10 industries that are experimenting with ChatGPT

Sascha: [00:00:12] From Equity Mates media. This is the dive. I'm your host, Sascha Kelly. By now you've hopefully heard of chat GPT. And if you're like me and you've spent more than a couple of minutes playing with it at some stage, you must have had that moment of existential dread as you thought. How long until this technology takes my job? From the outset, fear not. That's still a while away. Chat GPT is still often just getting things wrong. Here at Equity Mates HQ, we asked it for a blurb on an Australian software company and it gave us a description for a real estate investment trust. Now that's just not right. We shared a few other examples in our thought starters email last week and that included ChatGPT telling users that the Philadelphia Eagles won the Super Bowl and that Croatia left the European Union in 2022. So take a deep breath while ChatGPT still needs a fact checker. We're a long way from taking our jobs. But with that being said, the era of experimentation, it's begun. Companies all over the world are testing, incorporating chat into their processes, and workers are finding ways to be more efficient at their jobs. So we wanted to take stock and see what the most exciting experiments are happening. It's Wednesday, the 15th of March, and today I want to know what are the emerging use cases of chat GPT to talk about this today. I'm joined by the co-founder of Equity Mates and my colleague. It's Alec Renehan. And Alec, welcome to The Dive.

Alec: [00:01:50] Hi Sascha. This should be a fun episode today. 

Sascha: [00:01:52] I spent hours on chat. I think it's so much fun. 

Alec: [00:01:55] I think we all have. I think, you know, especially in a media business like this, you do start to look at your job and you say, how long am I going to be able to do this better than the computers?

Sascha: [00:02:06] And how can this computer help me? Which is what we're going to dig into today, because one of the most surprising headlines that we read recently is that the Coca-Cola Company has partnered with Open AI, which is the company behind ChatGPT.

Alec: [00:02:21] It seems that in every investment fad, we find a lot of companies really try and embrace it. We had a bunch of companies at blockchain to their name in the middle of the crypto boom of the last few years. Then Web3 started showing up in companies, pitch decks and the like. Now you just want to partner with open AI, even if you've been making soft drink for over 100 years.

Sascha: [00:02:46] With the same recipe presumably as well. Like I don't know what it's going to help them do Coca-Cola.

Audio Clip: [00:02:52] Company is getting deep into the artificial intelligence game, thanks to a newlink deal that will see it partnering with OpenAI.

Alec: [00:02:58] In a statement, Coke's CEO James Quincey said the company is, quote, excited to unleash the next generation of creativity offered by this rapidly emerging technology. How Coke plans to unleash the next generation of creativity in its soft drink remains to be seen. But it was just a real example for us that every company from every industry is trying to figure out how ChatGPT and generative artificial intelligence fits into their business. 

Audio Clip: [00:03:31] Opening Ice Chat Bot Chatbot has been making headlines because of its advanced capabilities to do things such as coding, writing ads and even passing the VA exam despite its advanced capabilities. You can use it in your everyday life for simple, everyday tasks to make your life easier. 

Sascha: [00:03:47] Yeah. So while it remains to be seen with Coke, there were some more novel tests with this technology that we could actually get information on. So what industries are we going to look at today? 

Alec: [00:04:00] Now, we came across this article from Quartz qz.com that looked at ten Industries, and so shout out to them for doing the heavy lifting for us. We'll include a link to the original article in the show notes. But Sascha, the ten industries that we're going to look at today are travel, the legal system, real estate, marketing, education, politics and law, health care, media, technology and construction.

Sascha: [00:04:26] So let's start with the most glamorous and probably, well, I know web buyers going on trips soon to different parts of the world. Let's start with the travel industry. What's going on there?

Alec: [00:04:38] Sascha, we're going on the same trip.

Sascha: [00:04:40] Oh, yeah, I know. But then we're going on to other things. We're not on holiday together.

Alec: [00:04:48] Right. So let's make sure you haven't forgotten. 

Sascha: [00:04:53] Well.

Alec: [00:04:54] Travel Weekly Travel magazine tested to see how. Now its travel recommendations would compare with those produced by a travel agent with years of experience. The report was JPT. It was great for the Google-able questions like What is the best luxury hotel in Paris? But when it was asked for more personal recommendations, it lacked a bit of nuance that came from the advisor. 

Sascha: [00:05:23] And the best luxury hotel in Paris is such a subjective question as well. You know, how are you ever going to give the definitive answer to that?

Alec: [00:05:33] Great question, Something I probably have to ask today. But speaking of asking, because, Sacha, we are going on part of a trip together. 

Sascha: [00:05:45] I love fact checking on the fly. Yeah. What did you just ChatGPT about our trip, Alec. 

Alec: [00:05:52] The Equity Mates team. A number of us in the Equity Mates team are going to Omaha, Nebraska for Warren Buffett's annual general meeting, Berkshire Hathaway's annual general meeting in May. So I asked ChatGPT for three Can't miss places in Omaha, Nebraska. And here's what he told me. 

Sascha: [00:06:11] I'm really excited for this.

