As of February 2023, ChatGPT is used by over 100 million people, making it the fastest growing online service in the history of the Internet.
Traditional business coaches are limited by experience, but ChatGPT’s knowledge is almost limitless.
Provided with the right data points and context, it can disrupt and facilitate business leadership.
There are potentially hundreds of use cases today. From defining audience personas, analyzing customer data and generating insights to creating customer behavioral profiles.
The traditional time-consuming process of creating these business deliverables has become much more efficient.
Generative AI gives leadership teams access to insights beyond the limits of an individual or single advisor.
A recent example was a project for one of our clients in the financial services sector. Using AI to help CEO identify strategic priorities, her AI research focuses on core business areas across leadership and culture, customer centricity, technology enablement, skills and team effectiveness. I made it possible to try.
Should Accountants Fear ChatGPT?
Enter your responses into ChatGPT to advise on themes before generating a SWOT analysis and prioritizing eight strategic priorities with detailed implementation steps.
The tool’s recommendations were impressive from minimal input and identified opportunities for change, including:
- Introducing a framework to explore and prioritize new disruptive business models
- Develop ideas to foster a culture of continuous improvement
- How to develop accountability and feedback within your team
Having said that, is ChatGPT a direct replacement for strategy advisors? No, it’s safe for the time being. However, this is a point that is always debated.
ChatGPT Eliminates “Proders”
Our view is clear. ChatGPT is a great assistant or sidekick. When used in conjunction with human capabilities, it can stimulate new thinking and significantly reduce the time to find solutions. However, human involvement is still required to determine strategic direction. Only we can ask technology the right questions and validate the answers it provides.
Large Language Models (LLM) like ChatGPT’s features are well documented to suffer from “hallucinations”. LLM may provide factually inaccurate information, but it is very certain that it does.
Rapid engineering techniques exist to overcome this, but not all recommendations can be blindly followed. A professional should rubber-stamp that output.
In the short term, ChatGPT will play a supporting role for many of us, but in the long term, the technology will have a disruptive impact at the board level of companies of all sizes.
The effort has already started at Japanese venture capital firm Deep Knowledge, which recently welcomed an AI robot to its board. Dubbed Vital, the service was commissioned to provide insight into market trends that are “not readily apparent to humans.”
And this is what we plan to do. He has been experimenting with ChatGPT and innovating to recommend his current and future use of ChatGPT to customers, from the manufacturing floor to the boardroom.
