How OpenAI is Shaping the Future of These 6 Industries
Modelingopenaiposted by ODSC Community March 23, 2023 ODSC Community
The past year has seen an explosion in the popularity, usage, functionality, and cultural currency that AI tools offer. There are few better examples of this than the release of ChatGTP by OpenAI, which gained over 1 million customers in only five days. One month later, this number had pushed past 100 million active users, eclipsing any other AI tool previously used.
Beyond just marveling at how advanced the tool itself is, many are turning to OpenAI’s creations as a way of expanding their own industries. Companies around the world are beginning to incorporate AI into their daily workflows, using this technology to increase speed and automate certain tasks.
In this article, we’ll dive into OpenAI’s usage across six core industries, exploring how each of these fields, in turn, is being shaped by artificial intelligence. Let’s dive right in.
1. Education and Learning
Over the pandemic, students across the globe moved on to online platforms to continue studying. These virtual spaces were initially controversial, but the world quickly adapted. With the rise of educational technology and virtual teaching spaces, this industry was rapidly moved into a more technologically forward age.
This storm of progress turned out to be the perfect condition for the launch of OpenAI into the field of education. OpenAI was integrated into online learning platforms as a way to facilitate better learning conditions for students. The artificial intelligence would analyze students’ behavior, tracing their interaction with the learning platform and then offering suggestions as to where students could improve.
Using NLP (Natural Language Processing), OpenAI was also able to create personalized learning content for different students, helping everyone to learn in their own way and at their own pace. Early tests of OpenAI in these environments were conducted at Stanford and Harvard, and boasted very positive impacts.
As education is one of the world’s most important industries, the ability for it to become enriched by the work of artificial intelligence is extremely exciting. Based on current estimates, OpenAI could become a core part of learning around the globe.
2. B2B Sales
Personalized marketing has quickly become a leading strategy in B2B sales over the past few years. While it boasts higher conversion rates, more profit, and boosted customer satisfaction, personalized content also takes time. While we can segment audiences, there’s only so small we can divide before we strain resources.
B2B sales platforms have set out to tackle this issue, offering businesses around the globe better ways of dealing with their customers and running their operations. Yet, with the landing of OpenAI, many leading SaaS solutions in the business services space are looking to enhance their products even further.
An example of this is Walnut, a platform that’s seen success over recent years by offering B2B sales teams a better way of launching personalized product demonstrations. Most recently, they’ve launched Walnut Ace, which is a form of their base software that’s enhanced with OpenAI.
With this combination of product-demo suite and AI generation, Walnut allows business representatives to script demo pitches in seconds, and answer questions about a product. This more efficient system allows businesses to craft and offer more product demonstrations, radically increasing the pace of the sales funnel.
For business services that are currently focusing on increasing their outreach and pulling in more customers, unique integrations between OpenAI and leading B2B platforms like Walnut seem like the next step forward.
3. Manufacturing and Automation
Throughout history, the manufacturing industry has been pushed and developed by technological breakthroughs. We can see this directly within the industrial revolution, where the introduction of mechanical systems radically changed the world of work forever. As we enter an era of AI-driven industry, it’s no surprise that manufacturing is seeing a new stage of technological automation.
OpenAI is being used in the manufacturing industry to automate systems across the world. Where there are repetitive tasks like data entry, AI can easily take over and save businesses money while doing so. On the more advanced end of the spectrum, OpenAI’s technology is also being used to create robots that can interact with the world around them.
These robots can be trained for specific roles, helping to reduce the human workforce that’s needed to run a certain operation. As this technology becomes more advanced and more precise, the roles that these robots can fill are only expanding. This is an industry where the future could truly be entirely covered by OpenAI.
Industrial automation has happened many times before. Artificial intelligence, it seems, is rapidly becoming seen as the next step.
4. Finance and Financial Systems
The financial services industry is rife with data, online systems, and continually updating platforms. Even something as major as the international stock exchange all comes back to points of data on a graph. Financial services are one of the industries that first come to mind when we think of automation, given that so much of their work already relies on technology and algorithms.
At present, OpenAI is being used within finance to reduce the workload of mundane tasks. From filling in datasheets to completing customers, it streamlines these processes and frees up time for other activities. It’s even being employed in more complicated financial system tasks, like balancing portfolios and developing ongoing business strategies.
On the human side of financial services, OpenAI is also being put to work to help with customer onboarding and application processing. With something as integral to our world as finances, there is always an endless list of new customers, paperwork to complete, and documents to fill out.
In these cases, OpenAI can streamline the process, increasing the speed with which businesses can finish integral processes while also decreasing inaccuracies. Human errors are a leading problem within financial systems, with OpenAI’s vigor allowing companies to be much more certain about the documents that they keep.
Especially with the arrival of natural language processing at the high level that OpenAI is currently demonstrating, this tech tool can help guide businesses to better financial decisions.
Retail is an industry that may first appear too human-orientated for AI tools to be integrated into. While the customer-facing side of retail and face-to-face purchasing is still going strong, all of the behind-the-scenes action of this industry is rapidly moving into a new digital age.
As with other industries, any of the monotonous paperwork that goes on behind the scenes of retail can be completed by OpenAI. This will radically decrease the time it takes to finish these tasks, allowing workers to spend more time focusing on customers and less filling out forms. Equally, all inventory processes can be automated, ensuring managers can remove this task from their to-do list accordingly.
OpenAI has also demonstrated the ability to help with customer data collection. Using AI-enabled cameras, this tool is able to directly scan human faces, then create a list of demographic features about the person. While not 100% accurate, this can be used to give information about someone’s age and gender, alongside other information that workers can then use to personalize their customer approach strategy.
While still in the early stages of development, OpenAI is also being used to understand human emotion to a greater extent. Using the aforementioned camera, workers can understand a customer’s emotions as the tool gives them a real-time report of micro changes in the body language of each individual. This will help when offering product recommendations, as well as building rapport with clients.
Finally, the aforementioned camera technology is also being used in the medical field. By using a mixture of AI and deep learning algorithms, OpenAI is building up a repository of medical images. By scanning patients and checking their injuries against this database, OpenAI is able to generate a baseline insight into what could be wrong with a person.
When a patient then goes into their appointment with a doctor, the doctor will have much more information, helping them to speed up the process of diagnosing. By giving this technology to consumers in the form of medical applications, OpenAI would also help people to learn more about any injuries they have from the comfort of their homes.
Down the line, this could serve to severely reduce the strain on global medical systems.
There’s a reason that the AI market is predicted to reach nearly $200 billion dollars by 2025. An annual growth rate of 36.62% doesn’t happen overnight, with advances in this industry having happened every few years. This most recent wave of innovation seems like the tip of the iceberg for what’s still to come.
As we can see, OpenAi is making its way into everything from business services to healthcare, with the sheer scope of fields impacted by this technology demonstrating its potency. If this technology continues to advance at the rate it’s currently moving, we’re likely to see even more exciting news to come out of this space soon.
About Author – Tim Ferguson is a tech writer and the editor of Marketing Digest. He enjoys writing about SaaS, AI, machine learning, analytics, and Big Data. He spends his free time researching the most recent technological trends. You can connect with him on LinkedIn.