As Microsoft moves to seamlessly integrate artificial intelligence into its search engine Bing, and Microsoft 365, ChatGPT has seen an influx in usage. Moreover, the recent release of ChatGPT 4 is sure to contribute to its continued growth in popularity.
There has been a strong uptake in the utilization of the AI tool. Results from a recent survey conducted by WorkYard regarding the utilization of ChatGPT 3.5 AI tool among small to mid-sized digital firms indicates that a considerable 40% of the 1,000 firms sampled embrace automation through the tool. This can be seen as evidence that the business world is gaining an appreciative stance towards the cost-saving abilities AI offers in terms of replacing human work resources.
The survey indicates that employing ChatGPT can be a beneficial strategy for businesses aiming to cut expenses.
Findings from the survey revealed that with ChatGPT 3.5, tedious tasks have become much less burdensome, freeing employees to focus on more important matters. Most importantly, it also leads to cost savings – from up to a 90% cut in staff recruitment costs for social media management to up to 24 cents savings per outgoing email – which translates to a sweet deal for employers. Furthermore, companies can save an average of $90 – $300 per blog post, $15,000 per month on customer service teams, and up to $4,000 per month by automating data analysis, as per WorkYard.
The survey states that introducing ChatGPT-4 to multiple industries could be the key to slashing costs. As far as video content creation is concerned, GPT-4 is capable of doing the animating and editing for you – saving you up to 60% of your budget. Similarly, letting the AI tool team up with AI-powered apps eliminates the need for individual training, cutting costs by 30-50%. Plus, Its advanced translation technique reduces translation expenses by up to 60%. As for programming, GPT-4 can assist developers by automating certain tasks and banks on a 30-50% cost reduction.