ChatGPT: Ways to unlock business potential

Discover ways ChatGPT can help your business save time and be more productive.

Artificial intelligence (AI) is no longer a futuristic concept that powers robots in movies. AI is part of our day-to-day lives and right now the hot topic is ChatGPT. ChatGPT is an AI-powered language model and versatile tool that can help change the way SMEs operate, in a positive way.

There’s been some real buzz about ChatGTP in recent months and that got us thinking, if AI is here to stay, how could ChatGPT be used at work? A study by IBM found that 35% of companies reported using AI in their business and about 42% are exploring it. Businesses should think about getting ahead when it comes to AI, before they fall behind. In this guide, we will explore how to use ChatGPT in different ways for your business.

What is ChatGPT?

ChatGPT is a free tool, available to all, and is powered by AI technology which can perform a wide range of tasks in a human-like way. The Chat GPT algorithms are super smart and if you’d like to get to know ChatGPT better, it can process language in real-time meaning you can have a conversation and ask questions. In fact, you will often get a response from the chatbot in a matter of seconds, freeing up your diary to focus on more important areas of your business.

The name ‘ChatGPT’ stands for ‘Chat Generative Pre-trained Transformer’ which refers to how the tool processes questions and forms a response.

‘Isn’t ChatGPT just like Google?’ We hear you ask. While there are some similarities, ChatGPT is a sophisticated chatbot that can understand language, while Google is a powerful search engine designed specifically to forage the internet for information. You can ask ChatGPT to do things that Google can’t.

Here are a few fun examples:

It's designed to understand and generate human-like text, making it an invaluable tool for content generation, data analysis, and customer interactions.

Are there any security concerns with ChatGPT?

As with any new technology that’s freely available on the internet, it’s open to exploitation by cybercriminals. Chatbots can be vulnerable to bot takeovers, but AI developers are always evolving and improving security as much as they can.

That said, it’s important to train your employees on how to use ChatGPT safely. You can also use a secure connection when accessing the internet, encrypt sensitive data, and control who has access.

Top ways you can use ChatGPT in business:

Improve & correct pre-written content
Let’s say you’ve written a blog, newsletter, or article but you want to check it for spelling mistakes, clarity, and tone. Simply ask ChatGPT what you would like it to do and paste in the text you would like it to check. It’s as easy as that.

Research

ChatGPT can assist in gathering information, summarising articles, and even generating reports, which saves you valuable time. By using AI to assist your data collection, you can focus on the strategic side of your business, like reviewing and analysing the research to inform content, campaigns and activity.

Ask for ideas
ChatGPT can be your creative idea generator if you struggle to come up with fresh content ideas, product names, or marketing strategies. By providing a simple ‘prompt’, you can ask ChatGPT to generate a wide range of creative ideas to spark your next big project.

Businesses can use AI as a springboard to bounce ideas off and get some fun and innovative creative prompts. Simply input what you’re looking to achieve, while being as specific as possible, and the chatbot will come back with ideas, feedback, and solutions. For example, ‘give me ideas for fun social media posts about summertime.’

Drafting emails
AI is a time-saving communication tool. Ask ChatGPT to draft an email, and make sure to include key points. Check the email over, as AI isn’t perfect, and you want to ensure the email still sounds like it’s coming from you.

Proofreading and Editing

Great for quickly proofreading and editing your documents – Chat GPT is a lifesaver if your business needs to regularly produce error-free and well-structured content. So make sure the language is right for your target audience.

Summarising information
ChatGPT is great for taking a long email, meeting notes, or a brief (to name a few examples) and summarising it into key points and action items. Save time and get right to the point.

Creative Briefs

Sometimes it can be hard to get your ideas down on paper. AI can help bring all your ideas together into a creative brief document with a clear objective. You can use your company template or ask AI to generate one for you. Just be sure to be very specific with your needs, so the chatbot can produce the best possible brief for you.

24/7 Customer Support

Companies use ChatGPT to provide round-the-clock customer support via a virtual assistant or ‘chatbot’ that handles their most common customer queries, freeing up their team to handle more complex queries.

Email Marketing

There’s no need to start with a blank page any more. ChatGPT can suggest ideas for subject lines, body text, and call-to-action content.

Market Research

It’s easier to stay ahead of trends and make informed decisions when you have ChatGPT assisting you with gathering, summarising, and analysing market data.

Social Media Management

Great for social media management, Chat GPT can help you generate social media content ideas, captions, and even suggest trending hashtags, giving you ideas to work with.

Content Curation

ChatGPT can help you find and curate content from various sources, making it easier for you to share informative and engaging content with your audience.

Ad Copywriting

ChatGPT can assist in generating ideas for your copywriter or marketing team to take forward and create persuasive ad copy.

ChatGPT can do all this and so much more; we’ve only scratched the surface. It’s a great time-saving solution for businesses but needs to be used appropriately to ensure your brand doesn’t sound too robotic. Pun intended. Put some time aside to have a go with ChatGPT and see all the amazing things it can do to help your business.

Pros of Using ChatGPT

If you think you could use ChatGPT for any of those tasks, let’s understand a bit more about the advantages it may offer:

Efficiency: ChatGPT accelerates content creation, data analysis and customer interactions, saving time and resources. This allows you to focus on the wider brand strategy, knowing the time-consuming tasks are being looked after.

24/7 Availability: Provides around-the-clock customer support through chatbots and virtual assistants. Supporting your customer service activity with personalised and efficient responses, ChatGPT can enhance your support and alleviate customer pain-points..

Versatility: Useful for a wide range of marketing tasks, from content generation to data analysis. The varied nature of ChatGPT is unparalleled, and offers efficient solutions to support your marketing activity.

Data-Driven Insights: It helps extract valuable insights from customer data, leading to informed marketing strategies.

Error Reduction: Improves the quality of marketing materials by reducing human errors in writing and editing. Whilst it’s sensible to sense-check all content with a human-touch, ChatGPT can act as a second pair of eyes and assist in content creation.

Scalability: ChatGPT can easily scale to accommodate the growing demands of marketing campaigns.

Cons of Using ChatGPT

Now, this all comes with a few big caveats. It’s important to be aware of the limitations and pitfalls of using ChatGPT and similar AI language models:

Quality Control: ChatGPT often generates text that’s grammatically correct, but factually incorrect or inappropriate. You must have human oversight to avoid any mistakes in your content.

Lack Of Creativity: Because it relies on patterns and data from existing text, ChatGPT is limited in its ability to generate truly creative or original content.

Ethical Concerns: It’s possible for AI models like ChatGPT to produce politically biassed, unethical, or harmful content, which could potentially damage your brand's reputation.

Privacy Issues: Handling sensitive customer data must be done carefully to ensure data privacy and security. Mishandling data could lead to legal and ethical issues, including confidentiality breaches, security concerns, compliance issues and privacy violations.

Customer Resistance: Depending on the nature of your business, relying too heavily on AI for customer service may result in some of your customers going elsewhere.

Limitations in Understanding Context: An AI model may struggle to understand nuanced context or specific industry jargon, leading to irrelevant or inaccurate responses.

Now you know more about how ChatGPT can benefit your business and what to watch out for, you can feel confident in your ability to incorporate the tool in your marketing activity.

AI is a powerful tool for your business, and although it requires a healthy mix of human intelligence to balance its output, utilising Chat GPT enables you to focus on your wider business goals. ChatGPT not only enhances user experience but can empower you to build connections with your audience. As a versatile tool, it can elevate your marketing efforts to new heights and levels of efficiency and effectiveness.

Find out more about how AI can help your business and get 1-2-1 support by speaking to one of our V-Hub Digital Advisers.