Marketers have long hoped for a radical technology advance, a game-changing AI intervention that would slickly bring them nearer to their target audience. ChatGPT and Google Bard, an AI chatbot with generative language that was created by OpenAI will completely transform how you communicate with customers.
Open AI’s offerings drawn on the lines of generative AI are coming at a perfect time in India as it seamlessly adopts AI technology to make things better, and faster and make a digital footprint. Indians today are making deeper in-roads, embracing everything digital and Open AI chatbots adoption will only encourage it esp. for rural India. Now, more than ever Indians are adopting the latest digital and fintech applications, especially in their financial and business transactions.
Open AI deserves special mention for its novel functionality. Achieving a close-to-human conversation thanks to its natural language generation (NLG) model, it smoothens conversation with the end users by ebbing out the miscommunication and conveying the message seamlessly in context. Though its usage will be across industries and functions, we trust that the marketing function especially in banks will get a major collaborative boost like never before. Simply because they can connect to their customer better now via an AI-assisted conversational platform.
Marketers like us are especially excited and keen on adopting Open AI chat bots and other generative AI applications. Open AI’s interventions are expected to take assistive technology to a new level reducing application development time and bringing powerful capabilities to nontechnical users across functions.
We foresee early impact of its usage in core and sub marketing functions.
Designing: Open AI’s functionality can be used in serving the day-to-day marketing requirements like content for product brochures/ leaflets etc, especially in regional languages. AI generation would bring in much-needed speed, and a higher degree of accuracy towards the desired outcome once the right foundational model for all Indian languages is developed.
Content generation: Due to its ability to provide creative notions and ideas, this chatbot can aid in increasing process efficiency. The tool can provide material and ideas that marketers can work on to make it more relevant to the target market with the right prompt. Additionally, brands may utilize the tool to create more interesting content using frequently searched terms or keyword ideas, which will help them become more visible online and draw in more targeted customers.
Customer experience: Open AI can also play a vital role in enhancing the online customer experience. This clever AI technology can interact with clients through conversational marketing and real-time customer assistance by posing pertinent queries and making suggestions. Providing a more individualized experience can boost consumer engagement and foster brand loyalty. The software could allow for a thorough analysis of customer feedback using the right foundational model.
Business enablement: To improve sales by intuitively aiding in flagging off risks, recommending next product offering and identifying cues of customer interaction that leads to growth and retention.
Compared to normal chatbots, Open AI’s conversational dialogue is novel, the first of its kind as it is able to handle follow-up questions very well. Lending a human touch it suavely admits to its own mistakes while countering incorrect assumptions blocking out appropriate requests that earlier versions could not do.
In conclusion –
Though Open AI’s usage would usher in better human engagement among all users by making interactions easier and ironing out miscommunications; its usage must be monitored.
Novelty of the software and its implied usage is welcome; however, we must ensure that well-drafted regulations are in place before we adopt it seamlessly. We should also note that for getting the best result we should also know the art of prompting. A clearer prompt will generate a more desired answer from the tool. Let us always remember it is a new software and hence will require guidance in implementation. However, Open AI platforms seems to be among those rare innovations that bridge human and technology like never before; and minimize the divide to ‘err is human’.
Author: Ms. Azmat Habibulla, Chief Marketing Officer, South Indian Bank
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