81% of Business executives consider AI a mainstream technology in their businesses. A Gartner report also estimates that customer satisfaction may grow by 25% in 2023 in organizations that use AI [1]. The relationship between businesses and AI technologies is poised to increase, especially with the release of new technologies and revolutionary chatbots like Chatgpt that can generate human-like text in a conversational context.

This unique ability makes ChatGPT potentially useful in a wide variety of business applications, especially when automating interactions with customers. Read on as we explore the various ways you can use ChatGPT for business and the benefits it presents.

What is ChatGPT?

ChatGPT is a large language model developed by OpenAI. The model is based on GPT-3 and uses Natural Language Processing (NLP)[2]. It is trained to understand and respond to user input conversationally.

As a pre-trained language model, ChatGPT relies on a huge database of training data to understand the structure and pattern of natural language. The result is better and more coherent responses that enable it to generate a wide variety of texts, including articles, screenplays, stories, and more. It can also be used to generate code and other technical documentation [3].

Due to these natural language processing capabilities, companies are now considering using ChatGPT in businesses (especially for business applications such as content marketing, customer service, and personalization, among others).

If you are interested to know more about this AI-driven technology, we encourage you to download new eBook prepared by our AI experts! 

Benefits of ChatGPT in businesses

Businesses are continuously looking for effective and cost-effective ways to improve their product offering, service delivery, and scalability. To this effect, 91% of leading businesses invest in AI on an ongoing basis due to its ability to automate tasks and provide valuable insights [4].

Unlike other chatbots on the market, ChatGPT offers added benefits that cut across all areas of business – not just customer service. Here are some of the most notable benefits of using ChatGPT in the business:

ChatGPT for businesses: improved productivity

The average employee is only productive for 60% of their work day. Productivity levels are even worse for office workers, who are barely productive for two and a half hours a day[5]. This means that any business that wants to stay competitive must figure out better ways to keep its employees engaged and productive.

One of the best ways to improve productivity in any business is through automation. Using ChatGPT in business can automate a wide variety of tasks, freeing up your employee’s time to focus on more intricate, strategic work.

For instance, ChatGPT can generate reports, handle customer complaints, and even create content marketing materials such as email campaigns and social media posts.

ChatGPT can also help keep employees engaged by automating routine tasks such as content creation, report generation, translation, and data analysis. The result is more engaged employees who stay focused for longer and get more work done.

ChatGPT for businesses: marketing and lead generation

Some of the biggest challenges content marketers face are getting ideas for new content, creating content that generates leads, and creating engaging content that resonates with their target audience [6].

ChatGPT can help content marketers alleviate some of these issues. For starters, content marketers can use the language model to generate marketing content such as product descriptions, and email newsletters. As a machine learning model, ChatGPT can learn the style and tone of a business’s marketing materials and generate new content that is consistent with the business’s brand and voice.

Another effective way of using ChatGPT in businesses for content marketing is using it to provide personalized content and recommendations. The language model can effectively analyze user data and behavior to generate personalized content that is not only relevant but also engaging.

You can also use ChatGPT in business by incorporating it into your chatbots to engage visitors and help them find the information they need. While they’re at it, they can use ChatGPT’s capabilities to include a preset questionnaire to persuade site visitors to lead generation, which ultimately leads to higher conversion rates.

ChatGPT in businesses: improved customer service

The natural language processing capabilities of ChatGPT allow it to understand and respond to customer requests naturally and conversationally – almost as well as a human would. The effect is improved customer experience and loyalty.

ChatGPT can also handle a large volume of customer requests simultaneously, thus allowing businesses to scale their customer service operations without necessarily having to add additional staff. This can greatly reduce response time and improve overall efficiency.

You can also use ChatGPT in business to gather and process customer data so they can get insights into customer needs and preferences. The collected data can also be used to improve a company’s products, services, and overall customer experience.

How to use ChatGPT in businesses and not only

For personal use

Using ChatGPT in business is pretty straightforward, thanks to its minimalistic interface. ChatGPT works much like a regular messaging app, where you type in text and press enter. The only difference is that instead of sending a message, ChatGPT answers the question.

The language model is optimized for dialogue, which means that you don’t have to key in long blocks of text each time you have a follow-up question. You can simply ‘speak’ casually to it, and it will follow along with the conversation.

All follow-up questions are typically added to the conversation thread, which the system can look back on. That said, you’ll need to refresh the chat with the ‘new chat’ button at the top left of the page to erase the details of your previous conversation when starting a new one.

For web developers

Although it’s not an absolute requirement, marketers need to learn to code. Coding skills make marketers better and more effective at their jobs. ChatGPT can be very helpful when creating small pieces of code or debugging a set of code to remove errors.

Unlike with personal use, developers need to sign up for an OpenAI API key that gives them access to the model, so they can use it in their applications.

As a developer, you can install and set up ChatGPT in your system through the following steps:

• Visit the OpenAI website and create a free account
• Browse through the selection of API keys on the API page to generate a new key
• Copy and store the API key, so you can access the model whenever you need to
• If, by any chance, you’re coding using Python programming language, you have to install the OpenAI Python Package to gain access to the model from the python code.

ChatGPT for content marketing

Many content marketers are already using ChatGPT for content marketing. The model’s ability to generate compelling content marketing copy in the form of articles, email campaigns, and even newsletters is making it a game-changer in the content marketing industry.

With that said, despite being one of the largest and most effective language models in the world, ChatGPT has a few limitations, particularly around being excessively wordy, overusing certain phrases, and providing the same response to multiple users for the same query, thus lacking personalization.

Therefore, to effectively use ChatGPT for content marketing, content marketers need to employ their skills to provide domain knowledge, ask good questions, and review created text.

Here’s how content marketers can set up ChatGPT for businesses:

• Visit the OpenAI website and sign up for an account
• Configure your preferred ChatGPT settings, including its tone, language, and response time
• Integrate the model into your social media channels or website chat functions
• Input specific prompts or queries and let the model generate a response
• Review and edit the response as needed to ensure relevance and accuracy
• Repeat the process as needed to assist with content creation, customer queries, and information-gathering tasks

Final thoughts on ChatGPT in businesses

ChatGPT is a game-changer in the world of business. The revolutionary technology can improve nearly all aspects of business, including streamlining customer service, lead generation, and even generating marketing content.

Additionally, due to its ability to adapt and learn from its interactions, ChatGPT in businesses is a valuable asset for any organization looking to enhance user experience, boost productivity, and ultimately stay competitive – all the while without breaking the bank with overwhelming overhead costs.

References

[1] Gartner.com. Top 10 trends in Digital Commerce. https://www.gartner.com/smarterwithgartner/top-10-trends-in-digital-commerce, Accessed January 11, 2023

[2] IBm.com. Natural Language Processing. URL: https://ibm.co/3IR1SrX.  Accessed January 11, 2023

[3] Towardsdatascience.com. Pre-trained Language models Simplified. URL: https://towardsdatascience.com/pre-trained-language-models-simplified-b8ec80c62217. Accessed January 11, 2023

[4] Businesswire.com. 2020 Data and AI Executive Survey. URL:  https://bwnews.pr/3QHpKA6. Accessed January 11, 2023

[5] Voucercloud.com. Office Worker Productivity. URL: https://www.vouchercloud.com/resources/office-worker-productivity. Accessed January 11, 2023

[6] Hubspot.com. Hubspot blog Marketing Industry Trends. URL: https://bit.ly/3ZI837B. Accessed January 11, 2023

The post How can you use ChatGPT in business? appeared first on Addepto.