AI & ChatGPT

[Michael Italia]

Has anyone started utilized AI & ChatGPT into their business? 

I'm curious to know...

- What you're using it for (Marketing, Ad Listings, Email Campaigns, etc..)
- How it's going for you
- Learning Curve
- Time savings
- Any increased improvements in your business as a result
- Etc... 

[Eric Fernwood]

@Michael Italia

There's a lot of hype about ChatGPT and similar AI products. Some people even believe that AI will take over the world! Spoiler alert: Skynet does not exist.

However, as usual, the hype does not match reality. But this does not mean that ChatGPT is not a powerful tool.

ChatGPT can enable you to complete tasks in minutes that used to take hours. However, it is just a tool and you need to know how to use it to get what you want. Here are some of the ways that I use chatGPT on a daily basis.

• ChatGPT enables me to find information, not links to web pages. ChatGPT enables me to ask what I want and get a quick response, instead of skimming through a dozen web pages trying to find an answer to my question.
• The ability to quickly get answers has enabled me to do more “what if” types of scenarios. So, instead of wondering what something might be, I can just ask ChatGPT.
• Demographic research - This is an invaluable capability. For example, the population changes over time for a metro area.
• When writing an article, I use ChatGPT to determine which points interest readers most. I use a prompt similar to the following: "I am writing an article on the relationship between rental prices and inflation. Based on Google searches, what points would investors find most informative?”
• Summarizing publications - Our investor services are based on data science. To keep up with relevant advances, I read numerous publications each week. However, I don't know if an article is actually relevant to the area of mathematics or programming we use until I read it. My guess is that less than 10% of the articles I read are actually relevant, and each one takes several minutes to read. Now, I use ChatGPT to summarize articles. By reading the summary, I can quickly determine whether the article is relevant to what we do.
• Finding information sources - For example, I can ask ChatGPT to provide information sources on a specific topic.
• Refine emails and articles. I write quickly, but editing takes a long time. Today, ChatGPT greatly reduces the time to create quality content.

While ChatGPT and similar AI tools are not magic, they are very powerful.

People wonder whether AI will replace their jobs.

The simple answer is no. However, the person who knows how to effectively use AI tools like ChatGPT to get more done will replace you.