Can ChatGPT be used in conducting market and other analyses that are helpful in managing a business entity?
What could be other applications of generative artificial intelligence, the ChatGPT language model or other similar artificial intelligence technologies in the business of companies and enterprises operating in the SME sector?
Currently and prospectively, generative artificial intelligence, a ChatGPT-type language model, is finding various applications helpful in analyses carried out for business purposes. ChatGPT can be helpful, for example, in quickly drawing up a competitive analysis against a specific company, enterprise, start-up or other type of business entity. This kind of real-time analysis can be helpful in the effective management of a business entity. However, an issue for the time being may be the outdatedness of the data and information contained in the database that ChatGPT uses to answer questions. The aforementioned database is a kind of Big Data database built from data and information collected from a selection of multiple websites, but not now only in 2021. Large corporations, including large technology companies, have the financial capacity to create research and development departments within their company structures, where they develop technological innovations, new technologies, technology standards, etc., in order to be technologically at the forefront and maintain their strong position in specific markets. Consequently, large technology companies also have an interest in ensuring that emerging new technologies and innovations are quickly incorporated into their business. This also applies to the currently developing Industry 4.0 technologies, including machine learning, deep learning and artificial intelligence. On the other hand, companies and enterprises operating in the SME sector, including above all micro-enterprises and start-ups, have much more limited financial possibilities to finance the creation of research and development departments within their organisations, where new technologies, innovations and technological standards would be created. Of course, SME companies are also interested in incorporating new technological solutions and innovations into their businesses. However, the new technologies that they implement are not mainly the result of their research activities, but are bought and then implemented as ready-made solutions, already proven technologies or patents applied in other companies. However, some technological solutions for new technologies and/or specific applied and open-access technological solutions for information Internet services are also available for use by companies and enterprises operating in the SME sector already in the early stages of business development and with relatively small financial investments. For example, these are the Internet-accessible new online media, social media and online information services offered by large Internet-based technology companies, which have created specific standards in the implementation of certain Industry 4.0 technologies and have established a strong position in the market for certain online information and other services. Consequently, the currently rapidly developing artificial intelligence technology, including specific solutions of it made available on the Internet such as ChatGPT, can be used in specific business development support applications by various types of business entities, including companies and enterprises in the SME sector. For example, ChatGPT can be used in carrying out market and other analyses that are helpful in managing a business entity also operating in the SME sector. However, the applicability of both this kind of shared technological tool, a kind of language model of generative artificial intelligence made available on the Internet under an open access formula, and other technological solutions of artificial intelligence, which will probably soon be offered by the technology companies creating them, is much greater.
In view of the above, I address the following question to the esteemed community of scientists and researchers:
What are the applications of ChatGPT in the business of companies and enterprises operating in the SME sector?
Can ChatGPT be used in conducting market and other analyses that are helpful in managing a business entity?
What could be other applications of generative artificial intelligence, the ChatGPT language model or other similar artificial intelligence technologies in the business of companies and enterprises operating in the SME sector?
What is your opinion on this topic?
What is your opinion on this subject?
Please answer,
I invite you all to discuss,
Thank you very much,
Best wishes,
Dariusz Prokopowicz
My GPT says:
"
ChatGPT is an AI-powered chatbot that can be used by companies and enterprises operating in the SME sector to automate their customer service and support operations. The chatbot can be integrated into the company's website or social media platforms to provide customers with instant support and assistance.
Some of the uses of ChatGPT in the business of companies and enterprises operating in the SME sector are:
1. Customer support: ChatGPT can be used to provide customers with instant support and assistance. The chatbot can answer frequently asked questions, provide product information, and help customers with their queries.
2. Lead generation: ChatGPT can be used to generate leads by engaging with potential customers and collecting their contact information.
3. Sales support: ChatGPT can be used to support the sales team by providing product information, answering customer queries, and guiding customers through the sales process.
4. Marketing: ChatGPT can be used to promote products and services by engaging with customers and providing them with relevant information.
5. Feedback collection: ChatGPT can be used to collect feedback from customers and improve the company's products and services.
Overall, ChatGPT can help companies and enterprises operating in the SME sector to improve their customer service and support operations, generate leads, support sales, promote products and services, and collect feedback.
"
I wondered about market analysis using neural networks and did a little research for myself. The conclusion is that what non-developer organizations can use (they don’t even sell advanced versions) is an excellent tool for collecting and summarizing (sometimes with errors) not fresh information. The fact is that we are dealing with a handler for our own storage of files written to a certain number. Anything could happen between now and that date. The second difficulty is the prohibition of developers on forecasts in certain areas (financial markets, etc.), which some neural networks honestly report. I would highly discourage replacing the analyst with a neural network. Of course, if you manage to get to the neural networks used by the development organizations themselves (which is actually not realistic), then the material received from the neural network in the form of recommendations can be extremely interesting to analysts, but it should also be checked. I am waiting for news when someone will have a neural network with access to the open Internet for information. Whoever succeeds first will become powerful, because they will be able to make better decisions based on open information, but others will still rule the world, because they have sources of classified information. And to compile a database of competitors for a construction company, the neural network will help you right now.
Barriers to adoption by SMEs should be analysed. Probably its size and its absorption capacity (skilled labor) will be a barrier to incorporate the AI tool.
Unfortunately, SMEs that do not have financial resources or qualified people will find it more difficult to access the benefits of AI, therefore there must be public policies to support SMEs, especially in developing countries
Here comes the answer from ChatGPT:
ChatGPT can have several valuable uses in the business of companies and enterprises operating in the SME (Small and Medium-sized Enterprises) sector. Here are a few potential applications:
It's important to note that while ChatGPT can be a useful tool, it may not replace human interaction entirely. Businesses should consider leveraging ChatGPT alongside human support to ensure a balance between automation and personalized service.
Recently, there are many applications, plug-ins based on ChatGPT, which are dedicated to specific business applications in business entities.
Best regards,
Dariusz Prokopowicz
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