OpenAI kicked off its first-ever DevDay, a pivotal event that had AI buffs buzzing with excitement.
While today was packed with hefty tech updates, the real gist is about enhancing life for all - including entrepreneurs like yourself.
Here are the top three game-changing updates you need to know.
Because of these changes, businesses can get creative with their marketing and make every dollar count.
So, let's break down these updates and see how they can amp up your daily grind and keep your business's heartbeat pumping strong.
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The Latest Breakthrough in AI: GPT-4 Turbo
By far the biggest announcement at DevDay was OpenAI's latest brainchild, GPT-4 Turbo, which is teeming with some pretty impressive enhancements that really deliver.
It's designed to be more efficient, understanding recent events up until April 2023, and it can handle a vast amount of text—over 300 pages in one go.
Imagine having an assistant who never needs to take a break and can sift through reams of information in minutes! And what's better, it's now easier on the wallet with serious price drops in usage costs - so even small businesses can hop on board without breaking the bank.
How GPT-4 Turbo Can Level Up Your Local Business
Keeping Your Finger on the Pulse
With its updated dataset, GPT-4 Turbo lets you tap into fresh events and trends. This is key to crafting catchy marketing content and smart business choices that hit home with today's audience. Plus with it's ability to browse the internet, it can always search for even more relevant and up to date information in a matter of seconds.
Cost-Effective Content Creation
The ability to process a large amount of text, we're talking 96,000 words, means you can generate quality content like blog posts, articles, and product descriptions without the big price tag. This could be a game-changer for businesses looking to boost their online presence without hiring a full-time writer.
Enhanced Customer Interaction
GPT-4 Turbo's improved responses can provide a more human-like interaction. For customer service, this means fewer canned responses and more satisfied customers feeling like they're getting the personal touch.
Marketing Magic
GPT-4 Turbo's ability to analyze historical data can help tailor your marketing efforts with targeted content and ads that speak directly to your audience's interests.An example of this could mean your ad spend should get more mileage by scoring higher engagement rates and in turn leading to a boost in sale conversions.
Image Understanding
GPT-4 Turbo can now generate and process images. In essence, your local business could level up its game by acing social media interactions, creating visually striking content and understanding customer-shared photos to supercharge the service it delivers.
With these latest features from GPT-4 Turbo on their side, local businesses are going to be able to level up— by creating more compelling content, nailing marketing strategies and offering customer service that really hits the mark.
Businesses need to get creative and strategic with their limited budgets, and by using personalized AI to connect better with customers it will help them stand out from other competitors.
GPTs: Personalized AI for Every Business Need
The next major announcement from DevDay is that OpenAI is releasing something pretty special called GPTs.
Think of these as customizable helpers that you can tailor to do exactly what you need in your business.
You can set them up with specific instructions, provide them with internal business knowledge, and give them a specific skill set to assist with.
The best part is, to create these GPTs, you can use natural language. No coding required!
The same way you would converse with an employee to understand a job or task, is the same way you can construct these GPTs to assist you in your business.
Tailoring AI to Your Business's Needs
Customization on Your Terms
GPTs are designed to adapt to how you run your business. By using natural language, you can customize these AI to work exactly how your business needs. No more one-size-fits-all; this is about an AI that fits like a glove to your business needs.
Community-Driven Innovation
The beauty of GPTs lies in the community around them. If you've got a knack for coming up with clever business tools, you can create a GPT that reflects that ingenuity. Share it with others, or keep it for your company's exclusive use. The best part of GPTs is the size of OpenAI's user base, you'll have access to loads of community driven ideas on how to build the most useful GPTs to assist your business.
A Marketplace for AI Tools
Soon, there'll be a GPT Store. Here, you can find GPTs crafted by others or even share your own. Imagine an app store but for AI tools that could help streamline your business processes. If you use a specific software to operate your businesses, the company that develops it will likely create a GPT that can intergate with the software unlocking incredible potential.
