Business Usecases of GPT

Business-Usecases-of-GPT

Introduction

You will not lose your job because of AI, but you may lose it because you didn’t learn how to use AI in your job.

Artificial Intelligence (AI) has become increasingly prevalent in the modern workplace, and one of the most promising applications of AI is the use of Generative Pre-trained Transformer (GPT) models. GPT is a type of deep learning model that is capable of generating human-like text based on a given prompt. It has been used in a wide range of applications, from language translation and sentiment analysis to chatbots and content generation.

One of the main advantages of using GPT in the workplace is its ability to automate repetitive tasks that would otherwise be time-consuming for humans. For example, GPT can be used to automatically generate reports, emails, and other types of written content, freeing up employees to focus on more high-value tasks.

Another advantage of GPT is its ability to analyze large amounts of data and provide insights that would be difficult for humans to uncover on their own. GPT can be trained on vast amounts of data, allowing it to identify patterns and correlations that would be difficult for humans to discern.

Here are few inspirations from different organizations how they are using GPT in their business.

Morgan Stanley (BFSI)

• A leader in wealth management, Morgan Stanley maintains a content library with hundreds of thousands of pages of knowledge and insights spanning investment strategies, market research and commentary, and analyst insights. This vast amount of information is housed across many internal sites, largely in PDF form, requiring advisors to scan through a great deal of information to find answers to specific questions. Such searches can be time-consuming and cumbersome.
• Morgan Stanley harness its intellectual capital with GPT’s embeddings and retrieval capabilities
• The company was founded almost 100 years ago and publishes thousands of papers annually covering insights on capital markets, asset classes, industry analysis, and economic regions around the globe.
• They trained GPT-4 to make the internal chatbot.

Be-my-eyes

Be-my-eyes is Image-to-text object recognition tool

• Blind and low vision community will utilize their tools not only for a host of visual interpretation needs, but also to have a greater degree of independence in their lives.
• GPT-4 technology not only recognizes and names what’s in there in refrigirater, but extrapolates and analyzes what you can make with those ingredients.
• A user was able to navigate the railway system—arguably an impossible task for the sighted as well—not only getting details about where they were located on a map, but point-by-point instructions on how to safely reach where they wanted to go.
• Yet traversing the complicated physical world is only half the story. Understanding what’s on a screen can be twice as arduous for a person who isn’t sighted. Screen readers, embedded in most modern operating systems, read through the pieces of a web page or desktop application line by line, section by section, speaking each word

Stripe (BFSI)

• Stipe asked 100 employees to do something highly unusual: stop their day jobs and instead, dream up features and functionality for the payment platform using the newest generation of OpenAI’s language learning model, GPT-4
• Engineers from teams spanning support, onboarding, risk, and docs considered where Stripe could use artificial intelligence that understands free-form text and images and builds human-like responses
• Stripe tries to understand exactly how each business uses the platform and customizes support accordingly.
• Many businesses, such as nightclubs, keep their websites sparse and mysterious so it can take a great deal of searching and clicking to understand what’s going on. Now, Stripe uses GPT-4 to scan these sites and deliver a summary, which outperforms those written by people.

Khanacademy (EduTech)

• AI-powered assistant that functions as both a virtual tutor for students and a classroom assistant for teachers.
• To think about questions like, ‘Why did you answer that way? Why do you think that’s true? What would happen if—?

Duolingo (Language Edu)

Duolingo is teaching 100+ different language to people across the world.

• Learners advance from simple vocabulary exercises to complicated sentence structures with taps and swipes on their phone.
• Previously, Duolingo attempted to “chat” with learners through scripted conversations incorporating classic scenarios like ordering food, meeting someone for the first time, or buying a plane ticket. But Bodge says what Duolingo needed was the ability to converse with learners in niche contexts and “immersively”

Yabble (BI)

Yabble is AI-powered insights for smarter, quicker business strategy tool.

• Yabble equips its users with vital customer insights to inform their business strategy.
• Actionable insights—whether they help identify a new product to launch, upgrade existing services, or understand what customers are loving (or not loving) about a product.
• Yabble created a platform where organizations could easily analyze thousands of customer data points shared through surveys or customer feedback forms, and pull together clear, data-backed insights

Inworld AI (Media & Entertainment)

• Inworld is making this next generation of characters more engaging.
• Inworld was able to build out differentiated aspects of characters’ personalities including emotions, memory, and behaviors.
• The rich characters who players befriend or battle are only as complex as the scripts created for them.
• Using Inworld, creators can bring a non-playable character to life in minutes, commonly known as a NPC, using natural language to describe the character’s personality. They can also tailor elements of cognition and behavior, including the character’s goals, motivations, manners of speech, memories, and even voice.

