The Pros and Cons of ChatGPT and AI for Business

February 20, 2024

ChatGPT, and artificial intelligence (AI) more generally, is revolutionising the way in which businesses operate. Today more than ever, businesses must ensure they are doing everything possible to innovate, streamline processes and enhance customer experiences.

The implementation of AI has been a game changer for businesses, transforming organisations in a number of ways. However, whilst ChatGPT and artificial intelligence offer numerous benefits, there are of course some considerations that have emerged as a result.

ChatGPT and AI: Chatbots

The Pros and Cons of ChatGPT and AI for Business - Adept IT Solutions | IT Service and Support Newcastle, Hunter and Central Coast

Chatbots are becoming increasingly prevalent in businesses with a focus on customer service. Chatbots are computer programs that simulate human conversation with end users (the customer).

Modern chatbots are generally equipped to utilise conversational AI techniques like natural language processing to not only understand the user’s question, but also automate responses back to them.

Whilst increasingly frequent for businesses today, there are both pros and cons in relation to the implementation, and effectiveness, of chatbots as a means of customer service and communication:

Pros

  • Ability for customers to receive responses 24/7.
  • Capable of handling large volumes of inquiries simultaneously.
  • Reduce wait times for customers.
  • Decrease staffing hours.

Cons

  • Provides an impersonal experience for customers.
  • Increases customer frustration due to inability to speak to a human.
  • Customisation process of AI algorithms to match desired outcomes can be time-consuming and complicated.

ChatGPT and AI: The Workplace

The Pros and Cons of ChatGPT and AI for Business - Adept IT Solutions | IT Service and Support Newcastle, Hunter and Central Coast

The introduction of artificial intelligence into the workplace has long been seen as the beginning of the end for some roles within businesses. Whilst this concept is not completely false, with a predicted 10% of Australian jobs forecast to be replaced by 2027, it is not quite the end of humanity as was first thought.

Rather, AI has actually been seen as more of a tool than anything, to be utilised and developed to best work with human intervention. On the opposite side of things, there is a sense that there will always be a lack of creativity, or personal touch when artificial intelligence is used by businesses.

Pros

  • Allows staff to remain focused on higher priority responsibilities, whilst AI focuses on the mundane tasks.
  • Can be used as a tool for your workforce, allowing for quicker resolutions.
  • Utilising the versatility of AI and ChatGPT, multiple functions can be in operation and completed at any given time.

Cons

  • Potential for a reduction in staff numbers, leading to impacts on morale and customer satisfaction.
  • Reduces the level of connection between business and client, potentially impacting the overall experience and future of the relationship.
  • Public image may suffer, as there is still a somewhat hesitant approach to the reliance of artificial intelligence in business today.

ChatGPT and AI: Ethics of Artificial Intelligence

The Pros and Cons of ChatGPT and AI for Business - Adept IT Solutions | IT Service and Support Newcastle, Hunter and Central Coast

The ethics involved with artificial intelligence is a topic that has increased in relevance and scrutiny in recent years. As mentioned previously in this blog, there has been a common conception of AI that it is being designed in a manner that will eventually replace a large number of jobs.

The ethics of artificial intelligence also extends far past the matter of jobs, but also the degree in which we as a society are increasingly trusting, and reliant, on algorithms. Faith in such a concept is not the major issue, but more so the way in which businesses and even consumers are becoming reliant on a non-human enterprise.

Pros

  • Allows for AI and ChatGPT to act in a non-biased manner, removing any human prejudice involved in decision making.
  • Uses raw data as a means of making conclusions.

Cons

  • Potential reduction in the human workforce numbers across many different fields and industries.
  • Artificial intelligence led decision making having an impact on human, real world concepts.

ChatGPT and AI: Automation

The Pros and Cons of ChatGPT and AI for Business - Adept IT Solutions | IT Service and Support Newcastle, Hunter and Central Coast

Automation in business is a topic that, alongside AI, has had increased interest at a high rate across many industries. Automation is the creation and application of technology to reduce the levels of human intervention, in an effort to improve the efficiency, reliability and speeds of mundane tasks.

Automation has been utilised across many business fields to minimise human labour levels, especially in relation to repetitive tasks. Whilst originally seen in the “physical world”, such as in manufacturing with robotic assembly of parts, the technology domain is catching up.

AI automation is all about the process of learning. For example, four major types of artificial intelligence automation are machine learning, supervised learning, unsupervised learning, and reinforcement learning. All these concepts are designed for the artificial intelligence to learn from completing automated processes.

Machine learning uses datasets, algorithms, and artificial neural networks to learn and improve results over time.

Supervised learning trains artificial intelligence models on labelled data. In a way, it relies on human provided sets of questions and known answers to learn from.

Unsupervised learning trains AI to independently identify data patterns, relationships, and structures. Unlike supervised learning, there is no output to provide.

Reinforcement learning allows the artificial intelligence model to learn by trial and error. This is a feedback driven approach, relying on the human to optimise the machine by providing penalties and rewards for its actions.

Pros

  • Allows for increased levels of productivity for businesses.
  • Increases reliability through artificial intelligence learning processes.
  • Cost-cutting for reduced requirements for human intervention.

Cons

  • Reduction of human intervention may lead to a lack of creativity in certain fields, with the AI focusing on completing tasks within the provided parameters.
  • High costs are involved in the creation of a machine that can accurately simulate human intelligence and actions.
  •  A lack of human input on mundane tasks that automation is designed for, can actually backfire, with the final product potentially concluding without the desired outcome in regard to quality.

ChatGPT and AI: Cybersecurity

Cybersecurity is at the forefront of many businesses’ minds, with online threats and attacks from malicious parties increasing year by year. AI is one of the primary uses for combatting these attempts and has increased in prevalence and effectiveness over the years.

Whether it be threat detection and responses, scalability or improving accuracy and efficiency in the protection processes, artificial intelligence is positively impacting the cybersecurity realm.

The implementation of artificial intelligence in cybersecurity however has been a point of concern in other aspects of business. This is due to the general sense of a lack of explainability and transparency seen, issues with decision making, and a heightened potential for AI to actually be used as a tool for hackers.

Pros

  • Ability to combat potential threats faster, as artificial intelligence assists in helping understand your own networks better, but also identify potential threats faster.
  • Able to automate many security processes, including patch management, zero trust models and anomaly detection.
  • Ability to enhance scalability and cost savings through AI driven tools to process vast amounts of data far more quickly.
  • Reduce response times to security incidents and lower the overall cost of cyber threat defences.

Cons

  • artificial intelligence is actually increasing exponentially as a tool used primarily for cyber criminals to maliciously attack businesses.
  • The algorithms used to make decisions in relation to cybersecurity are often lacking in transparency, leaving organisations vulnerable to future attacks due to inconsistent information.
  • A lack of accuracy can be seen if the AI machines are not designed or set up to catch intricate forms of attacks. Missing these types of attacks can lead to heightened impact and negative results for businesses.
  • Blackberry have actually released, via their investigation, that 75% of businesses worldwide are looking to ban ChatGPT due to potential data security and privacy.

If you would like to learn more about our services or our cutting-edge cyber security awareness and training platform, click here. Or feel free to contact Adept IT Solutions on 1300 4 23378 (ADEPT) or email us at info@adept-it.com.au.

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