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Ready to elevate your ecommerce brand?Get in touch with us at&nbsp;<a href="mailto:info@underwaterpistol.com" rel="noopener noreferrer" style="color: rgb(255, 255, 255);">info@underwaterpistol.com</a>or call&nbsp;<a href="tel:+442034677614" rel="noopener noreferrer" style="color: rgb(255, 255, 255);">+44 203 467 7614</a>.<h4> </h4>

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Charlie Semmence

<h2>The future of discovery: Chat GPT, Open AI, conversational commerce</h2>
 Last week, our Commercial Director Sophie Seaton joined a thought-provoking panel on the future of ChatGPT and conversational commerce at Klevu’s <a href="https://www.klevu.com/discovered/event/london/" target="_blank" rel="noopener noreferrer">Discovered</a> event. Along with <a href="https://www.linkedin.com/in/jakubhalva/" target="_blank" rel="noopener noreferrer">Jakub Halva</a> (<a href="https://www.tomandco.co.uk/" target="_blank" rel="noopener noreferrer">Tom &amp; Co.</a>), <a href="https://www.linkedin.com/in/dom-selvon-1488958/" target="_blank" rel="noopener noreferrer">Dom Selvon</a> (<a href="https://www.applydigital.com/" target="_blank" rel="noopener noreferrer">Apply Digital</a>), <a href="https://www.linkedin.com/in/nilayoza/" target="_blank" rel="noopener noreferrer">Nilay Oza</a> (<a href="https://www.klevu.com/" target="_blank" rel="noopener noreferrer">Klevu</a>) and <a href="https://www.linkedin.com/in/racheltonner/" target="_blank" rel="noopener noreferrer">Rachel Tonner</a> (Klevu), the panel discussed the ways AI has already impacted the ecommerce space, the potential it poses to brands looking to scale quickly, and the commercial implications of generative AI. You can watch the <a href="https://www.youtube.com/watch?v=A3TUcPE3Stc" target="_blank" rel="noopener noreferrer">full talk here</a>. Here are some of the key takeaways.
 
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<h2>Generative AI is already helping businesses create efficiencies</h2>
 Those who are embracing ChatGPT and generative AI technologies are already reaping the benefits. The panel shared some of the ways their teams are increasing productivity and creativity with this tech. For example, developers are using <a href="https://github.com/features/copilot" target="_blank" rel="noopener noreferrer">GitHub Copilot</a> to test and validate code, and ChatGPT to create otherwise time-consuming code documentation in a matter of seconds. From a content marketing perspective, copywriters are using generative AI to plan out and compose new pieces of content, giving them time back to reinvest in ideation, research and editing. There is a common misconception that AI is killing creativity. Instead, the panel proposed, it’s giving those who embrace it, time back to be more creative. In terms of clients, the panel expressed that they’ve seen a relatively low adoption of generative AI tech amongst their clients, but they anticipate that this will change as other brands demonstrate practical, revenue-driving use cases.
<h2>
 ChatGPT can give you knowledge, but not understanding
</h2>
 AI language models are trained to generate human-like text by processing vast amounts of language data. They can provide information and knowledge on a wide range of topics, but they do not possess a true understanding of the concepts they give information about. ChatGPT does not have a true understanding of the world or human experience, and it lacks common sense and context-awareness. This is an important distinction. The panel discussed that those who expect ChatGPT to have a complete understanding of complex subjects, or to be able to provide personalised advice, are missing the point, and missing out on the opportunities it presents. The most exciting and potentially powerful AI use cases will likely come from the specialist applications developed using OpenAI APIs, rather than mass adoption of ChatGPT in its raw form.
 
<h2>Retailers must adapt to this new tech or fall behind</h2>
 The panel compared the rapid development of generative AI technologies to the industrial revolution. It promises to be truly transformative, and those who effectively harness its capabilities now will see the most transformative results. The same goes for retailers. Retailers need to establish the ways AI can increase productivity, enhance their customer experience, accelerate their business strategy and deliver ROI, without damaging their brand. The uses of AI are varied and the possibilities it offers are numerous. Sophie suggested that brands should ensure they have a sound strategy to decide whether the adoption of emerging tech is the right move.
<h3>
 Is AI a good fit?
</h3>
 At UWP, we’ve developed a framework to assist brands in undertaking a deep financial and strategic assessment of the adoption of AI tools (and any other emerging tech). It helps brands ask and answer key questions such as whether adoption will accelerate or detract from their existing strategy, and whether there is sound ROI. To hear more, <a href="https://www.underwaterpistol.com/pages/contact" target="_blank" rel="noopener noreferrer">get in touch with us now</a>.
 
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<h2>
Brands should be wary of ChatGPT’s imperfections 
</h2>
ChatGPT is not perfect, and there are potential risks associated with using the technology extensively. The panel discussed the red flags brands should be aware of before investing heavily in this tech, including ChatGPT’s inherited biases, hallucinations, and ability to perpetuate misinformation. ChatGPT, like any AI technology, is only as good as the data it's trained on. It can (and has) inherited gender, racial and other biases from that data, leading to problematic outputs that reinforce existing prejudices and inequalities. ChatGPT can also hallucinate, or generate outputs that are not based on facts or reality. Essentially, it lies. This can lead to the generation of misinformation and potentially harmful content. The panel highlighted that it’s important to be cautious when implementing AI technologies, and that brands should be aware of its potential risks and limitations. While ChatGPT can be a valuable tool and source of inspiration, it should never be relied on as a source of truth.
<h2>
 Job will be lost, but there will also be new opportunities
</h2>
 When it comes to AI, many people worry about its impact on the workforce, specifically its ability to replace human workers. The panel agreed that this is likely to be the case in some industries, but also that there should be more focus on AI/human collaboration than an ominous AI takeover. People who rest on their laurels are the ones who may be at risk. Conversely, those who embrace the new technology to create efficiencies, and reinvest that time into innovation, ideation, creation and individuality, will excel. This active, open-minded approach would enable human workers to retain their distinctive contributions while working alongside AI “colleagues” to enhance their productivity and automate various other processes. 
<h2>
 Final thoughts
</h2>
 
In general, the panel agreed on the transformative potential of generative AI technologies for businesses and individuals. While there are some very real concerns around ChatGPT's limitations and potential risks, those who embrace the new technology in a considerate way will see the most transformative results. AI can increase productivity, automate tasks and support idea generation, freeing up time to reinvest in creativity and innovation. While job losses are a possibility, there are also opportunities for exciting collaborations between human workers and AI tools, and for the development of new products that create jobs. The key theme of this panel is that while it's important to be wary of its shortcomings, the future of generative AI is full of potential, particularly for those who get ahead of the game.

The future of ChatGPT and generative AI