ChatGPT and GPT-4: How to Implement Generative AI in Your Organization

ChatGPT has taken the world by storm with over 20 million daily users. However, there are still questions on how generative AI tools can be leveraged in businesses and implemented organization-wide. With data security concerns leading several countries to ban ChatGPT, is generative AI still worth exploring for businesses?   

In this exclusive interview, AI expert and best-selling author Lasse Rouhiainen shares his thoughts and insightful advice on the latest developments of ChatGPT and GPT-4, and how to implement and utilize generative AI effectively in a business context.  

*This article is a recap of our interview with Lasse Rouhiainen at the session, GPT-4 and Beyond: The Next Chapter in AI and Business Communication. 

   

How should companies implement ChatGPT and on what level?

It comes from the management. They need to understand that we live in the era of AI. We have to put resources, both time and money, into it. We have to get everybody in the company to start using it, not only IT. Also, remember that whatever you share with ChatGPT goes to the service of OpenAI. Obviously, don’t share your financial information there. Companies like Microsoft are creating solutions where you can have an internal ChatGPT for your company where you can share valuable information. 

In addition, understand that ChatGPT is not a search engine. Our brains are wired to use search engines because we have been doing it for 20 years. We go to Google and type one thing, and we find our answer. What we write for ChatGPT needs to be more than “Give me a 400-word article on management,” for example. We need to give ChatGPT a paragraph. So, everybody in your organization should write paragraphs with as much context and details as possible.  With AI, the more data we give it the better.  

Next, start using ChatGPT in your Intranet or a place where your colleagues share best practices. That way you can share the best prompts and it’s really useful. As a company, you should also send an email to everybody to remind them not to share sensitive information with ChatGPT. 

It’s interesting to see two kinds of people here. Some are excited by ChatGPT and use it all the time and have gotten results. The other kind knows it’s important but tries to avoid it.  Well, this is all about business. We will see the implications within 18 months where a lot of people will be unemployed and not know what to do. It will become a societal problem. Business-wise, there’s been a lot of anecdotes and amazing success stories already. 

 

Is ChatGPT far away from large commercial use?

No, it’s not. It’s a significant and revolutionary tool, and back then we didn’t have GPT-4. We didn’t know that Microsoft would implement this tool in their products.  

ChatGPT is a new layer of the Internet. If you’re not using it and not building on top of it, you will be out of business and lose your competitive edge in a few months.  

It’s happening in every industry, even industries that normally have been safe like the financial industry. Also, companies are building and launching ChatGPT internally. Bloomberg has ChatGPT which has been great at analyzing financial information. This means that 80% of financial analysts will probably lose their jobs, even if they have a Ph.D.  

 

Which industries will be impacted by ChatGPT and who else will lose their jobs?

Industries that have a lot of repetition or those where machines can be taught something repetitive. For example, the financial industry. The education industry will also be impacted gradually as it doesn’t have many AI applications due to privacy concerns in Europe. I just had a call with a university chain with 20 universities worldwide on how they could use ChatGPT to become more competitive. No industry is safe.  

It’s important to be proactive and spend time learning how to talk better to the computer, and not be those people who say that’s not their area of interest. At the same time, it’s an amazing tool to grow your sales and improve your business strategy. This is because ChatGPT has been trained on every piece of business information out there and it has read all the business books. So, it’s more knowledgeable than all of us. For example, we should use it to analyze strategic decisions, or new products and services. 

I don’t know who will be fired, but I do know that a lot of people will be. According to OpenAI and their research, 25% of jobs in Europe and the U.S. will be impacted by ChatGPT. For example, mathematicians, translators, and everything that is repetitive will go. According to Goldman Sachs, 32% of administrative or managerial work will go away, in addition to 44% of lawyers. 

 

What are your thoughts on certain countries banning ChatGPT?

