ChatGPT, a new artificial intelligence chatbot, has taken the internet by storm.

This tool is the latest example of AI-based tools that are augmenting the way we do business. There are many others, but natural language processing bots and generative visual AIs like DALLE•2 are advancing particularly fast.

ChatGPT is a variant of the GPT (Generative Pre-training Transformer) language model that was developed specifically for generating human-like text in a conversational context. It is designed to generate natural language responses when given input from a user — making it potentially useful in a variety of business applications where human-like conversation with customers or clients is desirable.

In light of this new technology, businesses need to think about how they are doing their work, what products and services they offer, and how AIs like ChatGPT could enhance workflows and deliver better customer experiences.

Let’s explore some of the biggest business implications of AI-powered chatbots like ChatGPT.

The Opportunities of Chat-Based AI

Tools like ChatGPT can create enormous opportunities for companies that leverage the technology strategically. Chat-based AI can augment how humans work by automating repetitive tasks while providing more engaging interactions with users.

Here are a few of the ways companies can use tools like ChatGPT:

● Compiling research

● Drafting marketing content

● Brainstorming ideas

● Writing computer code

● Automating parts of the sales process

Delivering aftercare services when customers buy products

● Providing customized instructions

● Streamlining and enhancing processes using automation

● Translating text from one language to another

● Smoothing out the customer onboarding process

● Increasing customer engagement, leading to improved loyalty and retention

Customer service is a huge area of opportunity for many companies. Businesses can use ChatGPT technology to generate responses for their own customer service chatbots, so they can automate many tasks typically done by humans and radically improve response time.