5 Ways Retailers Can Use ChatGPT To Make Customers Loyal

Photo from: Forbes

By Forbes

Retail companies, including Shopify, Instacart and Carrefour, have hitched up to the ChatGPT wagon. They’re testing videos and other features that answer questions, provide product information and make recommendations.

ChatGPT is the artificial chatbot, launched in November 2022, that’s been getting retail attention for its ability to answer consumer questions articulately and in detail, across vast areas of knowledge. Ask ChatGPT for advice on how to decorate a living room in fantastical ways, for example, and it will produce several AI-generated images.

That’s a pretty cool party trick. But here’s the “money” part of ChatGPT: It can store the knowledge it gains while solving one problem and then apply that knowledge to a different but related problem. In short, it can recall conversations and context, and therefore can pick up with customers where they left off.

And here’s the money part for consumers: ChatGPT does all this without the influence of advertisers, according to a story in Modern Retail. It’s also free, for now, to those who register for an OpenAI account.

(Notice: ChatGPT’s creators, OpenAI, in mid-March launched an advanced version, GPT-4, that is “more capable and accurate than the original ChatGPT,” according to The New York Times NYT -1.9%.)

The ChatGPT Pile-on Is On
A major caveat regarding ChatGPT is that it is not linked to the internet, and therefore cannot search for information online. Rather, ChatGPT generates responses to questions using information it was trained on from a large body of sources, including Wikipedia, news articles and books.

READ the full story HERE.