Every business is now incomplete without adding GPT 4 to their company practices. Chatbots have been one of the most ground-breaking innovations in the business world. And most of the impact has been positive. But GPT 4 bears even more good news as it’s more enhanced. Plus, its abilities are in line with how human beings think and write responses.
There is seldom an innovation that helps both customers and companies. However, AI is the tool that has helped both parties enormously. Previously, there was some criticism on GPT for generating incorrect responses. But GPT 4 is a much improved version. Moreover, it claims that the improvement has reached up to 40 percent. That means businesses can benefit from it even more.
Before we discuss the uses of GPT 4, let’s understand what the model is really about!
Table of contents
What Is GPT 4?
GPT 4 is the fourth generation of an AI language model. Though it can be merged into any business practices, the main use of the model is to replicate human-like responses. GPT 4 can understand, comprehend, and then reply to human beings based on the information they can research. Moreover, the model can also decode the person they are interacting with.
It helps businesses immensely since they cannot single-handedly communicate with every single person. Chatbots have been a stellar addition to the business world because the model has completely changed the customer service landscape.
Importance of GPT 4
The importance of GPT 4 lies in its being an improved version to help industries that join hands with the model. Previously, chatbots were only being used in the retail and make-up industries. But with different versions being introduced, other industries have also partnered with chatbots. However, the exciting part about GPT 4 is that AI has made it extremely close to how a human being would respond. The foundation of the model aims to understand the preferences and give responses that seem highly personalized.
Benefits of GPT 4
GPT 4 yields multitude of benefits for businesses which are listed below:
Personalized Responses
Chatbots were always included to generate responses that were human like. But there were always some gaps that needed to be addressed, GPT 4 aims to understand customer preferences and then deliver responses that only cater to their query. This means that GPT is an improved version of GPT that focuses on personalization rather than just typing out a response. This will bring superb benefits to businesses since they’ll be stress free about customer service. Also, customers will feel regarded and cared for.
Cost-Effective and Less Time-Consuming
GPT 4 is a one stop solution to cater to all customer needs. Companies that include GPT 4 in their practices have a certain competitive advantage. Moreover, it reflects that they are making digitally efficient decisions. Chatbots have a two sided benefit that makes them cost-effective and less time consuming.
This is because companies do not have to hire more people for customer service. Training them, keeping them on probation, and supervising them is a daunting task. Plus, there is always the possibility of human error. By adding GPT 4, companies can spare all that time and use it for departments that need more attention. Also, financial resources are not drained and can be saved for other important purposes.
Customer Satisfaction
A satisfied customer in any industry will only return if their queries are answered super quickly. Customers have tons of questions. And those questions can never be predicted. Customer service agents never have complete knowledge about how to deal with different questions. This is where GPT 4 brings its magic.
It has the ability to understand every question, no matter how difficult it is. Then, based on the information available, it generates a response that would resonate with the customer. The best part is that there are no “working hours” for GPT 4, so queries will be answered around the clock. This is a massive development to enhance customer service practices. Hence, it brings a new flair to customer satisfaction too.
Industries Using GPT 4
Retail Industry
The retail industry is on the rise for several reasons. But since chatbots have entered industry practices, millions of new customers have started trusting the retail industry all over the world. Most online platforms, like Amazon and Shopify, have a gazillion products listed. And a customer service agent cannot answer questions about each product.
GPT 4 cancels out that restriction and is ready to serve all customers and clear their doubts. The best part is, it is able to study customer preferences too. This way, GPT 4 generates a response that instantly sits well with the customer. As a result, it enhances their shopping experience, and they follow through with making the purchase.
Real Estate Industry
The real estate industry is more complex than anyone could have imagined. The reason is that there is a process that goes into buying and selling. Post COVID, buyers and sellers could not be physically present to strike deals. Agents that incorporate GPT 4 into their practices will be able to satisfy both buyers and sellers.
Pictures, listings, and offers can be shared. Physical meetings will become the last resort. Moreover, extra information can be given instantly, and agents can connect like minded buyers and sellers with each other. This also will make the agent’s firm visible, as it will show that they are giving a different buying experience.
Will GPT 4 Remain A Key Player?
Yes, GPT 4 is an enhanced version of chatbots that specifically caters to personalization. That obviously means that it will sift through all important pieces of information to provide an adequate response. Plus, a response that is super personalized. Companies find training individuals for customer service a dated concept. They are now heavily dependent on chatbots because they bring a certain level of ease. Hence, companies will be open to try out every version of the model to see what works best for them.
Featured Image: OpenAI