If it happens in your country, don’t start crying. You can always use the ChatGPT API. There are many chatbots that are almost as good, such as you.com. There are a lot of options. The European Union (EU) has a long history of first banning something before they start investigating. Once they start investigating, they change their mind. Also, there are many political reasons why the EU has been doing this. It’s not the best strategy because ChatGPT is a tool that is extremely helpful and democratizes tools that can help teenagers start businesses from zero, for example. That was never possible before ChatGPT. It’s an empowering tool for people who want to use it. The EU also doesn’t want to be dependent on American cloud services. There’s a Finnish initiative where a European language model is in the works, and I think that’s a really innovative way to not depend on American technology. 

 

If everyone is using ChatGPT, how do companies maintain a competitive edge? Will ChatGPT become a commodity?

Right now, there’s a high likelihood that your competitors are not using it to its full potential. But I recommend that you start using it and not wait until your competitors use it first. In addition, there are other AI tools on the market. One of them is AutoGPT. It’s open source so everybody can use it and create their own versions. People are calling it an autonomous artificial intelligence agent. You just need to give it one goal and it will do the rest. At the same time, there’s a lot of hype about generative AI. Don’t get too worried or excited by it. Just focus on your business and use ChatGPT as a tool to help you.  

 

Can ChatGPT be used for economic and financial analysis considering it lacks real-time market data?

There are talks of a plugin that will allow users to use real-time data soon, so I’m not too worried about it. For economic and financial analysis, it’s really good. I would start searching what are the best prompts for financial industry analysis.  

For example, I could ask ChatGPT to analyze the GDP of Finland and Sweden and put the results in a table. I would also advise people who want to write better prompts to write their best prompts and put them through ChatGPT. You can ask ChatGPT to make your prompt more comprehensive and detailed. GPT-4 is really good at understanding nuances and will provide a better prompt. You can create business value from the answer to your prompt and make amazing financial products. 

 

How do companies utilize ChatGPT effectively?

It depends on your daily operations. Again, the best person to answer that is ChatGPT. You can list down everything you do in your day-to-day life and work. Identify three activities with the most repetition and ask ChatGPT to generate creative solutions and ways to manage them. You can also use ChatGPT to get ideas for content. You can feed it different scenarios that could go wrong and how to prepare for each scenario.  

For example, one of my clients has an online store and used ChatGPT to generate emails for seven different scenarios her customers may face. It’s like your assistant that’s always with you and can help you overcome many challenges you have in your work. The paid version does not cost a lot. ChatGPT is the first tool that gives us access to powerful deep-learning algorithms. Get all the benefits from the free version and upgrade to the paid version once you see results. 

 

What do you think of how ChatGPT collects and presents third-party data?

This is an interesting ethical analysis, specifically with generative AI that creates images. There’s a big court case against Stable Diffusion, which is a project that is trained using Getty Images to generate any image you want. I understand it’s a big thing because many people work their whole lives to take photos and share them. All of a sudden, their work is being used and they get no profit. It’s a big ethical issue. When it comes to writing, I don’t see it as big of a problem. For instance, GPT-4 can give me reliable sources and citations.  

 

How can we spot AI-generated information? Is there a need for digital authentic source marking?

There are many solutions being built at the moment but most of them are not good. For example, students already know that you can use ChatGPT to write text and then copy and paste it to other tools like Grammarly, change some sentences, and it already looks human-worthy. I think OpenAI is also working on some kind of tool, where there will be a label for AI-generated content. When it comes to videos, it will be difficult. That’s where we have a big problem because anyone can be impersonated, we can create videos with anyone’s voice. That’s one thing that needs to be managed. 

 

What are the limits of ChatGPT on deriving correct information for business-critical decisions?

GPT-4 can currently give citations and sources. For example, I used it to analyze the hotel industry in Helsinki and the answers were amazing. Also, give as much context as possible without sharing sensitive company information. However, don’t copy and paste the answers you get, and remember to think critically. That’s how you get the best business results. 

AI will help us do things better, cheaper, and faster. The problem is that ChatGPT is simple, it’s just a website. People don’t understand that behind it are some of the most powerful AI algorithms. I recommend that everybody accept this new reality where your future depends on how well you talk to a computer. It’s a question of your career and your company’s success.  

Embrace these tools and be architects of the future rather than victims by resisting technology. I want to invite everybody to join this revolutionary AI journey. 

 

*The interview answers have been edited for length and clarity.