SHIFT Advanced Life Design January/February 2023 | Page 35

IS AI FOR BUSINESS ?

03 . What do you like about ChatGPT ?.

I like that ChatGPT is a powerful and flexible language model that can be used for a wide range of natural language processing tasks . It has the ability to generate human-like text , answer questions and complete a variety of language-based tasks .

04 . What ’ s a creative use for it that most people wouldn ’ t think of ?

One creative use for ChatGPT that most people might not think of when it comes to optimizing Return on Investment Capital ( ROIC ) for a business is using it to assist in the selection of Objectives and Key Results ( OKRs ). The model can be trained on historical data and business strategies , then be able to generate recommended OKRs based on the company ' s goals and ROIC targets . Additionally , ChatGPT can be used to analyze data on the progress of current OKRs and make suggestions on how to adjust them to improve ROIC . This can save time and resources on the OKRs selection process and increase the chances of reaching ROIC targets .

05 . How can AI be used to increase profits ?

AI can be used to increase profits in a variety of ways , such as by optimizing business processes , reducing costs , and increasing revenue . For example , AI can be used to analyze sales data and predict which products will be most successful , or to optimize pricing strategies to maximize revenue . Additionally , AI can be used to automate tasks and reduce labor costs , or to improve supply chain efficiency and reduce inventory costs . Additionally , AI can be used for customer service , resulting in higher customer satisfaction and loyalty which leads to increased revenue .
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