Privacy and Safety First
With GPTs, your data stays your data. You're the boss of what gets out there, making sure neither your company's nor your customers' privacy takes a hit. OpenAI has gone all out to ensure their GPTs are secure and reliable for everyone's use.
Real-World Tasks, Meet AI
Eventually, you'll be able to have GPTs take on real-world tasks. Looking for a savvy AI to tidy up your inbox, lend a hand with customer scheduling, or even handle your order management? That's where we're heading, with GPTs acting like digital employees who are always on the ball.
Basically, GPTs are like a big jump toward having your own personalized AI sidekick for your business.
You could train a GPT to be an on-boarding assistant when you hire a new employee, so if they have a question about a process, they can instantly get an answer back.
If your a restaurant, you could build a GPT to help optimize reservation bookings based off of historical bookings and help then you build a schedule to meet the estimated demand.
Really the potential here for local businesses is limitless and it's up to your imagination as to how you want them to assist you in running your business.
As GPTs start to roll out in the coming weeks, you better believe we're going to have lots to share about them, so keep your eyes peeled on our blog.
Multimodal Support: A New Dimension for Local Businesses
If you've been a ChatGPT Plus user for a while like I have, you've probably encountered this exact scenario.
You're ten prompts deep into a chat, and need ChatGPT to go fetch some information online to assist with what you're chatting about, only for it to say "I'm sorry, I don't have the ability to browse the web." You then realize you've started a default GPT-4 chat, and not the web browsing version, and now you have to restart everything in a new chat with web browsing enabled.
Well with today's multimodal support announcement, having to switch between different features in your chat is going to be a thing of the past. GPT-4 Turbo can understand the content of what you're asking it and then use the proper tool to assist with it.
This could mean uploading an image and GPT with Vision kicks in to understand what it's looking at in the picture, it can then switch over to web browsing to search for relevant results, and finish it off with generating a new image using DALL-E 3. All with in one single chat, where previously you would have needed to have a different chat for each enhancement.
Unlocking Creative Potential for Your Business
From Visuals to Actionable Insights
With the ability to analyze images, GPT-4 Turbo can provide detailed captions, dissect real-world scenes, or read documents with embedded visuals. This could completely revamp tasks like inventory control, where AI's helping hand in sorting through product photos or reshaping store layouts can make customer navigation a breeze.
Enhanced Customer Service
Imagine a customer shows a picture of a product they're looking for, and the AI can identify it and guide them to where they can purchase it in your store. This is a powerful enhancement to help make your shopping experience more accessible for customers who are vision impared.
Speech and Translation Services
With the incorporation of technologies like the Whisper API, businesses could have the AI transcribe meetings or customer interactions, create transcripts, or even translate content into different languages. This basically lets your services be more user-friendly and also extends a warm welcome to those who aren't native English speakers.
In essence, multimodal support in GPT-4 Turbo is like giving your business a set of super-senses.
It can 'see' and 'hear,' turning those perceptions into customer interactions, marketing materials, and business insights.
It's all about moving from what AI can simply explain to you, towards it actually painting a picture for you—creating a more engaging and vibrant experience for both your customers and team.
Wrapping Up the Big News from OpenAI’s DevDay
Wrapping up our look into OpenAI's DevDay, it's clear these new tools are here to help your business grow. With GPT-4 Turbo, custom GPTs, and multimodal support, there's incredible potential for local businesses to capitalize on AI in the coming year.
While at first it may seem like fancy tech, these new AI tools can actually help small businesses make every dollar count. You have the potential of gaining practical helpers for everything from answering phones to crafting eye-catching ads without having to shell out the big bucks only huge companies can afford. They're geared up to handle the nitty-gritty, so you can zero in on what truly stokes your business enthusiasm, while they manage the minutiae.
So, keep an eye out as these new features start popping up. It's an exciting time to think about how you can use these AI tools to give your business a boost.