February 16, 2023

OpenAI’s ChatGPT was launched in November 2022 and took the world by storm, gaining a million+ users within days – and 100 million users within two months. Then in late January 2023, when Microsoft announced it had invested $10 billion in the tech, the buzz intensified. Stakeholders across all industries are actively working to use this transformative technology to their advantage.

At Neudesic, the 2022 US Microsoft AI Partner of the Year, we’re excited about this next phase of artificial intelligence (AI) and how it can be used to drive efficiency, productivity, and performance for our clients.

What is ChatGPT?

ChatGPT (Generative Pre-trained Transformer), is a public chatbot powered by a Large Language Model (LLM) developed by nonprofit research institute, OpenAI. LLM is part of natural language processing (NLP), the branch of AI which enables us to “talk” to machines. We ask questions and the machine responds like a human would—or at least comes close.

ChatGPT can do that because it was trained on a massive dataset of human-written content on the internet that ends in June of 2021. Therefore, you cannot ask it any current questions but is still extremely valuable. As more people across the globe use it, the more it learns.

ChatGPT isn’t the first of its kind and it won’t be the last. This technology is already being used to automate tasks, including app and software development, marketing and content creation, data management, sales, and more.

OpenAI’s ChatGPT was launched in November 2022 and took the world by storm, gaining a million+ users within days – and 100 million users within two months. Then in late January 2023, when Microsoft announced it had invested $10 billion in the tech, the buzz intensified. Stakeholders across all industries are actively working to use this transformative technology to their advantage.

At Neudesic, the 2022 US Microsoft AI Partner of the Year, we’re excited about this next phase of artificial intelligence (AI) and how it can be used to drive efficiency, productivity, and performance for our clients.

What is ChatGPT?

ChatGPT (Generative Pre-trained Transformer), is a public chatbot powered by a Large Language Model (LLM) developed by nonprofit research institute, OpenAI. LLM is part of natural language processing (NLP), the branch of AI which enables us to “talk” to machines. We ask questions and the machine responds like a human would—or at least comes close.

ChatGPT can do that because it was trained on a massive dataset of human-written content on the internet that ends in June of 2021. Therefore, you cannot ask it any current questions but is still extremely valuable. As more people across the globe use it, the more it learns.

ChatGPT isn’t the first of its kind and it won’t be the last. This technology is already being used to automate tasks, including app and software development, marketing and content creation, data management, sales, and more.

What makes ChatGPT different than other AI?

AI is not new, and it has increasingly been used in business and industry for a variety of functions to improve productivity and efficiency, customer experience, and decision-making. At Neudesic, we’ve been helping clients successfully scale AI initiatives for years, through our award-winning AI accelerators.

However, what makes ChatGPT different is that non-technical users can use it, and opportunities abound. This generative AI is poised to shake up how companies handle everything from content writing to software development and coding to data science and analytics. For example, Gartner states, “By 2025, 30% of outbound marketing messages from large organizations will be synthetically generated, up from less than 2% in 2022.”

How can you use ChatGPT?

It’s important to note that you cannot just set it and forget it when it comes to ChatGPT, and OpenAI is making that clear.

From OpenAI’s ChatGPT FAQ: “Outputs may be inaccurate, untruthful, and otherwise misleading at times.” And “ChatGPT is not connected to the internet and has limited knowledge of the world and events after 2021, so it could produce harmful instructions or biased content.” In other words, the answers you receive may sound great, but they could be entirely wrong.

So, like most of the experts talking about ChatGPT, we recommend exercising caution. However, we do see ChatGPT as an incredible tool to augment and support your existing operations. We’re excited about the potential benefits it offers, and we see it being used to optimize workflows in these ways:

  • Make sense of staggering amounts of data, by searching for patterns in the content and summarizing findings or offering insights in reports people can easily understand
  • Gain insights in real-time for quicker decision making
  • Develop applications that can analyze data and automate data gathering, cleansing, and formatting
  • Classify and categorize content and data
  • Generate predictive analytics that drives decisions and help organizations avoid risk
  • Automate some customer support functions—like 24/7 responses—and provide a better customer experience
  • Make sales by engaging with potential customers on websites
  • Enable competitive research and customer sentiment analysis on your own business
  • Brainstorm for marketing campaigns, products, initiatives, and strategies

A case for AI—and where Neudesic utilizes large language models

For a leading insurance company, Neudesic implemented its AI-based Document Intelligence Platform, which is built on Microsoft Azure, to automate the processing of 5,000 monthly client accident letters. The documents contain nearly 200 pages that were being manually reviewed, sorted, and data-entered by employees, and the time, cost, and risk associated with the existing process was no longer sustainable.

The Document Intelligence Platform uses AI and machine learning to scan and instantly extract relevant information from those documents and automates the manual error-prone, time-consuming process of extracting data. As a result, the organization received this business value:

  • Reduction in operational costs related to document processing by more than 90%
  • Achieved a 200% increase in efficiency with automation
  • Reduced the overall risk of not meeting expiration dates on demand letters
  • Ensured full data security to remain in compliance

Neudesic is in the process of using OpenAI’s large language model to take our Document Intelligence Platform solution to the next level by synthesizing and summarizing the data in ways users can understand and drive actionable insights.

“At Neudesic, what has us really excited about OpenAI, and all AI for that matter is that it removes many of the tedious, manual, time-consuming processes. It can free people’s time to do the things machines can’t do like think critically, strategize, solve complex problems, lead, and build high-performance teams and workplace cultures. Instead of using people’s time on tasks that can easily be automated, with AI, you unleash them and empower them to do the kind of work that leads to innovation and positive change. Even if we can just make people 20% more productive—and focus that extra time where it matters—imagine what could happen,” says Jim Brown, Data Science Director at Neudesic

If you’d like to learn more about how AI can benefit your business, we’d love to chat. At Neudesic, can provide machine learning and AI capability in weeks—not years. Learn more.