Since launching its state-of-the-art AI chatbot, ChatGPT, in November 2022, millions of people have been taking advantage of its efficient and articulate responses across many domains. Translation: chatbots are transforming how we work. But does ChatGPT have a viable business case?
Business News Wales spoke to Brian Sathianathan, the Co-Founder, Chief Vigil Officer, and Chief Technology Officer at Iterate.ai, an American low code software developer and AI-powered ecosystem. Iterate.ai offers enterprise innovators a platform to develop, deploy and accelerate their AI, IoT, and Big Data projects. This innovative platform has been used at scale with multiple global enterprises, such as Circle-K, Pampered Chef, Driven Brands, Jockey, and Ulta Beauty. This US-based company has achieved more than 10 pending patents and continues to spread across North America (in Silicon Valley and Colorado), Europe, and Asia (in India). In discussion with Business News Wales, Brian Sathianathan discussed the business case of ChatGPT.
ChatGPT can be used within a variety of applications and makes general tasks like research, communication, and analysis much easier. Thanks to its capacity for human-like conversations and its ability to understand responses and queries, ChatGPT is seen as a promising AI tool for enterprises. The benefits are noticeable in terms of cost savings, innovation speed and user experience. It can be used to automate generally time-consuming tasks, in turn helping businesses improve their efficiency and save money. At the same time, AI tools can easily outsmart human competition, which bolsters leading enterprises’ competitive advantage.
Ultimately, the development of ChatGPT displays that the potential of AI-powered solutions in enterprises is enormous. Through its ability to accelerate innovation and knowledge transformation in a digital world, ChatGPT has proven to have a viable business case. It remains to be seen how ChatGPT and other AI solutions bear out in the marketplace.
