It’s an interesting time in tech, especially with the ChatGPT craze that has put Microsoft front and center again and has even buoyed the hopes of companies like Micron that have seen a 13-year low in memory and storage but know that generative AI will inevitably fire up demand for memory chips.
On the one hand, companies want to try out ChatGPT 3.5 for cost savings with such tasks as content creation and data analysis. On the other hand, hundreds of tech leaders and scientists have recently argued against large experiments with AI that are more powerful than today’s ChatGPT and can pose profound risks to society.
There’s a great deal of middle ground between those two viewpoints, and it’s worth tracking what’s being said.
A survey by a workforce management software company called Workyard looked at 1,000 small to mid-sized digital companies and found 40% are already using ChatGPT 3.5 for automation. It isn’t clear how much the companies are relying on the tool, but Workyard concluded that it could result in cost savings.
For example, Workyard said ChatGPT 3.5 for automating social media management could possibly cut the cost of recruiting and overseeing social media managers by up to 90%. A simple online post for a product when sent to ChatGPT 3.5 under the supervision of strategists could save up to $200 a post, according to Workyard.
Using the tool in email outreach can save up to 24 cents per email based on the average cost of sending an outreach email that can reach 20 cents to 30 cents, including labor, email marketing software, data acquisition and more.
Also, for blog posts, content creation savings could be from $90 to $300 on average per post, compared to the normal cost of $100 to $500 to create social media captions, blog post headers and product descriptions.
One of the biggest areas of focus for chatbots has been for customer service. Workyard said using AI software and downsizing customer service teams can reduce employee expenses by $15,000 a month. ChapGPT- based AI tools cost $500 a month, compared to $3,000 per worker in a 10-person team. READ MORE...
