Are you an entrepreneur from the SME sector? Then your company can particularly benefit from ChatGPT's AI capabilities. I would like to share with you here 4 capabilities of ChatGPT that can be extremely relevant for your business. Each of these capabilities is a powerful tool for automating work steps in your company.
ChatGPT is much more than a chatbot
Imagine your latest business strategy is based on a misunderstanding: Did you know that viewing ChatGPT as a smart chatbot can be a serious misjudgment?
The assumption that ChatGPT is just a chatbot is widespread among executives and could be the reason why your company is not utilizing the full potential of generative AI. In conversations with entrepreneurs and managers, I hear time and again that ChatGPT is used exclusively as an intelligent chatbot in the company.
But what if I told you that ChatGPT can be so much more than just an assistant for answering customer queries?
In fact, behind this chatbot is a powerful tool that has the ability to fundamentally transform your business processes. It's not just about answering questions or generating texts - it's an AI tool that, when used correctly, can transform workflows, support decision-making and provide creative solutions to complex problems.
In this article, I will tell you why this misconception about ChatGPT represents a missed opportunity for your company and can also be an obstacle to innovation and increased efficiency.
My appeal: Be curious. Discover how ChatGPT's diverse AI capabilities go beyond the features of a chatbot and how you can use these new capabilities to add value to your business.
Change of focus: AI capabilities for your company
If you are thinking about integrating generative AI into your business, I would encourage you to move away from the common notion of a chatbot.
It's time to broaden the perspective and focus on the diverse AI capabilities that a Large Language Model (LLM) like ChatGPT possesses.
AI capabilities go beyond answering questions or generating texts. They offer the opportunity to significantly increase efficiency and productivity in your company, automate work steps and interpret complex data.
That's better than a Swiss army knife, isn't it?
Let's take ChatGPT's ability to aggregate and analyze large amounts of text as an example:
Ask yourself in which processes in your company text is currently read manually, analyzed and processed in IT systems. There are probably many such processes. Imagine you could select one of these processes and use ChatGPT's technical interfaces (APIs) to automate the processing and forwarding of texts in this process step. Let's assume that this process, which was previously carried out manually by employees several times a day, could be carried out automatically by ChatGPT with the same quality.
Imagine the resulting increase in efficiency - not just a small improvement, but a fundamental transformation in the way your employees handle text data.
I know of at least 4 capabilities of ChatGPT that can be highly relevant to your organization. Each of these capabilities is a tool for automating work steps in your company.
Isn't that motivating?
The AI capabilities in detail are:
- Aggregation and analysis of data
- Content creation
- Personalization
- Creation of options for action
It is worth taking a closer look at the individual capabilities of ChatGPT and looking at typical application examples in medium-sized companies. I motivate company managers and executives to use this technology in their own business environment and to discover new, innovative solutions.
ChatGPT's AI capabilities: use in small and medium-sized enterprises in Germany
1. data analysis for product improvements
ChatGPT can process large amounts of data and generate valuable insights for teams and decision-makers. With this capability, generative AI can serve as a basis for strategic product improvement decisions in the company, for example.
Application example: Use of ChatGPT in product development.
A medium-sized mechanical engineering company successfully uses AI to automatically analyze all customer feedback.
Before using AI, reviewing qualitative customer feedback was a time-consuming and error-prone process. Customer feedback was only reviewed manually on an irregular basis and "as required". As a rule, customer feedback had little influence on product adjustments.
ChatGPT now scans all customer feedback on a monthly basis and independently recognizes positive and negative patterns. The AI uses this to form clusters and identify potential fields of action for product improvements. It even goes so far as to suggest specific recommendations for action from the AI.
The analysis results are output in the form of structured data, from which reports and decision templates are automatically sent to the development teams. The teams review the reports and decide together with the management which adjustments should be made to the products.
Regular AI-driven analysis of customer feedback means that innovations can be aligned even more closely with the needs of the market.
2. content creation in sales
ChatGPT has the ability to quickly create high quality content. Generative AI can be trained with company-specific templates to output content in the desired format. This can be useful in all areas of a medium-sized company that communicate with customers and service providers.
