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“The hardest part of getting started is always taking the first step”
Chatbots are what the Magnificent 7 have been building to transform AI. You’ll probably recognize most of their Pet Projects by now: Phind, Co-Pilot, ChatGPT, Google Gemini (previously Bard), Meta Llama 2, Claude, Perplexity.ai.
1. What is a Chatbot?
Let’s take something we are all familiar with (Search) and compare it to the new kid on the block (Chatbot). For simplicity, you could characterise it like this with a medical analogy:
Search is like a GP providing you with a list of general medical results that aren’t context sensitive or personalised.
A Chatbot is like a Consultant that recognises your personal circumstances and context and can produce tailor made medical reports through having a conversation with you.
And, according to Microsoft, the latter is going to replace the former.
2. How Does a Chatbot work?
How many words are in the English Dictionary?
The answer seems to be around 273,000 with nearly 172,000 in current use!
But that’s not the same as the words that an average person uses: that is around – 20,000 to 35,000.
So, if I was a clever programmer – and could train my program to learn how you use them everyday – then I’d probably be able to predict every word you are going to use and how you organise them in sentences.
But imagine if I was a really world class programmer with an unlimited vision of how I could apply this probabilistic approach: what would I do? Well I could create a gigantic Large Language Model (LLM) and with an enormous training budget and teach it to learn how every sentence is created by predicting the probability of the next word. Once I’ve done that I’ve got the foundation for a Global AI Chatbot.
In simpler terms, an LLM is a computer program that has been fed enough examples to be able to recognize and interpret human language or other types of complex data. Many LLMs are trained on data that has been gathered from the Internet — thousands of millions of gigabytes’ worth of text. But the quality of the samples impacts how well LLMs will learn natural language, so an LLM’s programmers may use a more curated data set.
3. How do you interact with a Chatbot?
You can interrogate a Chatbot for any type of Business Topic you want from Research, or Decision Making, or Marketing or Organising or Financial and HR. There are no practical limits.
Once you’ve got a Topic of Interest you can kick start by asking a general question (e.g. What’s the best way to write my business plan?).
You can follow up with a more specific question (for example, about your business sector). And you can add your own business plan information to feed into the AI as well.
You can request a specific type of output (for example, a Two Page Business Plan Summary).
In short, the usefulness of a Chatbot is only limited by the creativity of your topic choices and questions and the availability of relevant data. At a minimum it’s a cost saving tool and at best its a powerful strategic tool to gain a competitive advantage and create new opportunities for your business.
Find Out More
You can learn more about AI chatbots and their use in different industries and tasks.
For example, if you want to find out about the use of chatbots in different industries and business tasks you just ask Phind.com to get the answer: “Are there any chatbots that are specifically designed for certain industries or tasks?”
