{"id":157634,"date":"2023-02-11T08:36:25","date_gmt":"2023-02-11T14:36:25","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2023\/02\/what-does-chatgpt-really-mean-for-businesses"},"modified":"2023-02-11T08:36:25","modified_gmt":"2023-02-11T14:36:25","slug":"what-does-chatgpt-really-mean-for-businesses","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2023\/02\/what-does-chatgpt-really-mean-for-businesses","title":{"rendered":"What Does ChatGPT Really Mean For Businesses?"},"content":{"rendered":"

<\/a><\/p>\n

If your work involves analyzing and reporting on data, then it\u2019s understandable that you might feel a bit concerned by the rapid advances being made by artificial intelligence (AI). In particular, the viral ChatGPT<\/a> app has captured the imagination of the general public in recent months, acting as a powerful demonstration of what AI is already capable of. For some, it may also seem like a warning about what might be in store for the future.<\/p>\n

Undoubtedly, one of the strengths of AI is its ability to make sense of large amounts of data \u2013 searching out patterns and putting it into reports, documents, and formats that humans can easily understand. This is the day-to-day \u201cbread and butter\u201d of data analysts as well as many other knowledge economy professionals whose work involves working with data and analytics.<\/p>\n

It\u2019s true that artificial intelligence \u2013 a term that generally, in business and industry, refers to machine learning \u2013 has been used for years in these fields. What ChatGPT and similar tools built on large language models (LLM) and natural language processing (NLP) bring to the table is that it can be easily and effectively used by anybody. If a CEO can simply say to a computer, \u201cwhat do I need to do to improve customer satisfaction?\u201d or \u201chow can I make more sales?\u201d do they need to worry about hiring, training, and maintaining an expensive analytics team to answer those questions?<\/p>\n

Well, fortunately, the answer probably, is yes. In fact, as AI becomes more accessible and mainstream, that team may well become even more critical to the business than it already is. What is beyond doubt, though, is that their jobs will substantially change. So, here\u2019s my rundown of how this technology may affect the field of data and analytics as it becomes mainstream in the near future.<\/p>\n

Firstly, what are ChatGPT, LLMs, and NLP?<\/p>\n

ChatGPT is a publicly-available conversational (or chatbot) interface powered by a LLM called GPT-3, developed by the research institute OpenAI. The LLM (Large Language Model) is part of a field of machine learning known as natural language processing<\/a>, which essentially means that it enables us to talk to machines, and for them to reply to us in \u201cnatural\u201d (i.e., human) languages. In short, this means that we can ask it a question in English, or in fact, one of almost 100<\/a> languages. It can also read, understand and generate computer code in a number of popular programming languages, including Python, Javascript, and C++. We\u2019ve gotten used to interacting with NLP technology for some time now thanks largely to AI assistants like Alexa and Siri, but the LLM powering GPT-3 and ChatGPT is orders of magnitude larger, enabling it to understand far more complex inputs and provide far more sophisticated outputs.<\/p>\n","protected":false},"excerpt":{"rendered":"

If your work involves analyzing and reporting on data, then it\u2019s understandable that you might feel a bit concerned by the rapid advances being made by artificial intelligence (AI). In particular, the viral ChatGPT app has captured the imagination of the general public in recent months, acting as a powerful demonstration of what AI is [\u2026]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43,39,6],"tags":[],"class_list":["post-157634","post","type-post","status-publish","format-standard","hentry","category-business","category-economics","category-robotics-ai"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/157634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=157634"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/157634\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=157634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=157634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=157634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}