FD Megan Pydigadu: AI’s potential for business efficiency highlighted by ChatGPT

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Megan reveals the potential of ChatGPT, and how it can help businesses navigate the new future.

ChatGPT has brought the possibilities of AI into the public arena and fired up the imagination of the world in doing so. “It is an exciting proposition of the potential of what AI may be able to do in the future,” says EOH group FD Megan Pydigadu.

She explains that, while it is still largely focused on word and natural language content, if you could take it and overlay it in large, structured data fields, the opportunities and efficiencies for business could be significant.

“The technology’s natural language understanding and ability to quickly generate content has made it one of the fastest adopted technologies ever, offering businesses the possibility of doing some of their manual and repetitive tasks much faster, saving costs and improving efficiencies,” she adds.

Megan explains that the generative AI can offer shortcuts, especially in the areas of large text analysis, data capture, idea generation, marketing and even IT development services. “As an organisation, we offer training and assistance in using ChatGPT most effectively, and where the tech has sparked businesses’ interest in AI in general, our data division can train machine learning models to deliver results and insight that cater to their specific business needs.”

EOH can also help to build and improve chatbots by linking them to natural language AI application programming interfaces (APIs).

“However, I must highlight that ChaptGPT’s responses are based on pattern recognition,” Megan cautions. “This means that, while it provides answers that sound convincing, they are not necessarily accurate. One can often spend more time on validating information than doing the work manually to begin with.”

She adds that ChatGPT is also only as good as the prompts you give it. “If you don’t specify the audience, goals or full parameters, you will get limited results.”

That said, ChatGPT is only one of a vast pool of AI resources available, and specialist AI models and programmes should be used for specialist tasks and industries.

“ChatGPT is not going to replace the workforce, but as the technology improves, it, and similar tools, will vastly improve the efficiency of business,” Megan concludes.

This article was NOT written by ChatGPT.

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