Monographic

ChatGPT and generative AI: What are the opportunities and challenges for SMEs?

08 Nov 2023. 09:24
5 min. of reading
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Tags

  • SME maturity
    All
    Topic
    1. Inteligencia Artificial
    Scope to digitize
    1. Digital organization

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Artificial Intelligence consists of using computer systems to simulate the actions of a person in order to automate tasks. If you want to know how generative AI can help your SME, don't miss this monographic.

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Executive summary

Generative AI is a very popular and constantly growing branch of AI, being “responsible” for the creation of Chat GPT or applications such as DALL-E.  

It has the ability to create new content in a variety of media, such as text, images, videos, audio and code, after receiving instructions from the user.

Generative AI represents a world of opportunities for any company, and the key is to learn how to use it ethically, bringing out its full potential.

Its main uses are:

  • Content generation
  • Customer service and sales
  • Research
  • SEO strategy or web positioning
  • Summaries and Information Extraction
  • Translations or copywriting in other languages
  • Sentiment or behavioral analysis
  • Process automation
  • Image and video generation
  • Computer code development
  • Music generation

These uses have a number of benefits for SMEs:

  • Specific intelligence: the ability to imitate human-level intelligence.
  • Creativity: allows experimentation with new ideas, images, services, or content.
  • Design and customization: tailored to specific customer needs.
  • Accessibility: many tools are open and even free.
  • Reduction of repetitive tasks: with the automation of processes.
  • Productivity and cost reduction: by saving time and cost in generating content, products or services.
  • Advanced data analysis: allows a large volume of data to be analyzed efficiently. 
  • Integration: can be integrated into most products.
  • Disruption: it is constantly evolving.

Challenges:

  • Monopoly: a few companies have the capacity to develop it.
  • Possible misuse of technology:
    • Fake news
    • Deepfakes (images and videos in which the image of a real person is manipulated).
    • Impersonation.
  • Definition of ultimate responsibility.
  • Errors or generation of inaccurate results.
  • Intellectual property and legal challenges
  • Fear of staff replacements. The use of IA should be complementary and supervised.
  • Reproduction of biases or prejudices, as they are based on previous information.
  • Environmental impact due to the energy resources it consumes.
  • Enough regulation but without its excess preventing innovation.

Application tips

To limit its risks, it is necessary to apply it following some guidelines:

  • Human supervision
  • Verify and validate sources
  • Provide clear instructions to obtain the most accurate answers.
  • Train the AI to fit the need of the SME or startup
  • Check for biases
  • Transparency, communicate that AI is being used or has been used.

Regulation

In recent years, the European Commission has pushed for various regulatory proposals that lay the groundwork for ethical use of AI. Of particular note are the ethical guidelines for Trustworthy AI (from the high-level expert group on AI) and the proposal for an Artificial Intelligence Act in 2021, which would be the world's first comprehensive AI law and is in the process of legislative development.

Tools

The following are the main tools on the market of interest to SMEs:

  • Transversal:
    • Azure OpenAI Services: to use different generative AI models but in a commercial way, for specific use by enterprises.
  • Generate content in text:
    • GPT CHAT/ GPT-3
    • Hypewrite
    • HuggingChat
    • Jasper
  • Images and visual content:
    • DALL-E.
    • MidjourneyAI
    • Openjourney
    • Dreamstudio
    • Canva
    • Photosonic AI
    • Adobe Sensei
  • Videos:
    • D-ID
  • 3D models:
    • NVIDIA GauGAN.
  • Music:
    • MusicLM
    • Jukebox
  • Automation:
    • Bardeen

 

The knowledge of these technologies is fundamental for the whole of society, including SMEs, due to the power of innovation and transformation that they imply. Their use brings great benefits, but also entails challenges, and must therefore be carried out in an ethical and transparent manner.

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