Unleashing ChatGPT’s Potential to Enhance Value in Your Business
ChatGPT has generated an incredible wave of interest from users worldwide. Since its initial launch, ChatGPT managed to reach 1 million users in just four days and reached 100 million users within two months. Along with this growing interest, ChatGPT has continued to make significant developments, adding advanced features such as data analysis and image interpretation. These innovative features have sparked fierce competition across various demographics, from students to corporate executives, all racing to learn and leverage ChatGPT for greater productivity.
However, in the face of such rapid technological advancement, we also need to adopt a more modern approach. ChatGPT presents a unique challenge, where the ability to think emergently becomes a key factor. This involves the capacity to generate innovative ideas without fully understanding the problems that need to be solved. With ChatGPT, the future of innovation becomes increasingly open and exciting.
In a recent study conducted by Johnathan R. Cromwell and Jennifer Haase (2023), it was revealed that the thinking process underlying innovation like this begins with a deep understanding of the function of technology, then exploring how that technology can be applied to address problems in various fields. Additionally, thinking spontaneously also involves evaluating ideas without fully understanding success criteria, improvising ideas without thorough preparation or planning, and adapting project goals.
However, this spontaneous thinking approach often contradicts business practices that emphasize efficiency and reliability, and it may even challenge core principles in design thinking, where clear identification of user problems is the initial step before generating solution ideas. Nevertheless, it’s essential to understand that in utilizing ChatGPT, the spontaneous thinking approach is a crucial element that should be considered. In this context, there are three ways of spontaneous thinking that can help enhance the success of implementing ChatGPT while avoiding potential errors.
1. Maximize the value proposition advantages offered to customers
The first approach that can be taken is to leverage ChatGPT to maximize the value proposition advantages that the company has offered to its customers. Companies can start using ChatGPT without being limited to specific customer issues. This thinking process can indeed be a challenge, considering that business training generally emphasizes strategic thinking and the need to validate customer problems before investing time in solution development.
However, starting with strategic goals like this can sometimes obscure ChatGPT’s potential for new and valuable applications. Therefore, open your mind broadly and engage deeply with this tool to understand its core functions. Once you have a strong understanding, your natural cognitive abilities will start to work, and use the tool with relevant problems that you may be aware of.
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2. Exploring new opportunities
This second approach involves using ChatGPT to expand the company’s value proposition by addressing new challenges for customers while complementing existing services. The way a company can follow this path is by changing perspectives and understanding how to approach it. To think emergently, we first need to break down the value proposition into three core elements: customer objectives, the context in which those objectives are achieved, and the demographic characteristics of the target customers.
Once these elements are clearly defined, the next step is to evaluate how ChatGPT’s core functions (as outlined in approach 1) can help develop each of these elements in a new direction. This means we’re not just searching for solutions but also delving deeper into the problems.
In this process, keeping an open mind and refraining from hastily defining the problem is key. This can be challenging, especially in uncertain conditions often induced by the pressure to act quickly, as many companies face when using ChatGPT. However, research has shown that we can stay calm under such pressure and explore a wider range of innovative options. To achieve this, collaborating with trusted partners can help us deal with uncertainty more effectively and take greater risks together.
3. Exploring new value propositions
This final approach relies on harnessing ChatGPT to explore entirely new value propositions that may not have even been considered by customers as something they need. This innovation approach reflects pure, high-level thinking, with a high degree of uncertainty, and therefore must be pursued very carefully. The main challenge arises when attempting to pinpoint one problem to focus on amid dozens of issues identified during brainstorming, involving various objectives, contexts, and demographic targets (see approach two).
When an organization has a relatively clearer value proposition, it becomes easier to sift through problems that may seem too far-fetched or not likely to reflect valuable customer needs. However, when customer needs are still unidentified and evolving with technological advances, it becomes challenging for the team to reach a consensus on the direction to collectively take. This becomes even more complex when attempting to incorporate various crucial perspectives in the innovation process, as team members may steer the project in different directions despite strong collaboration intentions.
To help address these challenges, look for clear and coherent analogies that can encapsulate the core value proposition. For example, a startup called Tome uses ChatGPT to assist customers in enhancing the quality of online documents, videos, and digital content presentations. Instead of emphasizing specific benefits they can offer, they describe their product as an “AI storytelling partner.”
This simple concept helps integrate various features into a consistent product experience so that developers and customers can easily understand the conveyed value. By creating analogies for your product, you can avoid wasting valuable resources in developing features that may not support your core value proposition and help customers form a clear understanding of various features and why they might be beneficial.
Reference:
Cromwell, J. R., Harvey, J.-F., Haase, J., & Gardner, H. K. (2023, June 9). Discovering Where ChatGPT Can Create Value for Your Company. Harvard Business Review. https://hbr.org/2023/06/discovering-where-chatgpt-can-create-value-for-your-company?ab=HP-topics-text-3
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