How Large Language Models will change your business
Large language models after ChatGPT
Large language models (LLM) are changing the way we handle our business today. With the amazing growth that ChatGPT experienced in just 5 days or 2 months, society is starting to realize more and more how these models are fundamentally altering how we interact with and process data. These models are able to produce insights and solutions in previously unseen ways by utilizing deep learning techniques and natural language processing. We can better position ourselves for the future of data processing and analytics, capitalize on the change to help our organization expand, and outperform the competition by understanding how massive language models are transforming the way we conduct business.
How large language models are impacting the business world?
Large language models are changing many industries - healthcare, gaming, finance, marketing, robotics and many more. They handle diverse tasks such as answering customer questions, providing them tailored recommendations, recognizing and generating text, sounds, and images with high accuracy. LLM can help businesses to better understand clients and meet their needs, automate procedures, and most important - offer individualized experiences. Artificial intelligence (AI) technology based on natural language processing can be also utilized to prevent usage of the toxic language, classify certain content, deploy well trained chatbots or even virtual assistants, boost SEO, and many more.
A tailored user’s analysis hasn’t been accessible to all business owners before the era of AI. I want to underline one more, that with the AI revolution, every business has an opportunity to take a closer look into who their clients are, what do they need, how interaction with them can be improved and also the improvement has been made from client’s perspective - as he has the feeling of uniqueness of the interaction and deeper understanding of his needs.
Regarding how to improve your SEO with ChatGPT you can see our tutorial series. But to break it to small pieces, you can use ChatGPT to:
- Write first drafts of your articles (always rewrite AI generated text for better SEO and readability)
- Help you with research (but always fact check)
- Help you identify most important phrases for your brand
- Improve your ranking with ChatGPT plugins
- Help you to create better titles and descriptions to convert impressions into clicks
- Research first draft of ideas for your articles
- Identify your target audience and adjust language and content to be more appealing and engaging to them
Also the creative industry is changing - not only text to image is live, but also text to image animation with Stable Diffusion. You can see our Stable Diffusion tutorials to learn how to use API, how to deploy it and benefit it for your creative process. You can boost your script writing process, your graphic process and actually many many more.
Even for the gaming industry AI can be implemented. For example you can create a unique NPC with ChatGPT in just a few moments, which every narrative designer knows how much time it saves.
For marketing, you can create concepts for clients and tweak them even during meetings. Or create web design with ChatGPT or create a D&D like story for your brand? Or just help writing D&D adventure script.
Architecture / interior design
Even architects can fasten their work for CAD usage or an app for interior design.
AI is revolutionizing interior design through LLM, which combines prompts, such as budget, room size and style preferences in order to create first drafts of design ideas and layouts based. Such tasks can perform both Planner5d and InteriorAI.
How about augmented reality (AR) and virtual reality (VR) design to feel the project and future space even better? Yeah, use AI. Personalized design recommendations? Yeah, combine text to text LLM with text to image. And how about helping predicting future trends based on all previous data? Sure, LLM already has all the previous data in order to suggest you possible outcomes.
Same is for architects - AI software already improves their work and helps them to get inspired to the first drafts of their projects.
Regarding health care professionals, already tools are emerging helping in diagnostics, surgeries and much more.
As the Healthcare market is predicted to boom from USD 14.6 Billion in 2023 to USD 102.7 Billion by 2028, everyone understands how important this shift is and how AI’s potential has been noticed and implemented. As the AI technology helps us to be healthier, due to e.g. better diagnosis, relieving health care professionals in order allow them to focus on curing people. Will we live longer thanks to AI? For sure, but for today I would say, as it will remove human capacities in innovations, decreasing costs to make healthcare affordable to everyone and decreasing limitations we have in fighting the diseases today.
Actually potential is unlimited and every business can increase their revenue with AI, and as the tech landscape changes with LLM, every business will. And either you adopt and benefit from it, or someone else will.
How to know what I can improve in my business?
I would say that knowledge and benchmark would be essential. First see how other businesses in your niche are performing and who is the leader. Then see who implemented AI and how well he does. Then analyze what solutions were misused, miscalculated or mismanagement. Then, decide which you can implement for your business or how to improve them and than incorporate them into your business model.
If you don’t have access to such data, or your niche did not implement LLM (are there any like that?), you can research new, emerging apps. The best way to understand the market and see how it shifts is to identify startups and potential applications they are focusing on. Lablab.ai’s community of creators, builders and innovators already created a vast amount of amazing AI based tools to help many businesses to improve their performance. Or to solve many problems which people are facing, which is also a great business opportunity despite improving the quality of humankind’s life. If you want to see the emerging apps created during our AI Hackathons, visit our AI Apps and reach out to the creators whose solutions serve your niche best and make your business boom with LLM.
And if you have an idea for a startup and are looking for a business opportunity, join our dedicated build your AI startup Hackathon and shape the future with AI.