It’s becoming ever clearer that technologies like ChatGPT, one of several new artificial intelligence systems which appears to wield advanced proficiency in using natural language, will open up a plethora of new opportunities for individuals, organizations, and society. It is easy, however, to be stunned by the seemingly infinite number of possibilities that this technology brings about. The goal of this article is to determine how, exactly, a mid-to-large enterprise organization can benefit from this cutting-edge technology by discussing the direct effects of Generative Pre-trained Transformer (GPT) technology that lead to downstream, bottom-line business value. Throughout this article I will reference a solution developed and used by Infused Innovations employees (which you can leverage for free at your organization), called MeetingMiner, to concretely illustrate how GPT can benefit the bottom line.
Society has almost ubiquitously accepted that computers are valuable tools that can perform useful work. One of the most beneficial aspects of natural language processing technologies like GPT is the smooth communication that they enable between humans and computers. These models allow a human to get a computer to accomplish a wide variety of language-based tasks using nothing more than written instructions—the same way you might communicate a request to a coworker—and any relevant context. This special ability means that it is easier than ever to automate those tasks that require natural language processing, like note-taking, finding information, parsing messages and meetings, and sharing information with coworkers.
Imagine sitting down at your desk tomorrow morning and, after having your first sip of coffee, the CEO of your company contacts you to deliver good news: she has hired you a new personal assistant, and word has it that the assistant is bright. Really bright. In fact, the assistant has a perfect memory. Furthermore, they are very diligent, and will be assisting you, from here on out, with any and every cognitive task you perform. You will no longer be spending much time on any work that does not directly deliver value to the firm’s clients. And, to top it all off, the assistant is happy to accept pennies on the dollar for each hour of service, so the company incurs only a very small cost. You’re wary, I get it. Employees this intelligent, diligent, and cheap are hard (probably impossible) to find; but GPT has made it possible for organizations to allocate this kind of assistant to every employee in the organization simultaneously and immediately.
The direct effects of GPT on enterprise employees can be summarized by the following:
- Increased access to information. GPT makes it easier to collect and share information in your organization. The technology can also be used as an interface for a factual backend such as a company database, making it easier for non-technical users to access valuable information.
- Increased creativity. For any task where the instructions can be written down and the output is written (i.e. writing messages, documentation, or articles) the user of GPT can now start from a 70% complete document.
The potential benefits of this organizational change are becoming clearer—let’s break them down.
Collect and share information about customers from regular interactions
One way around administrative tasks like note-taking, capturing useful information, and information-sharing is to not do them at all. Unfortunately, without collecting this valuable information and converting it into a digital format, your organization will miss out on important opportunities to learn and create value for your customers.
Your GPT-based virtual assistant will directly assist you with analyzing and capturing data from the interactions you have with and about customers, including meetings and written messages. Beyond just capturing the data, GPT can process the data into valuable information about customers, which can be stored for further analysis to facilitate organization-wide learning about customers. Some examples of what Infused Innovations uses GPT to do are:
- Recognize the problems that customers have and store them in relation to existing customer records to facilitate opportunity identification at the single-client and multi-client levels.
- Generate meeting notes that accurately summarize the meeting, are 15X shorter than plain meeting transcripts, and require zero in-meeting effort.
- Identify action items/next steps and make them available to the meeting organizer for distribution when the meeting ends.
These capabilities make up the core value of Infused Innovations’ proprietary solution, MeetingMiner, which we’ve developed for use internally and by our clients and partners. We’ve made a demonstration of this solution available to those interested in learning more about its capabilities. Furthermore, we have made the solution openly available so that the IT department at any organization can deploy it. Check out the GitHub repository for more details.
Increase organization-wide learning about customers
By automating repetitive tasks such as data capture and note-taking, GPT can help improve the flow of information throughout the organization and facilitate shared learning about customers and their needs. Once information has been recognized and tracked about customers and opportunities, it must necessarily be shared with others in the organization to extract the value in the information. GPT can directly assist with this activity by, for example, writing follow-up emails or turning messy notes into fluent text.
Reduce waste(d time and energy)
Reducing waste plays a big role in minimizing costs, which in turn improves the bottom line. By automating functions that do not directly add value to the customer experience, such as administrative tasks, GPT can free up employees to focus on more meaningful work like building relationships, understanding customers’ needs, and developing solutions.
Provide more value to customers and improve customer experience
GPT will free up employees’ time and increase an organization’s shared knowledge of its customers, enabling businesses to deliver more value to their customers faster. Teammates will develop focused solutions more quickly and increase the amount of time spent building trust and managing relationships. When employees spend more time on these supremely important business functions, customers will have a better experience, be more likely to recommend products/services, and cause business revenues to grow.
Conclusion: GPT can propel your business forward
In conclusion, the use of large language models like GPT can bring significant benefits to modern enterprises by acting as a cognitive assistant that helps to capture and operationalize data, facilitate shared learning about customers’ needs, reduce waste, and deliver a better customer experience through providing more value. However, it’s important for companies to consider the limitations and ethical concerns surrounding the use of GPT and make informed decisions about how to best utilize this technology.
- To read continuing information about GPT, AI, and their ethical applications (along with other technology news), sign up for our newsletter by entering your email at the top right of this post.
- For guidance and technical expertise on using GPT to grow your business, start a conversation with the Head of our Innovation Lab, [email protected].
- To get started with deploying a GPT-based application for free, check out our MeetingMiner solution on GitHub.
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