ChatGPT's growth in the marketing and advertising space is undeniable. It's quickly becoming the go-to tool for marketers to increase productivity, streamline processes, and better engage audiences. But as with any new technology, there are a few things marketers need to keep in mind if they want to make the most of ChatGPT.
ChatGPT got 1 million users in 5 days
ChatGPT, the conversational AI bot capable of producing human-like text, has had incredible success since its launch in November last year. In just five days, it gained one million users! People have been using it for all sorts of purposes, including writing short stories, prose, music, and term papers, basic programming code, solving math problems or doing translations.
Other popular online services have taken much longer to hit the one million user mark. For example, it took Spotify and Dropbox five and seven months, respectively. Social media services usually take a bit longer to gain one million users, but they were founded more than 15 years ago. This shows that online services can attain users faster as the internet becomes more omnipresent over time.
ChatGPT in Growing Artificial Intelligence Market
The global artificial intelligence (AI) market was estimated at US$ 119.78 billion in 2022. It is expected to hit US$ 1,597.1 billion by 2030, with a registered CAGR of 38.1% from 2022 to 2030.
You can see from Google trends data that interest in AI grew as interest in ChatGPT grew. This could be attributed to people becoming more aware of AI as people find tools like Dall-E or ChatGPT.
The growth of AI will continue to power the growth of ChatGPT, and it appears to have just started. Marketers should capitalize on the opportunities that ChatGPT provides to increase their efficiency, better engage audiences, and save time.
It's worth getting familiar with this powerful technology. Many resources are available to help you get up to speed so that you can start using ChatGPT for your business needs today.
The next version of ChatGPT4 is expected to be even more powerful and user-friendly than the current version. It will contain features like natural language understanding, keyword search, and text summarization.
In addition, new modules for machine learning tasks, such as sentiment analysis and conversation flow management, are planned for release in the near future.
The cost of content creation will significantly decline
If you want someone to write 1000 words for you, it would cost at least $10. But there is a machine that can do it for $0.025. This machine is called Davinci and is made by OpenAI. Another machine called DALL·E can make pictures for $0.02. So companies can save money by using machines to do work like writing articles or making new designs instead of hiring a team of people.
The cost of content creation will significantly decline thanks to AI. ChatGPT and Davinci can help marketers create content quickly and cost-effectively, allowing them to focus on other areas of their business.
This is not necessarily bad news for marketers, as many people may demand a discount as the cost of content generation declines. However, if a marketer can put more effort into quality and creative thinking, they can still earn more by adding more value to their customers or end users.
More content supplied to the market means more demand for quality
When it costs less to make something, more people start making it. So if you want to sell something or get published, you have to try harder because more people are trying to do the same thing.
People who are good at creating content will have an advantage because they can create higher-quality work.
As marketers, it is important to remember that using ChatGPT and other AI technologies can produce more content in less time with better quality. This means you will be able to stand out from the pack of competitors who may not be adept at using these technologies.
I think this is where people will be needed more, and it will be hard for AI to replace them.
There will be a lot of content made by machines in the future. Some of it will be very similar to what humans can make. This will make it hard to know what is real and what is not. So it will be important to have content from a trusted source that looks good and is accurate.
How people curate content becomes more important than creating it
Now that machines can help create content, more content is becoming available. This means it's not just about creating content but also about curating it in a way that appeals to the right people.
People who can identify what audiences want and ensure they get the best version of it will be highly valued. Content curators will be the ones who can help marketers capitalize on the opportunities presented by AI technology.
Using ChatGPT, marketers can increase their efficiency and better engage audiences with content created faster and cost-effectively. They need to ensure quality content and curate it so it reaches the right people to maximize the technology's benefits.
By understanding how to use ChatGPT and other AI technologies, marketers can easily live with and benefit from these tools to remain competitive in the ever-changing digital world. Thus, they can create a successful digital marketing strategy today and be prepared for whatever may come tomorrow.
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