In my upcoming book, “ChatGPT: Revolutionizing Business Applications with Next-Gen AI Technology” I’ll cover different aspects of ChatGPT and its practical applications in the business world. This blog post is a condensed version of part of a chapter from the book, modified to suit a blog format. I talk about ChatGPT and how its Plug-in can be used from AIGC to AIGX.
These are just a few examples of AIGX:
- AIGT: AI Generated Transaction — Personalized Vacation Planning, where ChatGPT provides personalized vacation planning for Alice and finalizes transactions by purchasing air tickets, booking a rental car, and reserving a hotel room using various travel sites APIs which are part of ChatGPT Plug-ins.
- AIGL: AI Generated Loan, where ChatGPT assists a loan officer, Jane, in processing a loan application for a customer named Bob by using various Plug-ins and APIs such as Customer Data API, Loan Products API, and Loan Application API to fetch data, suggest suitable loan products, and automate the underwriting process.
- AIGA: AI Generated SaaS Applications, where ChatGPT generates customized SaaS applications for small businesses or startups by analyzing their requirements, generating application code on-the-fly, deploying it using cloud provider APIs, and providing a URL to access the new application.
With its powerful plug-in, ChatGPT has opened up a world of opportunities for businesses and users alike. Whether you need AI-driven solutions for streamlining business transactions, optimizing workflow processes, or generating on-demand SaaS applications, ChatGPT has got you covered. With the ability to amplify productivity by 10x, 100x or more, ChatGPT represents a paradigm shift in the way we do business. Don’t miss out on this game-changing technology that is transforming the economy as we know it.
The following are just a few examples of AIGX.
1: AIGT: AI Generated Transaction — Personalized Vacation Planning
Alice wants to have a memorable vacation, so she turns to ChatGPT for assistance. By utilizing a browser plug-in and APIs like recommendation and profile APIs, ChatGPT provides a personalized destination based on Alice’s preferences. After Alice confirms her choice, ChatGPT finalizes the transactions by purchasing air tickets, booking a rental car, and reserving a hotel room using various travel sites APIs which are part of ChatGPT Plug-ins.
2: AIGL: AI Generated Loan
As we can see from the following figure, loan origination and the loan application can be facilitated and generated by ChatGPT and its Plug-in.
Figure 1: AIGL: Using ChatGPT and its Plug-ins to generate Loan
A. The user, Jane, a loan officer at a bank, needs to process a loan application for a customer named Bob. She decides to seek assistance from ChatGPT and enters the prompt.
B. ChatGPT prompts Jane to use the Plug-in to log in to her bank account, which securely stores her profile and relevant data.
C. Once logged in, ChatGPT uses the Plug-in and Jane’s profile to invoke the Customer Data API. This API fetches Bob’s personal and financial information, including credit score, employment history, and debt-to-income ratio.
D. ChatGPT then uses the Plug-in and Jane’s profile to invoke the Loan Products API. This API provides data on the bank’s available loan products, including interest rates, terms, and eligibility criteria. Using this information, ChatGPT analyzes Bob’s financial profile and suggests the most suitable loan product.
E. ChatGPT presents the suggested loan product to Jane, breaking down the factors that contributed to the decision. Jane reviews the information and deems the suggested product appropriate for Bob.
F. Before submitting the loan application, Jane decides to consult Bob for his approval. ChatGPT uses the Plug-in and Jane’s profile to invoke the Customer API and the ChatAPI. This enables a secure communication channel with Bob, allowing Jane to share the suggested loan product details with him and request his permission.
G. Bob reviews the loan product information and gives his consent for Jane to proceed with the application.
H. With Bob’s approval, ChatGPT uses the Plug-in and Jane’s profile to invoke the Loan Application API. This API submits the loan application for Bob, including all necessary supporting documents.
I. ChatGPT uses the Plug-in and Jane’s profile to invoke the Loan Processing API, which automates the underwriting process. The API evaluates Bob’s creditworthiness and returns an approval or denial decision, along with any additional conditions.
J. Jane receives the loan decision from ChatGPT and can now proceed with the next steps of the process, such as informing Bob, preparing loan documents, or exploring alternative options if the application is denied.
3: AIGA: AI Generated SaaS Applications
Traditional software development and hosting can be time-consuming and expensive, especially for small businesses or startups. However, with ChatGPT’s capabilities, developing and hosting a SaaS application can be simplified and streamlined.
Example: On-the-fly CRM System Generation for a Small Business
A small business owner, Sarah, needs a customized CRM system to manage her growing client base. She cannot afford to develop a full-fledged CRM system from scratch or pay for an expensive subscription. Sarah turns to ChatGPT for assistance.
A. Sarah provides a prompt to ChatGPT, detailing her CRM requirements, such as contact management, lead tracking, and email marketing functionalities.
B. ChatGPT analyzes Sarah’s needs and generates the CRM application code on-the-fly using prompt engineering. It creates an application tailored to her business requirements, ensuring that it covers all the necessary features without any unnecessary bloat.
C. After generating the CRM application code, ChatGPT invokes cloud provider APIs, such as AWS or Google Cloud, to deploy the application. The deployment is done using Kubernetes or serverless architecture, ensuring that the application is secure and can scale according to Sarah’s business needs.
D. Once the CRM application is deployed, ChatGPT provides Sarah with a URL to access her new custom CRM system. Sarah can now manage her client base, track leads, and execute email marketing campaigns with her tailored CRM solution.
E. As Sarah’s business grows, she might require additional features or changes to her CRM system. ChatGPT can handle updates and modifications on-the-fly by reiterating the prompt engineering process and redeploying the updated CRM application.
As we have discussed in the blog, with its latest Plug-in, ChatGPT is capable of performing a wide range of tasks that can revolutionize the way we do business. No longer limited to generating content, ChatGPT can now streamline business transactions, optimize workflow processes, and even generate on-demand SaaS applications. This evolution from AIGC to AIGX marks a new era in AI-driven solutions, offering endless possibilities for both businesses and individuals. ChatGPT’s plug-in has paved the way for a new kind of economy, where productivity can be amplified by 10x, 100x, or even 1000x more.
Do you have other ideas for AIGX? What can this X be? Please leave me some comments and let us get the discussion going!
