Opinions expressed by Entrepreneur contributors are their own.
ChatGPT can pass law school exams, write articles, and maybe help cheat in class. The power of AI is evolving so rapidly that more and more headlines will be making headlines about what it can do next (and the problems that might result).
What does the controversy surrounding ChatGPT tell us, and what’s next as tech giants like Microsoft bring in billions in new investment?
Where is the AI now
ChatGPT’s ability to pass law school exams demonstrates the power of AI. This is an exciting development for researchers and technology companies, as it shows that AI can interpret concepts, understand nuances of language and provide detailed answers. This could open several possibilities for AI-based applications in various industries, from healthcare and finance to startups.
While ChatGPT’s success story is impressive, it highlights an important limitation with the current AI technology: it still requires humans to provide input and examine the output before it can be used in the real world.
For example, while ChatGPT managed to pass a law school exam on its own, it was unable to answer all of the questions correctly on its own. To use and score higher, humans must review and edit answers before they can submit them.
Related: The 3 Biggest Artificial Intelligence (AI) Trends in 2023
What the ChatGPT Controversy Tells Us Now
The ChatGPT controversy is an example of misplaced trust in the power of artificial intelligence. This technology will continually disrupt technology and many industries for years to come. It will improve, simplify tasks, write content faster and change our work forever. What it won’t do is replace human experience and connection. He cannot use human knowledge and understanding to think about decisions and strategies (not yet, anyway).
ChatGPT leverages AI to decipher complex topics but fails in strategy. It simply cannot offer the same attention and care as a well-designed strategy. That’s not to say that AI technology doesn’t have powerful applications, but its applications are limited and shouldn’t be relied upon to tell us how best to approach future scenarios in any given situation.
OpenAI has brilliantly developed ChatGPT to extract data from existing and readily available content, primarily from Google. But just as a Google search will first produce content with the best SEO, ChatGPT will extract data that it thinks is the most relevant match but not necessarily the best match. Going forward, we must remember that while AI technology can help us get faster answers, solid strategies will still be needed for better decision-making and action.
By relying solely on machine learning, ChatGPT reminded us that artificial intelligence cannot solve all the problems faced by entrepreneurs. Flexibility is needed to anticipate and respond to changing market conditions and respond to questions that do not lend themselves to formulaic answers.
Related: How companies are using AI to increase revenue
Additionally, AI should be used with experienced decision makers who understand the nuance of each situation and can take relevant action. We need to carefully consider where AI can fail and put decisions in the hands of human expertise.
This controversy underscores the importance of human knowledge in making informed decisions, demonstrating that no matter how advanced technology can become, it will never replace good judgment.
Related: How to Leverage Artificial Intelligence in Public Relations
And after?
As tech giants like Microsoft invest heavily in AI research and development, we will see more breakthroughs in AI. However, as we move forward with these developments, we must consider both the potential advantages and disadvantages of using this technology, particularly with regard to ethical considerations such as privacy issues or processes automated decision-making.
The controversy around ChatGPT tells budding entrepreneurs that it is essential to have a solid strategy if they want to grow and evolve. It’s easy to fall in love with the promise of automated content, but without a plan to effectively reach and engage the ideal audiences, it won’t have much of an impact.
What does a solid strategy look like when implementing ChatGPT or the others that will follow from Microsoft and Meta?
- First, strategy starts with asking questions of yourself and your team. What can we produce that is unique to our brand, our offerings and our audience? What content do we have that is a differentiator for me that no one else has? If you can’t answer, it’s time to define your brand story.
- With your brand’s original content, how does it connect with the intended audience? Are there better or more direct ways to simplify this content to engage your audience more? Again, think about how this can be completed and implemented without AI.
- ChatGPT comes last, not first. Use technology to enhance what your brand already has and represents in the marketplace. Develop a brand strategy depending on what’s owned, get that message out to the right audience, and then only use AI to build on that.
Successful entrepreneurship requires more than focusing on ChatGPT, AI, or other technologies. Planning, research and regularly staying the course are fundamental principles that must be established first. ChatGPT can be an essential tool to improve these fundamentals when established. ChatGPT can handle mundane tasks quickly and easily, allowing entrepreneurs to focus on other areas of their business while ChatGPT performs tedious but necessary tasks on its own. ChatGPT should not replace basic fundamentals, but supplement them by providing entrepreneurs with the time needed to fully commit to building a successful business.