Tech Recipe: Growing your business with ChatGPT
ChatGPT has served over 100 million people faster than any service. Chances are you have at least heard of ChatGPT at this point, but what is it? ChatGPT is an example of generative AI that uses a Large Language Model. Generative AI means AI software that is designed to create something new by taking your prompt, or query, and the training data within the software.
“Large Language Model” refers to a method of predicting the most likely next letter or word. ChatGPT uses an LLM to create its answers. Training data is all of the input that the AI uses to build the model it uses to understand inputs and return the output.
Did you ever make a sentence diagram in grammar class? It’s an oversimplification, but the software is doing that in every possible combination to your input to determine what you’re asking.
In other words, the software takes each word in your input along with the structure of your input and makes a really good guess at what words go together and how the entire query fits together. Now that it “understands” your query, it runs that against its model and training data to find all the combinations of words and the best way those words fit together.
AI trained on lots of quality, human generated data like books and articles will create quality output. While generative AI might be able to write a term paper, or even a blog post for you, it doesn’t know everything. It can be factually incorrect and it’s up to you, the human, to verify.
Additionally, no AI released today meets the bar for “Artificial General Intelligence” or AGI. One of the criteria for intelligence is to use reason or logic to work through uncertainty and develop a plan or solution. Humans deal with this type of uncertainty all the time. The AI of today (and the near future) can’t.
It’s still very useful and very powerful. So let’s talk about how to get the most out of it.
Let’s pretend we inherited Bluth’s Original Frozen Banana shop. We know where it is and what it sells, but we want to grow the business. We could read some business books, hire some market research firms, ask our friends, or even hire business consultants, but let's see howChatGPT can help. AI can’t run your business for you, but it can be a fantastic resource!
In this recipe we’re going to focus on ChatGPT which you can access here. Let’s start cooking.
Off the bat we know we need to get more customers to the banana stand. ChatGPT has a few answers:
We can ask it to create content for any of these ads, for our example I went with Google Ads:
Our banana stand is cash only, and we want to accept credit cards.
We can ask ChatGPT how to accept credit cards:
We don’t have a phone line nor internet at the banana stand. If we give ChatGPT this context it provides a more detailed answer:
You can continue to follow up with ChatGPT to ask about features or pricing, you can even have it make a table for you:
Advertising and credit cards are challenges that we identified. We can ask ChatGPT what it would do:
What ideas do you have for the banana stand?