Released by OpenAI in November 2022, ChatGPT is a popular AI (Artificial Intelligence) chatbot and natural processing language model that understands human language and generates text.
ChatGPT is currently a trending topic and has aroused massive interest in the tech industry. In just 5 days, it garnered a million users, a record that is unmatched when compared to platforms such as Facebook, Instagram, or even Netflix.
ChatGPT is trained on a large amount of data that could be anything ranging from programming code to articles to books and so much more. You can think of it as a huge repository of information in a diverse range of fields and disciplines.
Using the data, ChatGPT learns relationships and patterns between words and sentences, which makes it possible to generate coherent, error-free human-like text in response to any query posed.
This article explores some of the best AI (Artificial Intelligence) business ideas you can start with ChatGPT.
1. Automated Customer Service
For a while now, chatbots have been at the center of helping customer service teams automate customer support operations. With the advent of AI technologies such as ChatGPT, businesses will further streamline customer service functions.
Businesses will now be able to process consumer data faster and with a higher degree of accuracy, to the benefit of both the business and customers. This greatly helps in maximizing time and efficiency.
2. Language Translation
If you are running a language translation business ChatGPT will be the go-to AI tool. ChatGPT can be used to develop a real-time language translation service. It delivers crisp and accurate information by leveraging machine learning algorithms.
And since ChatGPT is trained on massive datasets, it can deliver better and more accurate translations than the available methods in the market.
Given its phenomenal capabilities, ChatGPT will certainly be a game changer in language translation services.
3. Virtual Writing Assistance
The introduction of chatbots back in the 1960s has revolutionized the way businesses offer assistance to customers. Chatbots help improve workflows and efficiency by answering repetitive questions in a timely and accurate manner.
This eases the burden of customer service agents and allows them the time to work on other queries that require a more personalized and human touch.
Virtual assistance tools have become much faster, more accurate, and more engaging. Perfect examples include Google Assistant, Alexa, and Siri which is native to Apple devices.
ChatGPT will bring further advancements into the world of Virtual assistance with its powerful algorithms and advanced language processing which will make 2-way communication more interactive.
4. Content Development
ChatGPT is an extremely valuable and powerful tool in content generation. It can generate grammatically correct, coherent, and compelling content. In fact, AI content replaces human content writing and this has caused consternation among copywriters and content creators.
We asked ChatGPT to generate a social media ad about sunglasses and this is what it churned out.
Sure, it can help with generating advertisements, cover letters, emails, etc. But here’s a catch.
AI-generated content is not always factual and sometimes churns out mechanical and detached content which makes perfect sense since the writing is generated by a chatbot.
So, while it can create accurate and convincing content, sometimes the writing is devoid of the human touch and creativity required in writing good copy. Instead, you can use the generated content as a reference instead of entirely relying on it.
5. Code Generation
ChatGPT is an excellent tool for generating and debugging code in almost any programming language. For example, we asked ChatGPT to generate Java code that accepts the input of two numbers and sums them up.
Here is what it generated.
As such it can be used by organizations to identify bugs and fix codes in record time.
6. Education Technology (Ed Tech)
Modern classrooms have moved from old-fashioned and bulky desktop computers to embracing cutting-edge gadgets such as laptops, tablets, and interactive courses to provide more interactive and engaging learning experiences.
Ed Tech, an abbreviation for educational technology is the combined use of technological learning tools and classroom theory to provide a more engaging and collaborative learning experience.
Over the years, computer-aided learning has grown exponentially and schools have become more reliant on technology in delivering lessons to their students. By leveraging ChatGPT, institutions can meet the ever-growing classroom demands and help solve problems.
This is an area in ChatGPT that can have an enormous impact given its remarkable problem-solving acumen and content delivery
This is by no means a complete list of all the AI businesses you can consider starting with the help of ChatGPT. But it’s evident that ChatGPT can easily fit into almost every technologically-driven field (which is essentially almost every field nowadays).
There’s no doubt as to the massive potential that ChatGPT can have in taking your AI business to the next level.