The use of statistics, advanced algorithms and AI/Ml is becoming omnipresent. The benefits are visible in every walk of life, from web searches, to movie and retail recommendations, to auto-completing our emails. Of course, not many anticipated the dramatic entrance of generative AI in the form of ChatGPT for writing college essays and poetry on arcane topics.

OpenAI is an AI research and development company whose products include the GPT family of large language models. Since the introduction of GPT-3 in 2020, these models’ fluent and adaptable processing of both natural language and code has propelled their rapid adoption across diverse fields. GPT-4, ChatGPT, and InstructGPT are now used extensively in software development, content creation, and more.

Digital code behind a digitized face Welcome back to our series with Nicholas Wegman, Ph.D., Senior Director of Artificial Intelligence and Alex Barnes, Senior Director of Product Management, as they continue to discuss the science behind Artificial Intelligence (AI) and reveal how it can specifically increase retail/CPG margin. In the second part of our three-part series, we’ll delve deeper into the data science of AI, and why it’s not working for every business.

Seems like everyone is building a ChatGPT thing right now, doesn’t it? Well we are too! Inspired by so many others, we decided to see what AI could do with our simplified analytics and observability data. Turns out, it can do quite a lot. I’m thrilled to share that we’ve shipped our first AI insights chatbot, Professor Sloth.

The release of ChatGPT in November of 2022 elicited excitement from all corners of the internet. It could write code, diagnose patients, ace exams, write books and more — all in a matter of seconds. Yet, many people were left underwhelmed by the results. Inputting “write a blog post about…” resulted in bland and formulaic articles no one wanted to read. The AI doomers could breathe a sigh of relief as it became apparent AI wasn’t coming for tech jobs any time soon.

ChatGPT is quickly being adopted for optimizing pretty much any vertical. You can write reports, come up with content, analyze data, and even get the tool to write code for you. Gartner predicts that by 2025, the AI market would be worth about $134 billion. Thankfully, many businesses are embracing this technology instead of acting hostile. This is a good thing because there is a multitude of ways in which enterprises can leverage ChatGPT.

Artificial intelligence (AI) and machine learning (ML) are two cutting-edge technologies that are revolutionizing the field of website development. AI refers to the ability of computers to perform tasks that typically require human intelligence, such as recognizing speech, understanding natural language, and making decisions based on data. On the other hand, ML is a subset of AI that involves training algorithms to learn from data and make predictions or decisions based on that learning.

There is rapid adoption of artificial intelligence (AI) and machine learning (ML) in the finance sector. AI in banking is reshaping client experiences, including communication with financial service providers (for example, chat bots). Banks are exploring ways to use AI/ML to handle the high volume of loan applications and to improve their underwriting process.

We know that for many retailers and CPG companies, AI/ML solutions represent a game-changing technology. Yet, this journey seldom comes without a few expectable “growing pains”—from adoption and scale through a fully-fledged data-driven transformation. For multiple internal stakeholders across an organization, the end-to-end process can seem quite daunting—especially without a well-defined plan.

Many partners I’ve spoken with are experimenting with ChatGPT to automate script generation, write proposals etc—you name it, it’s being tried. But even in a budget-conscious economy, it’s still not worth sacrificing the human element. This is especially true if that move results in script errors, unreliable information, introducing cybersecurity risks, or compromising your company’s intellectual property. You still need a human involved in the coding process today.