Organizations are always looking for better ways to improve their efficiency, productivity and value for customers. The evolution of Artificial Intelligence (AI) can play a role in improving business growth, but many are hesitant to adopt these technological tools. In this blog, I will be exploring the use of advanced AI systems such as ChatGPT and how they can be beneficial to organisations.
I started by asking a question to ChatGPT that was pertinent to the topic at hand. ChatGPT provided a valuable insight, leading me to further investigate the claim that generative AI can increase business efficiency. However, like with many technologies, the limitations of AI should be kept in mind when considering its effectiveness. Through utilising methodical data sets, AI can predict sequences of words, relative to the context, but failing to properly manage the output can lead to information that is fabricated. Therefore, it is essential to ensure that all AI-driven answers should be fact-checked with human expertise.
NTT, a leading technology enterprise, is using AI to analyze and assist in the decision-making process of their executives and clients. By partnering with SparkBeyond, an AI-driven technology provider, NTT has access to the sophisticated data analysis tool that can identify both external, publicly available data and internal data specific to the organisation. This helps to identify data trends using publicly available insights as well as granular insights from the enterprise’s data that are not visible to AI tools.
NTT have also adopted the Open AI’s GPT-4 model and ChatGPT to help gauge market changes over the past two years. Utilizing these AI systems means that NTT is able to better understand the industries and markets in which they are based, as well as their clients wants and needs. In doing so, they can optimize their services, be better equipped to make informed decisions, and more easily provide value to their clients.
Having an AI system in place can also save money and time. However, a lack of understanding of the ethical and legal factors of AI can lead to costly mistakes. In addition to this, it is important to remember that AI is not capable of replacing human intelligence altogether. Even with the support of expert humans, at the end of the day, AI still needs to be framed in the correct context for it to effectively work or provide satisfactory results.
To summarise, AI systems such as ChatGPT can help organisations be more efficient and cost-effective, but you need to take into account the limitations of these tools. Working with a managed service provider, like NTT, with lots of experience in AI-integration can provide the best of both worlds – highly valuable insights both from external and internal data sources. Finally, expert humans should be involved to better understand the data, frame it in the right context, and ensure that it is compliant with ethical, legal, and compliance considerations.
