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Chat GPT is a new go-to that has made a big splash in the tech community. “We’re not far from a dangerously strong AI” said Musk. 

Swiss bank UBS named Chat GPT the fastest-growing app of all time. Just in five days, it won its first million users. To see the big picture, here is how other famous companies compare:

ChatGPT growth

Students have been using Chat GPT in the classrooms to write essays, while hackers started writing malicious code with its help. Before we dive into other, more ethical applications of Chat GTP, let’s find out what is Chat GPT.

What is Chat GPT?

Chat GPT (short for chat generative pre-trained transformer) is an NLP model trained on a large dataset of human conversations to generate human-like responses in a conversational way. It’s one of the largest and most powerful language-processing AI models with more than 175 billion parameters.

Being a business owner you might also be wondering: how can I use Chat GPT for my business, right? 

7 Practical Ways to Use Chat GPT in Your Business:

# 1 Customer Experience Improvement and Cost Optimization

Chat GPT bot might be used for customer support by providing immediate and around-the-clock help to your existing and prospective customers. Treating customers’ requests this way may become one of the key factors for them to choose you instead of competitors. Using a bot to handle customer queries might not only reduce your operational costs but also give an additional reason for your customers to recommend your company to their friends or relatives.

As an example, you can think of an online store, where a digital consultant can help buyers to find things of the right size, select the right colors or even suggest clothes combinations that look good together.

Also, worth to mention that OpenAI GPT-3 is not limited only to written communication, you can even create an AI-based voice consultant which might have a positive impact on your brand image.

# 2 Lead Generation

Another creative application of AI like Chat GPT might be leveraging it for traditional lead generation mechanisms. There are a few ways how Chat GPT chatbot can be used for that purpose:

  1. When someone visits your company’s website, a bot can engage with such person and ask questions to obtain contact details and gather any other data that might be relevant to your business and will help to establish a contact;
  2. You can create a chatbot that might offer free resources or information to your customers in exchange for newsletter sign-up or agreeing to a free trial of your product.
  3. Email or social media marketing campaigns – let AI do the work for you and send personalized messages to potential or existing customers.

# 3 Expanding Your Market

Given Chat GPT is able to translate into different languages, it may become very helpful when scaling your business and entering new markets. Using this chatbot functionality you can ensure that both product description and customer support are in the local language, which helps to build trust in your brand and increases your chances to succeed.

#4 Information Search

If your app or product has an element of information search, you should consider the bot to help users to find the exact information they need. ChatGPT demonstrates great performance and accuracy of search, and big companies like Microsoft are already exploring if this solution might be integrated into their search engines. 

#5 Creating Social Media Content

In today’s world, most companies have a presence on social media. For some of them, it is just one element of business, for some social media is the actual business. Using Chat GPT bot can help you to come up with creative ideas for your publications, understand current trends in your industry or even write articles or posts that might bring value to your followers. 

Some video content or podcast creators might use Chat GPT to prepare scripts for their shows  - just give it the list of topics and ask the bot to reorder them in the most sensible way to structure your thoughts or try to recreate scenes suggested by AI. Obviously, it has its own limitations but when used wisely it is a powerful tool to help you in managing your social media.  

#6 Business Plan Writing

Business plans are quite complex documents and are often unique to each entrepreneur, so it might not be the best idea to fully rely on AI when writing a new one, however, you might ask a bot to give you the direction or suggest some ideas that you can evaluate and decide whether it works for you. So, it clearly has a strong business strategy and idea generation capabilities when talking about separate business plan elements, but it is hard to expect AI to explain your vision better than an experienced business coach. 

#7 Handy Tool for Software Developers

There are many articles and videos around, that speculate by saying that Chat GPT will take a programmer's job. Here at inVerita, we know that the job of a programmer is not just writing code - such a person also turns ideas into desired solutions. It is hard to imagine that an artificial developer will be able to implement our customers' ideas in the exact way they want them to be, however, it might become a useful tool that can save time for less demanding tasks and developers’ self-education. 

Here Are More Applications of Chat GPT:

Applications of Chat GPT

A Final Note

Chat GPT: a friend or a foe? There are still a lot of gray areas when it comes to AI capabilities and limitations. Definitely, it has immense potential for evolution and automating everything that can be automated. But it’s also important not to underestimate human work that can’t be substituted by machines.

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