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This is quite a bold statement from Bill, considering we are talking about a technology that is in its infancy. However, when Microsoft decides to make a $10 billion partnership investment in this technology, it does make people sit up and take notice.
Why is Microsoft making this investment and integrating ChatGPT into its full product suite? What does ChatGPT mean for businesses?
Artificial intelligence is not a new concept, so what is new about ChatGPT? The key difference is that it has optimised human dialogue and language. This means you do not need to be an AI guru to interact with it and find the answers you need. It is also very different from the chatbots we are familiar with, especially when our broadband connection stops working or we are trying to fix something. It has the ability to understand context and maintain a conversation on a wide range of topics.
So how does it change our world and make things more efficient? The GPT technology has been in existence since 2018, which saw significant improvements and opened up the model to considerably larger datasets. ChatGPT3 and subsequent versions has become the game changer for the technology as the model trained on 175 billion parameters. This has the potential to change businesses in many ways. For example, it can help with tasks such as preparing legal or financial documents, writing code, and completing some standard tasks and functions typical of managers, analysts, and consultants. Customer service can also be improved by using conversational technology to provide 24/7 support without needing human agents.
Microsoft has recognised that this technology has the power to revolutionise industries and transform the way companies operate. It is currently embedding the technology across its full suite of solutions.
In January this year, Microsoft announced that it would add ChatGPT to its cloud-based Azure OpenAI services. This means the technology is integrated into many of its cloud solutions such Dynamics 365 and Microsoft 365. They followed this announcement with the launch of Microsoft Copilot, which is a powerful tool that can help businesses improve many of their operational functions, including finance. By automating routine tasks and providing insights into data trends, it can help businesses make better decisions, save business time, reduce errors and achieve enhanced success.
Copilot also integrates with CRM and ERP systems to provide interactive assistance across business functions such as finance, sales, service, marketing and supply chain. This integration allows businesses to accelerate their pace of innovation and improve business outcomes by putting CRM and ERP systems to work for them.
In terms of security, Microsoft has built on its existing commitments to data security. This is done by ensuring that Copilot automatically inherits your organization’s security, compliance, and privacy policies for Microsoft 365. Standard features such as two-factor authentication, compliance boundaries, privacy protections, and more make Copilot a trustworthy AI solution.
This all sounds too good to be true.
French sociologist, Jean Bauldrillard once said: “The sad thing about artificial intelligence is that it lacks artifice and therefore intelligence”. ChatGPT is indeed a powerful tool but there are risks that businesses need to be aware of:
Data Bias: ChatGPT generates responses based on the data it has been trained on. It may generate text based on patterns and bias inherent in the data rather than objective facts.
Data Privacy: As ChatGPT integrates into core platforms such as Microsoft 365 and Dynamics 365, Data privacy and confidentiality breaches need to be considered. Businesses need to consider their data privacy policies and take appropriate measures to protect data.
Critical Thinking: ChatGPT does not replace critical thinking and responses should be crosschecked with reliable sources. When evaluating responses, consideration should be given to whether the information makes sense and is consistent with what you already know about the topic.
As Bill mentioned ChatGPT does have the potential to change our world. Already companies like Microsoft are integrating the technology directly into their workplace, business application and cloud platforms. Companies will soon be in a position to automate standard processes by using just natural language queries. Exciting times lay ahead.
Our GT Microsoft Business Solutions service line leverages our strengths in Technology, Business and People advisory to deliver Microsoft solutions to our customers, which deliver success, foster innovation and promote accelerated growth.