Application example: Quotation preparation in sales
A distributor of commercial refrigeration appliances has been using ChatGPT for several months to generate individual offers for commercial customers. The response time to customer inquiries has been reduced by 40% as a result.
The sales process in business with commercial customers is characterized by a lot of customer communication. The sales staff clarify questions, determine the right products and the required quantity. As a rule, several offers have to be prepared and adjusted before a purchase is concluded.
To speed up the quotation process, ChatGPT was trained with the specifications from the company's internal product catalog and the quotation strategy. The AI also analyzes all sales communication with the customer in order to prepare the quotation.
Individual quotation documents can be created quickly and automatically on the basis of this data. The responsible sales employees simply check the quotation once before it is sent to the customer. The employees are relieved and have more resources available for demanding customer support.
3. personalization in HR
ChatGPT can access documents and process descriptions from company departments - in compliance with data protection regulations - and impart company-specific knowledge to staff. In HR, for example, generative AI is used to create personalized responses to employee queries.
Application example: HR assistant for employees
A medium-sized manufacturer of cosmetics has introduced ChatGPT as an assistant in the HR department, and thus answers 30% of employee inquiries to the HR department individually and automatically.
The company's HR department had already made FAQ pages with frequently asked HR questions available to employees on the intranet. There were also process descriptions for recording working hours, vacation regulations, etc. Although the information was available on the intranet, there were repeated e-mail inquiries from employees to HR with questions on precisely these topics. The HR department was overloaded and the response time to employee inquiries was up to 7 days.
The company management has now introduced ChatGPT in a pilot project in the HR department with the aim of answering a larger proportion of employee questions automatically and at the same time responding individually to the needs of the staff.
The AI was then trained with the existing FAQ and process documents. If an employee now sends a question to their HR advisor, the query is transmitted anonymously to ChatGPT. In the first step, the AI checks whether the question can be answered with the help of its specific company knowledge.
If yes, a personalized response is automatically created that is individually tailored to the employee's question. The employee has the option of requesting personal processing by an HR advisor at any time. The human component is extremely important to everyone involved, so that colleagues' concerns can be clarified in direct contact if necessary.
In this way, a larger proportion of daily employee inquiries could be answered more quickly and the HR staff's workload reduced.
I help your company to work more efficiently with AI.
With a thorough assessment, AI workshops and cost-effective pilot projects, we develop a measurable increase in productivity for your company.
4. creation of options for action for decision-makers
Sound decisions are essential in management. What decision-making options are available to management?
ChatGPT has the ability to process complex information and generate various options for action based on it. This ability is particularly valuable in the field of business intelligence, where it is important to interpret market data and trends.
The Harvard Business Review has published an interesting Article published on this topic.
Application example: Generative AI supports managers in decision-making processes
Managers of a medium-sized food company evaluated the use of ChatGPT to optimize their decision-making processes regarding a planned expansion. To this end, the ChatGPT model was trained specifically to support decision-making. The use of the AI-supported tool significantly improved the quality of decision-making.
The aim of the pilot project was to generate as many different decision alternatives as possible and not, as is all too often the case, to concentrate only on the obvious options.
Sample requests to ChatGPT:
"What mistakes do managing directors of medium-sized food companies make when expanding into the new markets of France and Spain?"
"What are the criteria for successful expansion?"
Once sufficient options had been developed by ChatGPT, the decision-makers were able to evaluate them and make a well-informed decision.
The involvement of AI helped the company to make the process more systematic and comprehensive than was previously the case. Many new aspects were incorporated into the market entry strategies, product adjustments and investment priorities at the "suggestion" of the AI. This made the strategy more robust.
Conclusion: Increase added value in your company with ChatGPT
The realization that ChatGPT can be much more than just a chatbot in the company opens up new possibilities for you as a company leader and manager.
Used correctly, ChatGPT becomes a powerful tool for efficiency, innovation and strategic decision making. It is time for managers to see this technology not just as an additional chat tool, but as an integral part of their business strategy.
I invite you to take the initiative and actively explore and utilize the opportunities offered by ChatGPT in your own company.
The first step can be to identify specific use cases in your company where ChatGPT can increase added value. Whether in the analysis of market trends, the optimization of production processes or the personalization of customer experiences - the potentials are manifold and are waiting to be tapped in your company.
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