ChatGPT: The Disruptive Force in Business Strategy

0:00ChatGPT is incredibly powerful and it has the ability to disrupt a lot of industries. So today on the podcast, we are specifically going to talk about how ChatGPT is going to disrupt business. We're going to talk about some different industries, jobs, and tasks that can now be automated, and really what this is going to look like from a macro level on all of the different areas within business that ChatGPT is specifically going to disrupt. So without further ado, let's dive into it. the first area that I have kind of looked into a bit that I really think ChatGPT is going to have some major implications is within sales.

0:37ChatGPT can automate your sales tasks like lead generation and customer outreach and also by analyzing customer data and behavior it's really good at identifying potential leads and it will have the ability to reach out to them with personalized messages. This is crazy. And of course, you know, as its own standalone app, this thing isn't just automatically, you know, outreaching people and internalizing data. So you need a person that can feed it certain amounts of data, ask it certain questions, get certain custom things, or people most likely are going to take this technology, integrate it into current technology stacks, and use it as kind of the engine for making a lot of these decisions.

1:19So this is going to help businesses a lot increase their sales and revenue while also helping them to just reduce the overall time and resources they have to spend on sales and marketing. Another area that people have already started to use this with is customer service. Because of the way the chat is really good at taking in questions and giving good responses, you're able to pretty much train chat GPT or pretty much write extensive prompts explaining what your common problems are that your customer service reps face right so you could just go and ask your customer service reps to create a document or a spreadsheet of the 100 most commonly common problems they have to solve and what the solutions are feed that to chat gpt and all of a sudden you have this super robust kind of chat bot that's able to help people problem solve and then also you know if it's unable to do that it can forward it off to a human so it doesn't really replace humans But it really can automate a huge portion of what a human does pretty much 10x in their productivity Another area is content creation.

2:23I think every business owner and business has seen this right now Chatshap's ability to create content of every type blog posts articles product descriptions Copy for your website just all content right like video Video scripts everything so this is gonna be pretty massive for content creation and then also that leads into other AI tools that you know you could use you know Chai Chupiti to write the script for a video then you could use another AI to read the script for your video so you know it really can go pretty in depth on what Chai Chupiti but also AI does. Another area for business that is going to be absolutely massive is data analysis.

3:05So Chai Chupiti can analyze massive amounts of data and generate really good insights that can help businesses make informed decisions. So by processing data from various sources, including customer feedback, sales data, social media interactions, ChatGPT can actually provide insights into customer behavior, market trends, and business performance. This is going to help businesses to improve their products and services, optimize their marketing strategies, and just overall, I think it's going to really help them just increase revenue. So this is a massive area. And like I said, you know, like, Obviously, you can't just give ChatGPT access to millions of, you know, millions of gigabytes of data from your company.

3:45But what you can do is have a human segment out like a big data set of some sort of specific results, give it to ChatGPT and ask it to like crunch the numbers pretty much and give you what an analyst typically would do, feedback on what you should do based on those numbers. And I think that's going to be really powerful. So again, does it replace the analyst because the analyst has to go and find the data set and feed it and ask the question, but it's going to be able to make it their job 10 times faster. So pretty much 10xing a data analyst's job. Another area is just in education overall. ChatGPT is literally going to revolutionize the education industry, which is a massive business, and it's going to automate tasks like grading, providing feedback, answering student questions.

4:30I've already talked to teachers that are telling me when they have to go and give feedback on, you know, a hundred students responses they're just throwing their essays into chat gpt and asking it to give a positive feedback that shows that they read it and love it or hate it teachers are using it so it's also kind of brings up the question of you know like how are students going to use it but that's a whole other can of worms for another time and overall though it's really going to help to automate a lot of tasks make them a lot more efficient and so i think it's going to be massive in education, whether we like it or not.

