy from a group of individuals. AI-powered systems can analyze large amounts of data from various sources, such as market trends, customer feedback, and industry research, and can then be used to identify patterns and opportunities that might go unnoticed. With the involvement of AI in innovation processes, companies will gain a competitive advantage over their competition, leaving them in the dust.

???????????The adaptation of AI will help companies thrive in their respective markets. AI can financially help companies by freeing employee time to focus on tasks AI isn’t working on, which allows for increased workplace creativity and profits. AI is still new and has already done so much for businesses. The technology will only improve from here. Artificial intelligence helps businesses by saving them time and money through its deep understanding of language models and code generation.

References

Buchholz, K. (2023, january 24). ChatGPT Sprints to One Million Users. Retrieved January 20, 2023, from statista: https://www-statista-com.dist.lib.usu.edu/chart/29174/time-to-one-million-users/