Harvard Business School Professor on using A.I. to optimize your small business

as a small business owner let's say I'm
a small business owner I immediately
think hey can I really afford to
implement changes within my business do
I have to buy expensive GPU chips to to
implement this like what do the smaller
players do
well look I think the first thing is
everybody should go get accounts in
three places right get chat GPT plus get
Bing Bing chat and I love this new
service called po poe.com which has
multiple different AI models available
to you and those are about 20 bucks a
month and all of a sudden what you get
to see is the power of generative AI
being applied to your business and I
think about generative AI for small
businesses in three different categories
one is in all your consumer contact and
we can talk more about that one in sort
of you as a thought partner with you uh
to think about your businesses and new
ideas and the third thing is to think of
it as your super assistant being able to
do many things that are drudgery for you
today
free but if money was constrained which
one would you pick
oh I would pick chat GPT Plus okay and
and for the customer Bing is free Bing
is Microsoft has made Bing free so you
have that as well but what about the
quality sometimes the answers aren't
always correct right between three and
then there's debate about like chat GPT
3.5 and chat gbt4 should as a business
owner should we be concerned about the
accuracy that's being spewed back at us
well so I think that the use case is
very different right so the use case is
not information search for information
search you still want to go to Google
and you know verify the sources but the
way I think about chat GPT is really
it's a thought partner and is lowering
the cost of cognition learning that
helping us with new ideas and new new
considerations a cool example that I
first came across when I knew this was
important was a VC in California was
helping a sort of uh immigrant
businesses in in lawn care and fence
care and so forth and typically they had
you know not great English skills and he
would help them communicate with them
create the right text messages create
the right emails for them so they could
communicate with those customers all of
a sudden you know now these
entrepreneurs could literally put their
you know their broken English into chat
GPT and get perfect Harvard English
perfect Oxford English you know perfect
whatever English you wanted in the
communication so all of a sudden they
had this new superpower which were
before or English communication through
text was very difficult and now it
became super easy that's just one
example of the various things you can
start to do if you think about small
businesses and they need a social media
strategy they need something to come up
with in terms of all the tweets they
need to do all the Facebook posts they
need to do all the tick tock videos they
need to create well ideas for them can
be generated through chat GPT so here
you're not basically asking it for a
particular factual information you're
thinking with it and it's thinking back
with you and coming up with ideas and
they're amazingly implementable ideas
that you can put put into practice right
away