ChatGPT and generative AI: a revolution in business

Published on 21/11/2023 in Solution news

Generative AI is knocking on your company's door. ChatGPT changes pretty much everything. It took ChatGPT just two months to reach 100 million users. Here is why you need to integrate it into your business as quickly as possible.

ChatGPT and generative AI: a revolution in business

What is generative AI?

Generative AI is a sub-field of Artificial Intelligence within Deep Learning (machines that use deep neurons to perform complex tasks). That, in turn, is part of Machine Learning (machines that learn from data). Generative AI, on the other hand, generates content from vast sets of existing data.

“It is a form of AI that can generate texts, summarize them, manipulate an image, or even help with programming," Sandro Manzo, Artificial Intelligence Lead at Proximus. Generative AI tools include ChatGPT, DeepArt (creates works of art from photos), DALL-E (generates images from text descriptions), and Jukebox (creates music).

Boost your business

Generative AI clearly offers a number of advantages for business in general, including:

  • Content generation and automation.
  • Personalization, enabling companies to tailor their products and services to the individual preferences of different customers.
  • Analyzing huge amounts of data. From this, AI can extract information, identify trends, patterns and anomalies that are sometimes imperceptible to the human eye.
  • Risk management and fraud detection. AI predicts potential risks, identifies early warning signals, and detects fraud.
  • Reducing costs by automating various tasks and processes. That means that AI reduces operational costs. It can also optimize resource allocation, reduce manual work, and improve overall efficiency.
  • Market intelligence: AI has a keen eye for market trends, consumer sentiment, and competitor activity.
  • Product design and prototyping: AI comes up with design options, carries out simulations, and optimizes product characteristics.

Unrivaled potential

"According to a recent McKinsey study, four main areas could capture 75% of the value generated by this technology."

  1. Sales, with help tools capable of providing instant answers to customers, personalized product recommendations, and even simulations to visualize purchases.
  2. Marketing where generative AI can revolutionize your strategy by creating content, personalizing your ads, segmenting your target audience, and analyzing your marketing data which results in a better understanding of your audience and more effective advertising campaigns.
  3. Customer operations, thanks to chatbots, automated support systems and real-time information 24/7. That means that chatbots like these can free up human agents for more complex problems.
  4. The R&D sector where innovation is stimulated by simulating scenarios, generating synthetic data for testing, exploring new ideas, and even automating stages of research.

Beware of obstacles

AI can also be daunting. This is mainly due to a need for qualified experts. “You can't do machine learning or natural language processing without proper recruitment and training.” Generative AI models can also sometimes create undesirable or sensitive data. “That is why ensuring data quality and security is so important.” Identifying the relevant use cases within your business can be challenging. Not to mention the fact that AI can disrupt existing corporate culture, requires powerful IT resources, and necessitates an adaptable infrastructure.

Some inspiration

Proximus has been one of the pioneers when it comes to adopting generative AI. The company has already developed over a hundred use cases. Here are five of them:

1. ChatGPT Portal

Available to all employees, this portal gives access to ChatGPT functions via the company's corporate portal, without having to create a specific account. The portal guarantees user data security and confidentiality as, unlike the public version, this data will not be used to train the model.

2. Writing Assistant

Designed for call center agents, this writing assistant uses AI to improve the quality of communications (corrections, translations, or understanding of customer requests). High-quality exchanges are guaranteed! It can also be used to fuel a personalized coaching or skills development program.

3. Interactive FAQ

Proximus’ FAQ is constantly being used. Improving the relevance of searches has had an impact on the volume of calls to its contact center. AI is faster than a human at understanding spelling mistakes, learning new synonyms, or understanding customer intent.

Read more about this use case

4. HR Chatbot - YODA:

Since its launch in 2020, YODA, the digital assistant for human resources, has become the largest HR bot in the Benelux region. It reduces the number of questions sent to the HR department by 25%. Thanks to the integration of generative AI, YODA will benefit from constant updates to adapt to changes in language and new HR trends.

5. Matching & Classification:

This system relies on generative AI to ensure accurate classification and is used for sorting and classifying large quantities of information.

Watch the webinar ‘Is Generative AI also knocking on your company’s door?’

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