ChatGPT’s Business Impact Will Be Exponential

ChatGPT, a generative artificial intelligence developed by OpenAI, has the potential to bring about significant changes in the corporate universe. But contrary to what many say, this technology will not replace human beings. Instead, it will empower them and increase their efficiency in the workplace.

Users are already noticing a high degree of accuracy when using ChatGPT to answer questions, advise them in the decision-making process, or solve problems that require logical reasoning. Imagine the benefits this technology can have for improving customer service, obtaining insights, and reducing operating costs within your organization.

Modernizing your legacy applications to include this intelligence and leveraging it in systems that are vital for data analytics will help you maximize the benefits of ChatGPT. That will considerably reduce the time employees spend performing tasks and generate more efficiency for the business. Better yet, ChatGPT can be customized to meet the specific needs of each organization.

Benefits that Drive Business Value

For customer-facing professionals, ChatGPT makes it easy to consult manuals, documents, records, and knowledge centers. The technology identifies, in seconds, the necessary information that the professional needs. That saved research time leads to faster and more high-quality solutions to the customer’s questions and concerns.

Here’s one interesting customer-facing use case: ChatGPT can analyze telephone calls. The AI transforms the conversation into text, identifies data, and fills in forms. ChatGPT even evaluates the quality of the service provided and the customer’s mood during the call.

The creation of ChatGPT led to OpenAI being considered the most disruptive company in Silicon Valley, according to the CNBC survey Disruptor 50. However, OpenAI does not rely solely on ChatGPT. They used generative artificial intelligence to create other technologies that help day-to-day business, such as:

• GPT-3: Tool that understands and generates text. Any and all textual production can be created on it without the chat and/or communication interface.
• Codex: Created to understand and generate programming code. This functionality speeds up the development of both the base codes and the programming itself, making the work of developers easier. In addition, it can be used by people with little or no programming knowledge, empowering them.
• DALL-E: This technology can create realistic images to generate art for games and movies. It can be very useful in areas like product design and data visualization.

At Programmers, we used AI to drastically reduce manual processes for a healthcare revenue cycle management company. The organization helps US-based oncology practices detect if they undercharged insurance companies for procedures. We trained AI systems in complex rules to discover undercharged procedures, limiting the need for employee intervention (and thereby reducing human error).

Global Debate on Regulation

With AIs like ChatGPT emerging across industries and its applicability to all businesses seeking innovation, there is a growing discussion around regulation. The European Union, for example, is taking the first steps to regulate AIs like ChatGPT with the proposed Artificial Intelligence Act.

The text of the bill will be presented to the European Parliament committee soon. If approved, negotiations will begin with EU member countries for the drafting of a definitive law. Regardless of whether there is a law that imposes rules on the use of AI, we know that companies must be committed to using it in a responsible, transparent, and safe manner that respects the privacy of users. It is the minimum expected.

Overall, we know that ChatGPT is a new technology that is still in its infancy. Even if many organizations are adopting it, betting on something new is not always an easy decision (or even the best decision).

We still don’t know what the future will hold for ChatGPT, but the race to innovate through disruption is huge and has only begun. ChatGPT has turned many possibilities that were once academic in nature into reality, and I see the effects in the daily lives of clients across many key sectors.

What I can say confidently is that even if this solution does not evolve further, the version that is currently in place already has huge potential to transform the way professionals work.

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