Opinion: Ex-Dragon's Den Investor Piers Linney On Chat GPT

Piers Linney featured on the hit BBC show Dragon’s Den alongside the likes of Peter Jones and Deborah Meaden between 2013-2015 and is now the founder of Moblox, a platform for owner-led businesses that provides technology and tools that help them do business better.

Piers is a columnist with Trailblazer and recently expressed his thoughts on ChatGPT, a chatbot developed by OpenAI to create AI-generated content and how it can help small businesses:

“ChatGPT is based on OpenAI’s GPT-3.5, or ‘Chat Generative Pre-Trained Transformer’.ChatGPT is an AI-powered chatbot designed to provide natural, fluid, dialogue-like responses to queries. In some cases, third-party software that uses the ChatGPT may be required.

You can use ChatGPT in many ways and the application has only been available for several months. You can be sure that your competitors are busy trying to work out how to use it, so here’s a quick and easy guide to follow –

The most obvious use-case is to increase traffic and revenue by learning how to write prompts that enable ChatGPT to create high-quality content for your website and social media platforms that is both engaging and informative. This will help to attract more visitors to the website and increase conversions. This can also help to improve the search engine rankings of the website, which can lead to even more traffic and revenue.

Another way to increase revenue is to leverage the power of ChatGPT to help with sales and marketing. ChatGPT can be used to generate email and social media campaigns, which can be personalised to reach specific audiences and increase conversions. It can also be used to generate lead magnets and content landing pages, which can be used to capture leads and grow your email list.

You can also create several different versions for A/B testing.

ChatGPT can be used to reduce costs by automating tasks such as automated responses to customer queries, which can save time and money. It can also be used to generate reports and analyse data, which can help to identify areas where costs can be reduced. Mundane tasks such as bookkeeping and accounting tasks can already be automated, but new applications based on ChatGPT will enable increased automation.

Businesses are essentially a collection of contracts with customers, suppliers, and employees. ChatGPT can be used to assist in creating legally binding documents, contracts, and agreements. It can also be used to research legal requirements and regulations although a web search plugin, such as Merlinmay be required. With anything legally binding, we would suggest caution at this point however, and to always check with your legal department or law firm.

Finally, you can also use ChatGPT to improve your decision making process by using it to analyse data and generate insights so that you can make better-informed decisions and improve the overall performance of your business.

GPT-3 and ChatGPT is a powerful technology and this is just the beginning. You can now generate a script using ChatGPT and then use software such as Descript to speak it in your own voice that it can replicate (using uploaded audio files) and add video clips. You can go a step further and create a personal avatar of yourself using Sythnesia.io in videos for training. Your avatar won’t fool a human – yet. If you want to create art using AI, try OpenAI’s DALL.E 2 which can create realistic images and art from a description in natural language.

Here are 5 things to consider using ChatGPT for in your business:

Identify the specific tasks that you want to automate or improve using ChatGPT: This could include tasks such as creating content for your website, generating automated responses to customer inquiries, or analysing data to make better business decisions.

Research the different types of ChatGPT-based tools available: Determine which tools that use ChatGPT best suit your needs. This may involve looking at the features and capabilities of different tools, as well as the costs and any additional resources that may be required.

Set up and test the ChatGPT tool you have chosen: This will involve configuring the tool to suit your specific needs and testing it to ensure that it is working as expected.

Integrate the ChatGPT tool into your existing workflows: This may involve modifying your existing workflows or creating new ones to make the most of the tool's capabilities to save you time and money.

Monitor and analyse the results of using the ChatGPT tool: Track key metrics such as conversion rates, customer satisfaction, and cost savings. This will help you to identify areas where the tool is working well and areas that may need to be improved.

You may have guessed that this article was based on text generated by ChapGPT to provide a starting point. A design AI also created the cyborg image based on a photo that I uploaded. I the reviewed and amended the text and added a more appropriate introduction. It is important to understand the subject matter and review and revise content to ensure that it makes sense and is high quality as ChatGPT can make glaring mistakes.

Still, it is a game-changer and I saved about an hour of time.”