The AI model called GPT-3 probably needs no introduction. Released by OpenAI, a large language model capable of self-improvement is a breakthrough technology. Not only because you can ask it any business-related question or use it as a sparring partner when making key decisions. ChatGPT, or rather, the language model it is based on, is revolutionizing business as it can be integrated with existing applications and customized for your own purposes. Read on to find out more.
Using ChatGPT in business – table of contents:
What is ChatGPT?
Generative Pre-trained Transformer (GPT-3) is a state-of-the-art language model that can generate human-like texts. According to research conducted by OpenAI, the latest version of GPT-3 can answer a question correctly in 67% of cases. That’s because it’s not always able to understand the context of the question. This, in turn, can lead to wrong answers. Although the answers given by ChatGPT can be a good starting point, you must always check the accuracy of the information it provides. Then, how to talk to ChatGPT so that its answers are helpful and inspiring?
In order to take advantage of the amazing features of ChatGPT, you must first learn how to talk to it, i.e. create the right prompts. In this way, the AI model will understand what kind of answers we expect from it. If you ask ChatGPT what it thinks about implementing project management software in a medium-sized company, you will get a vague answer:
“Such software helps integrate project management processes, improve communication within the company, better plan and monitor project progress, and makes it easier to manage project resources and costs.”
However, an equally vague answer could be expected from a person who doesn’t know your company, its real needs and the problems to be solved by the implementation of new software. So let’s try to rephrase the query. It should be:
- specific – clearly state what kind of answer you expect,
- detailed – point out what software you want to implement and what problem it’s supposed to solve,
- context-sensitive – provide the specific data needed to respond in a personalized way, such as what size the company is and what industry it operates in,
- as brief as possible.
The second query formulated in line with the above rules, will be as follows:“Conduct a SWOT analysis regarding the implementation of Firmbee to solve a problem with inefficient scheduling and pricing of individual plans for female clients, in a company with 25 employees that provides personal training and rehabilitation.”
ChatGPT provided the following answer:
- Implementing Firmbee will allow the company to effectively plan and price individual plans for female clients.
- The tool will track clients’ progress and help to better tailor training plans to their needs.
- Implementing Firmbee will require additional time and money.
- Adopting a new tool may require training for employees and time to learn new skills.
- Implementing Firmbee will allow you to manage your time and resources more efficiently, which will contribute to the company’s productivity.
- Effective scheduling and pricing of individual training plans can attract new clients and increase their satisfaction with the company’s services.
- The tool will make it easier to monitor clients’ progress and make changes to their training plans on a regular basis.
- Implementing this new tool may cause additional difficulties in case of possible technical problems.”
The SWOT analysis presented by ChatGPT is not in-depth, but it is a perfect starting point for further analysis, which can be carried out by asking follow-up questions or asking ChatGPT for critical comments on your own opinions.
Writing good ChatGPT prompts
If you are looking for tools to analyze specific business issues, ChatGPT can provide you with basic information by answering questions according to the pattern below:
Another interesting way to use ChatGPT is to ask questions about expanding your business or changing your business model. If you want ChatGPT to help you effectively, you need to start by providing context, i.e. describing your business.
The best way to do this is to use the description on your website or profile page. And if you’ve had your business for several years, it may be enough to ask ChatGPT what your company does by giving its full name. Once ChatGPT knows what your company does, it’s a good idea to refine the question, for example, by adding the following phrases:
- Based on your company’s description, give three ways to expand your business.
- What products are worth adding to my company’s offer?
- What extra services can I provide using my existing business profile?
- How do I set goals for the coming year given the fierce competition?
It is important to remember that within a single thread, ChatGPT remembers the given answers. Therefore, it is worth asking follow-up questions concerning the most interesting suggestions.
ChatGPT vs OpenAI API
If the capabilities of ChatGPT seem insufficient, or you need to use images and multiple languages, the OpenAI API comes to the rescue. Although it is a tool that requires some programming skills, it offers various models that will work not only as a partner to chat or brainstorm ideas. Here are some examples where the OpenAI API can be more beneficial to your business than using a chat:
- real-time translations – it can be very useful for companies that do business internationally and communicate with customers from different countries, or localize their products.
- text classification – the OpenAI API can describe texts using different categories, for example:
- emotional, such as positive or negative,
- factual, such as true or false, and others needed for specific business purposes. Such classification can help companies analyze customer feedback, analyze competitors or assess risks.
- image recognition – the OpenAI API offers models that recognize images and sort them by categories defined by the user. This application can be useful for companies that need to process a great number of images, for example, in the ecommerce, medical or marketing industry.
Interestingly, the models available through the API can be further customized using so-called “few-shot learning”. It is about showing via advanced prompts what kind of a solution you expect. For example, you can use the API to mark model answers to questions as correct. The model will be able to continue according to the given pattern, but with new, previously unknown examples.
Although ChatGPT doesn’t always provide correct answers, it allows you to look at business problems from a different perspective. It can also inspire you to use new tools and encourage you to look at the problem areas in your company. However, it’s worth remembering that ChatGPT is just a tool that should complement your knowledge and experience.
AI in business:
- Threats and opportunities of AI in business (part 1)
- Threats and opportunities of AI in business (part 2)
- AI applications in business - overview
- AI-assisted text chatbots
- Business NLP today and tomorrow
- The role of AI in business decision-making
- Scheduling social media posts. How can AI help?
- Automated social media posts
- New services and products operating with AI
- What are the weaknesses of my business idea? A brainstorming session with ChatGPT
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- What is the future of AI according to McKinsey Global Institute?
- Artificial intelligence in business - Introduction
- What is NLP, or natural language processing in business
- Automatic document processing
- Google Translate vs DeepL. 5 applications of machine translation for business
- The operation and business applications of voicebots
- Virtual assistant technology, or how to talk to AI?
- What is Business Intelligence?
- Will artificial intelligence replace business analysts?
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- AI and social media – what do they say about us?
- Artificial intelligence in content management
- Creative AI of today and tomorrow
- Multimodal AI and its applications in business
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- RPA and APIs in a digital company
- The future job market and upcoming professions
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- Artificial intelligence and the environment. 3 AI solutions to help you build a sustainable business
- AI content detectors. Are they worth it?