On November 30, 2022, OpenAI released ChatGPT to the public, potentially changing customer service forever. Almost anyone can now log in and test it themselves. In the first five days after launch, ChatGPT hit 1 million users, according to OpenAI CEO Sam Altman. And according to Barron’s, OpenAI is already in talks with investors to sell shares valued at $29 billion.
What is ChatGPT?
Here are the main things you should know:
- ChatGPT is a prototype AI-powered chatbot that has created a lot of buzz due to its highly human-like, personalized, and detailed answers.
- GPT stands for “Generative Pre-trained Transformer.”
- According to OpenAI, “ChatGPT can answer follow-up questions, admit its mistakes, challenge incorrect premises, and reject inappropriate requests.”
- While it’s still in the research phase, users can sign up and test it free of charge.
- ChatGPT uses GPT-3.5 language technology, an advanced version of GPT-3, which Wikipedia describes as “an autoregressive language model that uses deep learning to produce human-like text. Given an initial text as prompt, it will produce text that continues the prompt.”
ChatGPT claims that GPT-3 “has been trained on a massive amount of data, making it one of the most powerful language models currently available.”
Simply put, ChatGPT is a really smart chatbot with good contextual understanding that can answer tons of questions while sounding like a human.
GPT-3.5 and Customer Service
The main benefits of this new language model are that it can handle a wide range of language tasks and be fine-tuned to specific tasks, making it a versatile tool for developers..
Here are a few examples of how to apply GPT-3.5:
- Generate personalized responses to common customer inquiries, such as questions about working hours, product availability, or shipping times. This could save a Customer Service team time and allow them to focus on more complex issues.
- Create detailed product descriptions or tutorials, which could help customers understand how to use products and make informed purchasing decisions.
- Generate personalized marketing content tailored to individual customers’ interests and needs, such as emails or social media posts. This could help build stronger customer relationships and increase customer loyalty.
- Analyze customer reviews and feedback, providing businesses with valuable insights into their customers’ preferences and needs.
- Develop sentiment analysis or summarization, which can be useful for customer service or market research.
- Create an interactive knowledge base for employees where they can find answers or information much faster than with traditional methods.
At BotsCrew, we have played around with the ChatGPT and GPT-3.5 technologies, and the use case that we find the most interesting is applying it to customer service.
With a little bit of expert help, companies can train GPT-3.5 chatbots very quickly to know everything there is from their internal knowledge bases, FAQ pages, websites, etc. Using sentiment analysis, companies can easily detect the mood of the customers to provide more appropriate answers. Add a few integrations, such as CRM, order management, or delivery systems, and you have a very powerful customer service chatbot.
What are the benefits of GPT-3.5 Chatbots?
The main benefit of creating a GPT-3.5 chatbot instead of a regular one is speed. Training this chatbot is much faster and easier than regular ones.
With regular chatbots, you must train them manually to understand everything. GPT-3.5 chatbots are “fed” the required data and can generate answers based on that information. They are also more flexible in understanding human text.
What are the disadvantages of GPT-3.5 Chatbots?
It’s worth noting that one disadvantage of using GPT-3.5 for business is that it can be expensive and resource-intensive to use. Because GPT-3.5 is a large language model, it requires significant computational power to run, which can be costly for businesses.
Additionally, GPT-3.5 is a complex technology, and it can be challenging for businesses to integrate it into their existing systems and processes.
Overall, while ChatGPT has many potential benefits for businesses, it is important for businesses to carefully consider these resource costs before implementing it.
Daryna Lishchynska is a Content Manager at BotsCrew – a chatbot development company that has worked with companies like Samsung, Virgin, Mars, BMC, and many more. She has years of experience in marketing with the focus on the chatbots and customer service technologies. Daryna covers topics like customer service, CX, and customer engagement, and she has wide expertise in automation. You can connect with Daryna on LinkedIn or Facebook.