Find Out How ChatGPT Can Make or Break Your Small Business!

Key points

• The trick is to make the new technology work for you, not against you.
• ChatGPT can help small businesses in a number of ways, particularly in customer communication and content generation.
• However, it is not perfect: the content may not be accurate and there may be unresolved legal issues.

Love it or hate it, ChatGPT and other applications that use artificial intelligence (AI) technology are becoming a part of our lives. ChatGPT is an AI chatbot created by OpenAI that has collected vast amounts of information and can use it to produce human-like responses. According to ChatGPT itself, “it can be used for a wide range of applications, including customer support, tutoring, content generation, and general purpose chat interactions.”

Similar programs exist, such as Microsoft’s Bing Chat and Google’s Bard, but what they have in common is that they can transform the way we create content and interact with information. As a small business owner, that could save you a lot of time. But it’s early days and there are still several unresolved issues.

Oh crap! The pros and cons of ChatGPT

There are many ways that companies can use ChatGPT to save time and money. For example, some uses include:

• Generate content for a website or other forms of communication
• Produce or debug programming code
• Answer customer inquiries in real time
• Investigate and consolidate information.
• Translate content into different languages.

At this time, it is free to use ChatGPT. Create an account and experience for yourself. You can ask ChatGPT to generate an article on how small companies could use AI and what risks they might face. Or have him provide you with a list of SEO keywords to include in the article you’ve written. Or write a note for a client. I used it yesterday to write a complaint letter to my airline for a canceled flight. It can produce hundreds of words in seconds.

The problem? Those words may not be entirely accurate. Ultimately, the AI ​​is only as good as the data that has been input. So if you gobbled up entire Reddit forums or huge swaths of chat room content, who knows what you might burp up. You’ve probably met someone in real life who formed most of their opinions based on social media. Is this someone you’d like to put in a customer-facing role?

The AI ​​also doesn’t have the same sense of right and wrong (both morally and in terms of knee-jerk fact-checking) that a human researcher or writer might have. Also, if ChatGPT doesn’t know something, and doesn’t know that it doesn’t know, that might not stop it from responding. Experts have called it “hallucination,” and it’s one of the biggest dangers of using AI right now. That and the unresolved legal issues, which we’ll get to later.

It’s also worth noting that, as is often the case with new technology, there may already be proven software out there that does the same thing. Let’s say you want to use AI to gain more detailed insights into your customers’ behavior and improve your communications. But new is not always better. There are already some great ones customer service software in the market.

How ChatGPT could impact your business

If you’re a fruit vendor or a yoga instructor, it’s unlikely that ChatGPT will change your day-to-day operations much yet. You may be able to use it to improve your customer relationships and save time in certain areas. But other forms of AI can have a more significant impact in many industries. For example, some yoga studios are using AI to analyze people’s poses and provide feedback. Farmers are using AI to up their game, for example by improving irrigation and detecting plant diseases early. Pay attention to AI applications so you can stay ahead.

However, if your business relies on any form of content creation or programming, for example, ChatGPT could have a more immediate impact on your bottom line. A tool that can quickly and cheaply generate content or computer code may well tempt your existing customers. ChatGPT and similar programs are here whether we like it or not. The question is, what can you do about it?

Part of the answer is in understand the limits of AI and pivot your bid accordingly. For example, you can position your company as an expert in humanizing computer-generated content. There may be a need for services that specialize in verifying and polishing AI output. Or maybe you can add value by interviewing people or doing other things that a computer can’t.

Be aware of data protection, copyright and other legal implications

OpenAI recently changed its data usage policy. Unless you opt-in, the information you enter will not be used to train or improve the ChatGPT model. This is a big step forward, but you still need to be careful with sensitive data. If you enter sensitive customer data into ChatGPT, you may be in breach of your agreement with them.

Another thorny issue is copyright and plagiarism. If you’re using AI-produced content, make sure you run it through a plagiarism checker. You don’t know where he got his words from, and some might have been taken from a copyrighted source. More generally, some argue that if ChatGPT learned by mining large amounts of online content, the original authors should give permission and be compensated.

On the other side of the coin, there are questions about who owns the content that ChatGPT produces. Let’s say you generate content for your blog using ChatGPT. In this case, you would not be the copyright owner of that content. Your competitor could ask ChatGPT the same question and generate the exact same content. Or copy and paste it from your site, it is not owned by you.

Bottom line

There’s always a lot of hyperbole about new technology, and some of the issues people have raised about AI are certainly worrisome. But as a small business owner, the trick is to understand what’s on offer and think about how you can use it to your advantage. AI can handle a lot of everyday tasks, which could free you up to do things a computer can’t.

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