ChatGPT had a big public moment last November (2022) when its developer, OpenAI, made it open to anyone and everyone with an Internet connection.
A decade-and-a-year earlier, IBM Watson made a similar big-splash public debut when it competed on Jeopardy—and won!
Both are examples of conversational computing platforms performing at a high level.
Much of the work here involves Natural Language Processing (NLP) and information retrieval. A question is a prompt that sets the chatbot’s algorithm into motion: Analyze the data, find significant patterns, predict what the output should look like, and generate that output.
Sounds simple, and it really kind of is, at least in the abstract.
ChatGPT Has Made Its Mark
So, why has the former captured the public’s imagination for a sustained period of time? Five months, which is an eternity-and-a-half in Internet Time, have passed since ChatGPT’s debut, yet its name is still on everyone’s lips.
Yet, IBM Watson’s Jeopardy was yet another example, much like the famed Turing Test, that gave people a profound glimpse at the power of AI, yet people sort of…moved on, waiting for another example of AI to blow their minds at a later time.
Now, ChatGPT has made a lasting impression, one that has shown the world just what AI is capable of.
Perhaps the strongest explanation for this difference in sustained-impression-making is that ChatGPT is/was interactive so that users could get firsthand experience of interacting with AI. Meanwhile, IBM Watson’s Jeopardy run was more spectacle than interaction.
However, that spectacle made a deep impression on one group of people: Business owners across a variety of industries.
How Many Business Owners Use IBM Watson?
For starters, 70% of global banking institutions use IBM Watson.
13 of the top 14 Systems Integrators use IBM Watson.
And 99% of companies that employ IBM Watson report saving money by using this conversational computing assistant. On average, about 5.50 USD is saved per automated conversation.
These kinds of stats speak to the reliability and quality of IBM Watson.
For instance, Lufthansa uses IBM Watson to hold personalized conversations with customers to design ideal trips.
IT costs were cut by 40% for Greenworks Tools after implementing Watson into its supply chain operations.
If these high-profile enterprise clients are giving you the impression that you need deep pockets to purchase Watson for yourself, then do not be mistaken: Even small business owners can take advantage of Watson!
What Makes Watson Quality and Reliable?
ChatGPT is a conversational computing platform that can do quite a bit, but is not exactly masterful at anything.
IBM Watson, on the other hand, has been trained to hit very specific conversational targets, such as having a successful conversation with a bank’s customer seeking information about a loan.
When ChatGPT makes a flub in a poem, it is no big deal. It is charming, even. ChatGPT is not perfect, but for the purpose of having a wow-factor technology, it is good enough.
But given the track record of making errors, do you really want ChatGPT speaking with your customer base? Imagine if ChatGPT gave a bank’s customer inaccurate information about possible interest rates for a loan.
With IBM Watson, which has been fine-tuned over the past decade, you can rest easy knowing customer interactions will go smoothly.
GO AI to Grow Your Business
Predicting the prices of raw materials with 99% accuracy. Finding out your customer churn rate well in advance. Analyzing your marketing materials to find out where viewers’ eyes will go, and in what order.
Guardian Owl Digital knows that AI is not the future—it is right now. And right now, businesses everywhere are making use of their data with AI platforms.
GO AI is our artificial intelligence initiative that offers you cutting-edge AI tools through our partnership with Findability Sciences.
We offer everything from automated chatbots that can converse with your customer base, to advertising programs that use computer vision to optimize your creative marketing strategies.
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