Alec: [00:06:12] The Henry Doorly Zoo and Aquarium, this world renowned zoo is a must see attraction in Omaha. Okay. The old market district. The Old Market district is a historic and charming district located in downtown Omaha. And Bob Kerrey, pedestrian bridge, this beautiful pedestrian bridge spans the Missouri River and connects Omaha, Nebraska, with Council Bluffs, Iowa. It is the longest pedestrian bridge to connect two states. What do you think? 

Sascha: [00:06:41] Look, Alec, it sounds to me like we've got homework to see whether those three places really do live up to their amazing description. But that's certainly one of the examples we've got. The second is the legal system, one of the examples that we've got here.

Alec: [00:06:57] In Cartagena, Colombia, we saw the first legal decision from a court using ChatGPT. The case involved a dispute with a health insurance company over whether an autistic child should receive insurance coverage for medical treatment. According to court documents, the legal questions entered into ChatGPT included an autistic minor exonerated from paying fees for the therapies and has the jurisprudence of the Constitutional Court made favourable decisions in similar cases. The judge included his full responses in his decision, reportedly marking the first time a judge has admitted to doing so.

Sascha: [00:07:42] Admitted being the crucial word there, right? 

Alec: [00:07:45] Yeah. I'm also not sure I want ChatGPT to answer at least the first of those questions, but that's one example. Another one from New Zealand and a state lawyer asked ChatGPT to write his will.

Sascha: [00:07:58] Oh, that one sounds actually quite useful, Alec. 

Alec: [00:08:01] Yeah, no, ChatGPT won't write a real will. But if you ask ChatGPT to write a hypothetical will, I think that's how this lawyer got around its restrictions. So a couple of examples of the legal system testing out ChatGPT.

Audio Clip: [00:08:19] Some of the most advanced AI programs are convincing to us, and they present misinformation or information that's incomplete or just outright wrong, not necessarily for the purpose of tricking us, but because these systems are still somewhat new. 

Sascha: [00:08:34] So real estate number three, how are they using the new technology? 

Alec: [00:08:39] Sascha One of the worst parts of being a real estate agent, according to the reports that we've read, is writing listing descriptions. Apparently, they're quite tedious and get quite repetitive. And that is the kind of job that's perfectly suited for ChatGPT. So next time you're on realestate.com.au Or domain, you might be rating a listing description from ChatGPT rather than the real estate agent themselves. 

Sascha: [00:09:05] I need a fact check Alec, on whether that's really the worst part of a real estate agents job, but we'll leave that for another day. Marketing is another area. What are the examples that we're seeing there now? 

Alec: [00:09:17] This is a wild one. We came across one company that specialises in video marketing that's making fully A.I. videos from start to finish. 

Audio Clip: [00:09:27] First, I need a script. I'll open up, ChatGPT and prompt it with this. Write a script in the style of a YouTube video about how to make an apple pie. The video should be under 60 seconds long. The script should feel friendly in nature.

Alec: [00:09:42] In time there would be no human involvement. He uses ChatGPT to write the script for the video, and then it uses another platform synthesiser to create an avatar video of a person. And then it uses a third platform called to script. Which adds visuals to go alongside or to cut between the video avatar. So between these three platforms, you could create a fully AI driven video production process.

Sascha: [00:10:12] The next one that you've added on the list is the one that I think was seen hand-in-hand with most of the headlines when ChatGPT was first coming to our attention. And that's education, as I think that's the one that most people see as the obvious use cases for ChatGPT. Are there any surprising developments in this area? 

Alec: [00:10:33] Yeah, well, if you want a $1,000,000,000 business idea, create a turnitin for AI generated university in school essays.

Sascha: [00:10:43] Are you giving everyone that one for free? Like you didn't even put any of it on it. You are just giving away that billion dollar idea. [00:10:48][5.5]

Alec: [00:10:49] The idea isn't the tough part there, but there are some teachers and professors who have taken the approach. If you can't beat them, join them. And one example of that is from the Wharton School at the University of Pennsylvania. One of the professors there, Ethan Mullick, has actually integrated ChatGPT in his class. And rather than getting his students to write essays on the topic, he asks his students to teach ChatGPT about it and suggest improvements, I guess, from what ChatGPT originally write. Oh, that's really so. Yeah. Embracing it rather than trying to avoid it. The other example we say in the education system, and I'm sure a lot of teachers will be embracing this writing lesson plans can be incredibly time consuming and there are reports of a lot of teachers just handballing that off to ChatGPT. [00:11:43][54.4]

Sascha: [00:11:44] Why don't we take a break there? We've still got five more examples to get to, including lawmaking, health, industry and tech itself. And let's talk about those in just a minute. [00:11:54][10.1]

Audio Clip: [00:11:56] Openai, the San Francisco based Start-Up that created chatbot, opened the tool up for public testing in November 2022. In under a week, the model amassed over a million users, according to OpenAI CEO. By the end of January, ChatGPT was averaging about 13 million visitors per day. [00:12:13][16.7]

Sascha: [00:12:14] Welcome back to The Dive. Today we're talking about how different industries are embracing and using chat. Here's one thing that you can get ChatGPT to do for us right now, and that's to write a podcast review and put it in Apple. It is such a huge help for us to get those five star reviews that get to us in front of the ears of other people. It's a tiny thing for you to do. Look, you don't even need to be creative. You can just use the technology and let us know. 

