Late last year, OpenAI launched ChatGPT, an AI chatbot. And the entire world quickly took notice.
Within days of launch, ChatGPT had one million users. And in January, it reached 100 million active users, making it the “fastest-growing consumer application in history.” For the sake of comparison, it took TikTok nine months to reach 100 million users. For Instagram, it took 2.5 years.
ChatGPT isn’t the only player in the AI chatbot field. In early February, Google announced a very limited release of Bard, the company’s experimental conversational AI service. And there’s no doubt others will follow.
In this blog, we’ll take a closer look at what these generative AI technologies are – and the opportunities they present for consumers and brands alike.
ChatGPT and Bard: Changing the Chatbot Game
In the recent past, chatbots got a bad rap. And for good reason. Oftentimes, chatbots were tough to develop and deploy. And, they delivered less-than-stellar experiences that often left consumers feeling frustrated.
Generative AI tools ChatGPT and Bard are set to change the game.
According to Gartner, generative AI “creates original artifacts or reconstructed content and data.” Oftentimes, it’s nearly impossible to differentiate this content from that created by humans.
There are a number of industries that are tapping into generative AI. And there are myriad generative AI tools across different industries. But ChatGPT and Bard are two that are gaining a whole lot of attention.
What is ChatGPT?
In November 2022, OpenAI, an artificial research and deployment company, launched ChatGPT.
Ask ChatGPT what it is and this is what it’ll tell you: “ChatGPT is an AI language model developed by OpenAI, which is capable of generating human-like text based on the input it is given. The model is trained on a large corpus of text data and can generate responses to questions, summarize long texts, write stories and much more. It is often used in conversational AI applications to simulate a human-like conversation with users.”
According to the company, ChatGPT is a model that’s been trained to “interact in a conversational way.” Essentially, ChatGPT is an artificial intelligence chatbot. Users pose questions, and it answers those questions.
Consumers have tapped into ChatGPT for myriad use cases ranging from practical to questionable to downright bazaar. It’s being used for everything from writing essays to composing messages for dating apps – and everything in between.
Currently, ChatGPT is free to use. However, the company recently released a paid subscription plan that offers additional benefits, including wider access during peak times and early access to new features.
ChatGPT is impressive. But it’s far from perfect. And OpenAI is well aware of its limitations. The company has plans to make regular improvements. And, their hope is that users will provide valuable feedback that they can act on to improve the tool.
What is Google’s Bard?
Earlier this year, Google announced Bard, the company’s answer to ChatGPT. Bard is an “experimental conversational AI service,” which is powered by the company’s Language Model for Dialogue Applications (LaMDA for short).
Bard will likely have similar functionality to ChatGPT. But one thing that sets it apart is that it’ll draw from all information online to provide its responses. ChatGPT, on the other hand, doesn’t have internet access.
It’s still the very early days for Bard, so we don’t have as many details and use cases. Recently, the company opened up the service to a small group of users for testing, with plans to increase availability in the coming weeks and months.
Companies are Taking Note
Clearly, ChatGP is a hit among consumers. However, many companies are also recognizing the power and potential of such a tool.
Just this week, Snapchat announced it was adding a chatbot powered by ChatGPT. And Salesforce has hinted at a ChatGPT-like tool that’ll help sellers close deals.
Generative AI is a trend brands simply can’t afford to ignore.
Generative AI: Friend or Foe?
There’s no denying the immense popularity of ChatGPT. But a quick Google search will show you that folks have mixed views about generative AI. While some see huge potential, others are focused on the downfalls.
Here at 1440, we believe that overall, ChatGPT and Bard can be useful tools for consumers and brands alike. Let’s take a look at some of the use cases we envision for AI chatbots.
Consumer Use Cases for Generative AI
Many consumers have gotten comfortable with using ChatGPT for a whole range of use cases. ChatGPT (and eventually, Bard and others) can also help consumers easily get the information they need to make informed purchase decisions.
Here are a few ways we envision consumers using ChaptGPT and Bard throughout the purchase journey.
- To get recommendations: Consumers can use ChatGPT to get personalized recommendations for products and services based on their needs and preferences. Users can describe what they are looking for and ChatGPT can provide suggestions and reviews from other customers. For example, a user might say: What should I get my dad for father’s day? He lives in Utah and loves to golf.”
- To ask questions: Consumers can use ChatGPT to ask questions about products and services, and get answers from other customers or brands. This can help them make more informed purchase decisions and overcome any doubts.
- To write reviews: Consumers can use ChatGPT to draft and refine their reviews before posting them on different platforms. ChatGPT can help them with language and tone, and provide suggestions to make their reviews more helpful to others.
Brand Use Cases for Generative AI
Modern consumers demand winning experiences. According to Salesforce research, 88% of consumers feel the experience a company offers is just as important as its products or services.
In addition, consumers weigh many factors when making purchase decisions. One of the top is feedback from other consumers, which they access by reading reviews.
Generative AI, such as ChatGPT and Bard, can be powerful tools to help brands manage reviews, improve customer experiences, and build better relationships. Here are a few of the top use cases:
- Responding to reviews: Brands can use ChatGPT to craft responses to customer reviews – regardless of sentiment. ChatGPT can help brands with language and tone, and provide suggestions on how to address specific issues raised by customers.
- Providing 24/7 support: Questions or concerns can arise at any time of day, and consumers expect fast resolutions. Consumers can pose their questions and ChatGPT can share knowledge articles that address the question or concern.
- Improving customer experiments: Brands can use ChatGPT to identify common customer issues and complaints, and use that information to make improvements to their customer service. ChatGPT can help them analyze feedback, identify patterns, and suggest ways to address issues more effectively.
- Predicting customer behavior: Brands can use ChatGPT to predict customer behavior based on their reviews and feedback. ChatGPT can help them identify customers who are likely to churn, and provide suggestions on how to retain them.
- Generating marketing content: Brands can tap into ChatGPT to help develop content – including emails and social media posts – that’ll resonate with shoppers, wherever they are on the purchase journey.
Generative AI: Another Tool in Your Brand’s Toolbox
Generative AI is evolving at a rapid pace. And a growing number of consumers are tapping into this technology.
It’s a trend you can’t afford to ignore.
Now’s the time to explore how your brand can leverage tools like ChatGPT and Bard to deliver winning experiences that attract, convert, and retain customers. With Generative AI, brands have the opportunity to gain a competitive edge by creating personalized and engaging experiences for their customers.