ChatGPT: Is the Artificial Intelligence Chatbot Good or Bad for Business?

ChatGPT: Is the Artificial Intelligence Chatbot Good or Bad for Business?

You probably have heard about the new kid in town in the technology industry, ChatGPT, but what you probably did not know is that it will change the world we knew today once and for all in the future, as changes for the finance industry are on the cards for the chatbot based on the integration of artificial intelligence and human training.

A brainchild of the richest man on Earth, Elon Musk and former Y Combinator president Sam Altman, ChatGPT attracted countless attention from the public since it was launched in November 2022. As a variant of the GPT (Generative Pre-Training Transformer) language model, it contains functions that help entrepreneurs to refine their business endeavours with human-like texts and conversations, including writing marketing contents, performing computer codes, translating texts to multiple languages, automating customer experience, building a smooth onboarding process, etc.

Nonetheless, a powerful chatbot like ChatGPT is a double-edged sword that brings both advantages and dangers to everyone. Let us dive deeper into it right away.

The Goods:

As you have already known earlier in this article, ChatGPT’s services allow business owners to get things done in a far more efficient way and reduce the chances of mistakes or errors that a human employee would commit. An area that it will excel at improving would be the customer experience and service that a business can provide, most notably in its online platform. 

With more and more people preferring to have an automated bot to answer their queries than to have their time consumed waiting for replies from human customer agents, we could well see ChatGPT disrupting the customer service industry that we are so used to. The personnel in a company may collect past customer inquiries to tailor their own designated but natural-sounding replies via ChatGPT, with many companies having already been using such technologies to overcome the competition brought upon by their peers.

The Bads:

With groundbreaking mechanisms installed, artificial intelligence chatbots like ChatGPT can be used for malicious purposes. As it is limited to events that happened before 2021 due to its database as well as its model as a beta version, these restrictions give people with ulterior motives to generate false information and fake news, leading to further problems such as personal privacy concerns. If it is left to the hands of bad people, others could be manipulated to disclose their personal information, and losing their wealth or having their reputation tarnished as a result.

And then we have the question whether it can replace jobs especially in the creative and marketing industries. But fortunately, regardless how advanced a chatbot can be, human’s critical thinking skills and creativity will still prevail as compared to their technology counterparts. 

Use It Wisely

In short, ChatGPT is great for both good and bad reasons. Perhaps it is still too early to judge the chatbot until its official version is launched. Until then, it is really up to us to make use of the technology while not compromising qualities a human possesses.

(Photo Credits: The Guardian)