ChatGPT—the recently launched language processing AI model developed by OpenAI—has been “wowing users with its uncanny abilities to hold conversations, write essays, and even program computers,” according to an update shared with CI.
However, the real value of conversational AI for digital commerce companies “lies in its ability to truly ‘learn’ how a business operates.”
Beerud Sheth, CEO of Gupshup—which claims to be the global leader in conversational messaging— has commented on developments related to conversational AI such as ChatGPT, its many benefits for marketers this past holiday season and beyond, and how e-commerce companies can “put it to practical use.”
Sheth has shared:
- The science behind AI chatbots: Trained with 570 GB of data from books and all the written text on the internet, ChatGPT is an impressive example of the training that goes into the creation of conversational AI.
- Real-life benefits: The real and tangible results of AI automation for ecommerce companies, such as the retailer that saw $500K in sales on WhatsApp during a one-month period of Diwali and Black Friday campaigns (achieving 10X higher ROI than conventional channels).
Sheth added:
“Pre-built journeys and AI chatbots promise high payoffs. A 2022 survey by McKinsey & Co. shows that companies are shifting the workload away from transactional, repetitive queries to solution-oriented interactions. Nearly two-thirds of those surveyed that decreased their call volumes identified improved self-service as a key driver.”
Over 100,000 businesses reportedly “rely on Gupshup’s conversational messaging platform, including Google, Verizon, Citibank, McDonald’s, and Amazon.”
Gupshup claims that it “processes over six billion messages per month; in 2021 alone, it raised $340 million, entering the unicorn club with a valuation of $1.4 billion.”
As noted by its management, Gupshup claims that it “enables better customer engagement through conversational messaging.”
They are one of the leading conversational messaging platforms, “powering over 6 billion messages per month.”
Across verticals, thousands of large and small businesses in emerging markets “use Gupshup to build conversational experiences across marketing, sales and support.”
Their carrier-grade platform “provides a single messaging API for 30+ channels, a rich conversational experience-building tool kit for any use case and a network of emerging market partnerships across messaging channels, device manufacturers, ISVs and operators. Businesses have made conversations an integral part of their customer engagement success.”