Just ask ChatGPT - How the chatbot is influencing businesses
Somya Kapoor
Career Counselor - Impacted 50,000+ students| Psychologist | Ex-ISB | UGC NET Qualified
A generated AI was released for free public use on November 30, 2022. ChatGPT has become a buzzword and is changing the business world forever.?
Introduction
Open AI creates this chatbot. OpenAI's owners include a group of co-founders such as Sam Altman, Greg Brockman, Ilya Sutskever, Wojciech Zaremba and John Schulman. The founders created the Open AI in December 2015 by Elon Musk, Sam Altman, Greg Brockman, Ilya Sutskever, Wojciech Zaremba, and John Schulman.?
Elon Musk is one of the founders - it seems something interesting!?
ChatGPT got 1 million users in just seven days!
Read on about its immense popularity and how it is influencing various businesses.?
Let us ask ChatGPT about what it is. I typed in ChatGPT and asked the following -?
It is a chatbot based on generative AI. It chats just like a human and creates a dynamic response to each query you ask.
Applications in business
ChatGPT applies to a range of business domains. Some examples include -?
1. Virtual Assistants?
The software can help companies handle a large volume of customer queries. It gives customizable responses to customers decreasing the cost for business.?
2. Content Creation in ChatGPT
You name a topic, and you can create the content on the platform! It can generate content from blog posts, articles, product descriptions and social media posts. It can save businesses a lot of time and resources.?
3. Lead Generation
Yes! You read that right! ChatGPT can be used to create a chatbot that helps businesses generate leads. For instance, a chatbot can replace engagement time on social media by giving automated lead sequences and capturing the contact information of potential leads.?
4. Customized marketing
Did you ever think of someone who could replace you to send personalized marketing messages to customers based on your past interactions? With ChatGPT, you can just do more customizations and create different versions of your content.?
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You can even create memes on the chatbot!?
5. Social Media Engagement
Did you know that ChatGPT can be used to create chatbots to interact with your audience on social media? The chatbot can engage the audience and reply to their messages.?
6. E-Commerce & Dropshipping
ChatGPT can be used to create chatbots that assist customers with their online shopping experience by recommending products based on their activity on a website and also answering questions for your customers. Thus, making it easy for you to build a relationship with a cold audience. It can also be used to create product descriptions and new content for your products for dropshipping.?
7. Language Translation
The software can translate text from one language to another. It can help companies to enter global markets and interact in the local language.?
8. Generating Reports
Do you have a data set and want to generate insights? ChatGPT can be used precisely for this purpose to help you generate automated reports, summaries and meanings of large data sets.?
9. Training
ChatGPT can be used to train other models, such as sentiment analysis and intent classification models for further application in businesses.?
10. Research?
It can help with comprehensive and accurate research by summarizing data from multiple resources. Do you have a philosophical thought argument that you want to try on in the software? Just go ahead and type it. Do you want to know some theoretical perspectives of quantum physics? Just ask ChatGPT!?
11. Repair codes
The chatbot can repair codes and suggest changes in the current code to improve upon the final output. It can identify errors in the current code so you can replace them!
Disadvantages of ChatGPT
Although ChatGPT offers a wide variety of advantages to the business, it also has certain limitations. Let us briefly look at the disadvantages of a chatbot-?
Summary?
Overall, ChatGPT and other language models can help businesses automate repetitive tasks, improve efficiency, and enhance the customer experience.?
Click on this link and try ChatGPT now. What was the first question that you asked the chatbot? Comment below!