By this point, you’ve almost certainly heard much about artificial intelligence (AI) tools like ChatGPT. AI and Machine Learning are two technological areas catching the attention of business leaders due to the significant efficiency and quality of service gains across nearly every industry.
You’ve heard that it can generate human-sounding language (true) or take over writers’ jobs (which isn’t entirely accurate). Many businesses have not explored how this integrates with their business processes or other use cases.
One of the biggest questions on your mind may be this: Why should your company use ChatGPT? What are the benefits of ChatGPT for businesses like yours?
What are ChatGPT and large language models (LLMs)?
ChatGPT is a generative AI tool that leverages OpenAI’s large language models (LLMs) like GPT-3.5-Turbo and GPT-4. The basic idea of an LLM is that you can give it a prompt, and it will generate a response that sounds as though a human wrote it. ChatGPT and the underlying models that power the technology exhibit a remarkable ability to handle, understand, and generate text.
LLMs like ChatGPT work because their developers feed them existing, human-written content from across the Internet to train them on how humans write. These LLMs then analyze all of that content to help them understand patterns, context & semantics within the text. By doing that, they learn to mimic the way humans write.
Giving ChatGPT a particular prompt or message can simulate a human-like answer. Of course, there’s no guarantee that the answer will always be remotely accurate, so there are dangers to over-relying on ChatGPT and the underlying large language models. However, at the very least, it can string together coherent sentences that more or less make sense.
ChatGPT is arguably the most well-known way to engage with Large Language Models, but solutions like TeamAI leverage even more models in a business-ready package.
Now that we understand ChatGPT expressly, let’s look at why business care.
Why Should Businesses Embrace ChatGPT and Large Language Models?
Integrating Large Language Models (LLMs) or solutions like ChatGPT into business operations can streamline inefficiencies and improve the quality of repetitive tasks. These improvements can range from improving customer service and internal process optimization to directly impacting customer loyalty.
The primary benefit of generative AI solutions within a business context is related directly to the exceptional ability of AI to process enormous volumes of data compared to its human counterparts. This facilitates the extraction of data from text, which could provide insights that shape critical strategic decisions, as well as the generation of large amounts of text which may have previously been done manually.
What is the impact of ChatGPT and LLMs on small- to medium-sized businesses?
When small- to medium-sized businesses (SMBs) effectively implement LLMs like ChatGPT into their processes, they see clear results. Here’s a brief review of what some of those results look like.
Faster and more efficient workflow
One of the most significant benefits of ChatGPT for business owners is that it can help you streamline your workflow significantly. You can use ChatGPT as an automation tool for some of the tasks listed in the previous section. That means your human employees don’t have to spend as long on them.
More effective customer support
Another way LLMs tend to impact businesses is through customer service. Chatbots are already widely used on business websites, but AI takes these bots to another level. An LLM-fueled chatbot can support users, which may relieve some of the pressure on your human team.
Better branding consistency
Businesses need help with maintaining a consistent style or voice across their content marketing. If that’s the case for your business, ChatGPT could help.
Whichever tone you decide to use in your content, you can always use ChatGPT to help you generate examples of content that match that tone. For instance, you could give ChatGPT a prompt that says, “Write a marketing email for a new clothing line in a casual voice.”
Less time and money commitment
Another benefit of using LLMs in your marketing is that they can save your business significant time and money. When you automate certain parts of your content creation process using AI, you must spend less time and effort manually doing it. That means you also save money since you can produce more results in less time.
Better multilingual communication
Finally, ChatGPT can be hugely beneficial when communicating with your audience in different languages. This is a massive benefit if your business serves a global or multilingual audience. ChatGPT can help you translate your content for different groups even if your team isn’t proficient in various languages.
What are the challenges and risks of implementing ChatGPT?
No tool comes without its challenges, and ChatGPT is no exception. When you implement ChatGPT into your efforts, you’ll encounter a few challenges and risks. Those include:
- Creative limitations: To be effective, marketing must constantly innovate and find new and innovative ways to reach buyers. Unfortunately, AI tools like ChatGPT cannot generate genuinely new ideas since they draw from existing content and are not truly ‘reasoning’ like humans.
- Inaccurate information: Another weak point of LLMs is that they sometimes provide misleading or outright false information. After all, these tools don’t understand the meaning behind their words, so they can’t distinguish truth from falsehood.
- Privacy and security concerns: Security within ChatGPT has been called into question. Sensitive data you might include in your prompts by team members without your knowledge.. Samsung, for example, experienced a data leak to ChatGPT when it tried to use it to check code.
Example Use Cases for ChatGPT and Large Language Models in Business
Marketing & Sales
Marketing teams have already identified ways that LLMs can benefit your business. You can use them to help with multiple marketing strategies, including:
- Content marketing: ChatGPT is excellent for generating straightforward content outlines that you can use as an initial basis for your blog posts and articles.
- Search engine optimization (SEO): An LLM can help you research keywords, learn search intent, generate page titles, and more to improve your rankings.
- Email marketing: ChatGPT can generate email outlines, subject lines, and more so you can more effectively reach your audience.
LLMs are also great for use as chatbots, providing your audience with helpful answers on your website even when you don’t have a human representative immediately available.
When it comes to customer service, your business may need solutions beyond ChatGPT; however, these chat platforms may be robust for smaller businesses. For larger businesses, testing, storing, and managing prompts in a ChatGPT-like platform will help integrate your teams’ knowledge into wider operations.
You can find generative AI solutions for your customer service arms, including:
- Customer Queries: Quick, customized, and precise responses to customer inquiries can significantly amplify satisfaction rates.
- Customer Support: AI’s ability to handle multiple customer support queries simultaneously ensures immediate assistance.
- Personalized Responses: Leveraging user data and behavior, AI can craft individualized marketing campaigns that echo more effectively with the intended audience.
TeamAI is the perfect LLM solution for your business
Though ChatGPT does come with challenges, they don’t outweigh the benefits it can have for your business. Even if you don’t use ChatGPT, powering your business with large language models will significantly streamline your operations.
TeamAI was built with business in mind. It allows collaboration with team members, shared prompt libraries, easily accessible folder structures, and more. Where ChatGPT does well for an individual, TeamAI is the solution for businesses. It’s also model-agnostic, meaning that if an LLM like Vertex becomes the best in the game next week, you’re not committed to OpenAI (like you are within ChatGPT).
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