5:04Another area is legal. This is controversial, right? Lawyers absolutely hate this. There was a company called Do Not Pay. And essentially what it did was it was going to have someone go into the courtroom for their hearing for a traffic ticket and put a little earpiece in where everything that they said was fed into ChatGPT and asked for a good response. And then they were going to say the response back and they were going to do some tests to see like how effective this was at getting them out of the ticket and when the lawyers lawyers got really up in arms about this and they finally tracked down and figured out who was going to be doing this uh test and experiment and they threatened them with jail time they said we're going to sue you and put you in jail if you do this blah blah blah because of course that uh kills their job if you don't need a lawyer to represent you in those situations if chadjibatine becomes your lawyer and of course i mean in my opinion you're fronting all the risk of if that works or doesn't work what you say um so anyways they threatened the person with jail time they backed out of it i'm not sure exactly where it's uh where it's at now but as you can see like lawyers will sue people will rage things will happen but at the end of the day if there's a powerful technology that can do something faster and cheaper like inevitably it will get implemented um so i don't actually see a version of history where chat gpt and these ai technologies don't crack into the legal field.

6:24Maybe it's as soon as lawyers find out they can make money off of them and implement them, they're going to embrace them instead of fighting them. Inevitably, if it does the job faster and cheaper, it's going to get implemented. Another area is healthcare. ChatGPT is good at automating healthcare tasks like patient triage, diagnosis, and treatment recommendations. Now, of course, that sounds very sketchy, right? Getting ChatGPT to diagnose you for diseases and taking that seriously. What I actually think that this is going to be used for, number one, maybe not necessarily ChatGPT, probably a more specialized trained bot, but Stanford made one called PubMed GPT, trained it on a whole bunch of medical journals, and it was actually really good at diagnosing.

7:04So whether they do that or ChatGPT integrates more specialized models and training and fine tuning specifically in healthcare, I really do think that eventually this is going to be a massive breakthrough as far as kind of of cutting down the cost, and it's not going to replace a doctor because, you know, you're going to go get diagnosed by chat GPT or whatever, a PubMed GPT. You'll take that to your doctor, and they'll look at it. They'll look at your symptoms. They'll look at that, and they'll be able to use that as like a starting point. I've also seen that with x-rays where they'll give you an x-ray.

7:35They'll send it to an AI. The AI will go and detect areas that it thinks are of concern, sends it to the doctor. The doctor looks at it, whether or the dentist looks at it to to identify cavities or a doctor looks at it to identify abnormalities in your body. And it's kind of like a good starting point and make sure that they don't actually miss anything. So yeah, I think this is gonna be massive for healthcare in so many different ways. Another area that is going to be very revolutionized is finance. ChatGPT can automate a lot of financial tasks like investing analysis, portfolio management, and fraud detection.

8:07So by analyzing financial data and providing insights into market trends and investment opportunities chat gpt is going to help a lot of investors make more informed decisions and i think this is actually going to improve their financial performance now of course this is not financial advice i'm not going to tell you to go and ask chat gpt to make all of your life decisions and i'm sure chat gpt is going to have disclaimers what if people do but i do think that this is actually going to help um financial institutions as well as people. Inevitably, your financial advisor is probably going to use tools like this, similar AI tools to calculate things and make informed decisions.

8:46And I think a lot of people are going to do that as well. So in conclusion, wrapping up this podcast episode, I think ChatGPT has some massive potential to really disrupt business across a huge variety of industries. It's going to automate a ton of tasks. It's going to improve customer interaction. It's going to streamline business processes. And so with its natural language processing capabilities, just because it has the ability to really generate human-like responses, I think that it's going to automate a ton of different tasks and functions. And that's like including everything we talked about today, you know, customer service, content creation, data analysis, sales, legal, healthcare, all these different areas.

9:27And while some might actually fear all of this disruption, I really believe it's going to make us 10 times more productive. And I believe that technological disruption and these massive paradigm shifts we see, that they come out every 10 years or so, they really do a massive job at raising the global standard of living. So I, for one, am very excited for this. I'm excited for all the tools and productivity increases we're going to see in our lifetime. And I think that it will have some massive positive effects on society.