Everything ChatGPT can - and cannot - do for your business

ChatGPT is undoubtedly the most talked-about new digital tool of 2023 and many companies are exploring what it can do for them. While at face value it seems miraculous, it has limitations and there are cautions as to how content generated by ChatGPT should be used. 3Cube Property Solutions takes a deep dive into the possibilities of ChatGPT - the possibilities and the pitfalls.

The possibilities brought about by ChatGPT

In mere seconds and - at least for now - for free, any small business can have thousands of words of content generated about any topic under the sun. It can also create AI art, have philosophical conversations and even create code. While there are different ethical standpoints on the issue, ChatGPT content currently passes plagiarism checks and can be published on your website, sent as emailers or used in print collateral. The AI tool can produce anything from a marketing tagline to an ebook on any topic under the sun.

This means that any small business can harness the power of content to educate and entice customers and would-be customers. For starters, you can explain complex topics pertaining to your industry in laymen's terms. You can also write, debug and explain code and even create content in different languages - although this could be a misstep if you're not able to check the content yourself.

The pitfalls of ChatGPT

To the experienced eye, it can often be apparent when content has been created by ChatGPT. It can often lack nuance and - while it can even create artistic forms like poetry - it cannot replace the human touch. Forbes Magazine recently published an article looking at the limitations of ChatGPT. One of the significant points raised by the article is that ChatGPT has difficulties in understanding context - particularly if the context relates to humour or sarcasm. The article also points out that the software does not possess true emotional intelligence and that the common sense that we take for granted is missing.

A humorous example of the pitfalls of ChatGPT can be found in a legal ethics blog in the USA, which refers to the story of Steven A. Schwartz, a New York-based lawyer who enlisted the help of ChatGPT to prepare a court filing. ChatGPT included fabricated case law and legal citations in its response, which Schwartz failed to double check. Needless to say, he did not have a good day in court. The lesson to be learned here is that ChatGPT is not 100% reliable - and you will always need to fact-check any document that it creates on your behalf. This has been referred to as the AI bot's tendency to "hallucinate" or "make things up, get things wrong and do so with an air of confidence".

Over and above these pitfalls, there is a time lag in ChatGPT's knowledge (the software may be completely unaware of a major world news event that took place yesterday or in the past week.) Confidential client information should never be shared with ChatGPT - remember that even if you delete a conversation with this AI tool, your conversations will be stored somewhere on a server.

Of course, AI will improve over time and become more reliable - in the same way that your business will become stronger over time if you have the right premises. If you're looking for commercial, industrial or retail property in Gauteng or in the Western Cape, contact 3Cube Property Solutions today.