Government of Iceland

• Icelanders cherish their language for its rich cultural heritage and connection to the nation’s identity.

• The country’s government maintains a Language Planning Department that coins Icelandic terms for new ideas, rather than adopting so-called “loanwords” from other languages. A computer, for instance, is a tölva (“number prophetess”). Through these efforts, the language preserves its distinctive character and remains closely connected to its Old Norse roots.

• In a process called Reinforcement Learning from Human Feedback, or RLHF, human testers give GPT-4 a prompt, and four possible completions are generated.
• Testers then select the best answer from the four responses and edit it to create an ideal completion. The data from this process is then used to further train GPT-4 to produce better responses in the future.
• Prior to RLHF, the process of fine-tuning a model was labor and data-intensive. Þorsteinsson’s team attempted to fine-tune a GPT-3 model with 300,000 Icelandic language examples, but the results were disappointing.

Waymark

• Waymark was perfecting their easy-to-use video creation platform. GPT-3 helped them consistently produce stronger, more relevant scripts.
• Waymark has established itself as the leading platform to create TV commercials and digital video ads—one of the most powerful ways for businesses to introduce their products, services, and events.
• With an extensive library of professionally-produced templates that anyone can edit, regardless of technical background, Waymark reduces the barriers that prevent so many would-be advertisers from launching successful video campaigns.
• Waymark made video creation accessible and easy for anyone, their product research showed that two out of three people still struggled with what to say in those videos.
• Their copywriters had created industry-based video scripts for top industries, but they often proved too vague and required a lot of customer input. Waymark started to solve this problem with a proprietary script-writing feature, but the results were still too generic for many businesses. As Waymark’s business grew and their customer base diversified, the challenge only grew more complex.
• Our power users were spending too much time editing scripts, and other users would simply give up altogether.

MakemyTrip

• MakeMyTrip is introducing voice-assisted booking in Indian languages. The feature has been embedded into the landing page of the platform and has to be activated before use. For this, MakeMyTrip is adopting ChatGPT-like generative AI, for which it has collaborated with Microsoft.
• GPT technology, will analyse specific user requirements and sift through thousands of options, to recommend, customize and book holiday packages

Koo - (India’s rival to Twitter)

• Integrated ChatPT on the platform to assist users in creating posts in different languages.
• Using ChatGPT internally, mostly on the back-end to “deeply integrate” some engineering practices
• GPT will help in making things faster at a lower cost

Plum (Employee health insurance)

• Rolled out ‘PolicyGPT’, an AI chatbot built atop OpenAI’s GPT-3.5 API.
• It helps clients in getting a faster resolution for policy-related queries, eliminating the need for a customer service team.
• The company still has a smaller team of human agents for due diligence as the application is only 96.3 per cent accurate at the moment.

Securnonix

• Employing generative AI technologies like ChatGPT, as they can cut down on not just employee pay-cheques but also office space, transportation and social security benefits.

Other Powerful Applications

In General Other companies can use GPT for usecases like

1. Idea Generation and Brainstorming
2. Simplifying long, complex documents
3. Simplifying complex ideas.
4. Enhance customer service, human like engagement.
5. Optimising Organizations’s Internal communcation. Lessor email, messages.
6. Optimising organization’s knowledge base.
7. Creating personalise content for customer/readers.
8. Market research and competetion analysis
9. Training and Development
10. Along with Wishper and DALL-E GPT can create multi-modal user interface to communicate with human.

Conclusion

This article discusses the various ways in which businesses are utilizing GPT technology in their day-to-day operations. GPT is capable of generating human-like text based on a given prompt. It has several advantages, including automating repetitive tasks, analyzing large amounts of data, and providing insights that would be difficult for humans to uncover on their own. The article provides examples of organizations, such as Morgan Stanley, Stripe, Be-my-eyes, and others, who are using GPT to automate tasks, enhance customer support, and provide personalized and immersive learning experiences to their users. The potential of GPT in enhancing business efficiency, improving customer experience, and driving innovation is evident from these examples, and more organizations are likely to adopt this technology to stay competitive.

If you have any other real-life business story where a business has used GPT to transform their services or add new services, then you can share it with me at hari.prasad@vedavit-ps.com. If I get some interesting applications, I will consider updating this article.