Alec: [00:12:43] How do you see right now how this incredible chat bot might affect people's careers and how it might affect people's careers in a few years? 

Sascha: [00:12:52] Here's another industry, and that's lawmakers. How is legislation being influenced by ChatGPT?

Alec: [00:12:59] Earlier this month, the Massachusetts State Senate wrote a bill to regulate generative A.I. using chat tape. Apparently it couldn't write the whole law, but State Senator Barry Finegold was quoted as saying It got us 70% of what we needed when we wanted to draft this bill, but it didn't get us all the way. Still writing 70% of a law to regulate ChatGPT There's a certain irony to that.

Sascha: [00:13:30] The law that they ended up writing, how does it regulate generative A.I.?

Alec: [00:13:35] Yeah. So this is the first of what we should expect to be many attempts to regulate generative A.I.. There were some pretty basic ones, so the largest generative A.I. companies had to register with the Attorney General's office there to disclose information about their algorithms. They had to conduct regular risk assessments and have certain numbers of security measures. So nothing that you really wouldn't expect a few things around data privacy requiring consent from users before processing information requiring companies to de-identified information. But here's one that I thought was particularly interesting, Sascha, and ties back to the education point we were making earlier. This law would require large scale A.I. models to be programmed to generate all text with a distinctive watermark or offer an authentication process to detect plagiarism. So that would solve the charge. I wrote my essay. Important to stress this law I don't believe passed or maybe in been the process, but I don't think it's a law yet. 

Sascha: [00:14:44] Another industry is the health industry and using chat as a diagnostic aid. Can you tell me a bit more about this?

Alec: [00:14:53] Yeah. So physicians have started experimenting with ChatGPT ability to diagnose patients and one doctor called ChatGPT quote, eerily good. But as you said in your introduction, Sascha ChatGPT has a habit of just getting things wrong and confidently telling you what. Anyway, apparently there were a few examples where ChatGPT just made up diagnoses, so if there's any doctors out there don't stress too much ChatGT isn't coming for your job yet, but as a physician, I'd like something to help in diagnosis. It seems pretty compelling. 

Sascha: [00:15:32] Yeah, it brings a new meaning to getting a second opinion when you've got ChatGPT helping you out there.

Audio Clip: [00:15:37] I'm a bit worried. Tell me, what is this new ChatGPT thing? What role is it going to play in our future?

Sascha: [00:15:44] This one in particular really caught our attention and that's media and publications. Basically, this is how we are going to use ChatGPT. But what's actually happening here? 

Alec: [00:15:57] Yeah, I think every major news outlet has written this article was written by ChatGPT articles.

Sascha: [00:16:05] Certainly guilty as they don't need to. 

Alec: [00:16:06] We probably don't need to stress this one too much. Yeah, we did a podcast scripted by ChatGPT. Important to stress for any media entrepreneurs out there. ChatGT has only been trained on data up to 2021, so if you want to write a story about, you know, the cricket result on the weekend, it won't have that data yet. 

Sascha: [00:16:29] Second last industry I like is tech. Our colleagues used to write our new daily game business model, which side note is a great way to start your day basically word for businesses, you've just got to guess what the business is in. Five clues or less. That's it. Have you played today? Oh. 

Alec: [00:16:51] I have. And it actually took me three goes today, so it's pretty tough. Yeah. There's a whole world of writing code that Jupiter is now helping with. Importantly as well, it's also helping debug code. So rather than having to run code and try and figure out what the error is or what's causing the issue, you can now ask ChatGPT to tell you what the output of a certain snippet of code would be and it can help people debug code a lot faster. So yeah, pretty compelling use cases both in writing and fixing code. 

Sascha: [00:17:27] And the last industry is construction. Now the obvious question might be how on earth does a chatbot help you build things? But the answers are all in project management, isn't it? 

Alec: [00:17:38] Academics from New York University, Abu Dhabi gave each chapter a floor plan, a list of tasks and a scope of works, and asked it to generate a schedule for the construction work. And while not perfect, JP was able to do the job, it was able to assist with basic project management. So if you've got a complex task at your work and you're trying to get your head around how you tackle it, maybe jump onto ChatGPT and ask it to give you a hand. 

Sascha: [00:18:09] That's the best way to end this. Alec We've only covered ten industries, but there's so many more and there's so many innovative ways people are playing with this technology. So we want to hear from you. How are you experimenting with ChatGPT Send us an email, our address is thedive@equitymates.com. I've also popped it just there in the show notes. And remember, you can give us a huge helping hand by taking 10 seconds, 30 seconds to write a really quick review and follow us. Subscribe wherever you're listening to this podcast. Alec, thanks so much for joining me today to talk all about ChatGPT.

Alec: [00:18:45] Thanks, Sascha. 

Sascha: [00:18:46] Until next time.