The Ripple Effect of Open Ai and how to harness Chat GPT for Real Estate - Fifth Avenue REM mediaiqdigital tracking pixel
Market Intelligence, Peerage Partners, Real Estate News | February 3, 2023

THE FUTURE OF MARKETING WITH ARTIFICIAL INTELLIGENCE

Let’s start by addressing the most concerning parts of AI before we get lost in where it’s going. Open Artificial Intelligence (AI) has been around for over 7 years, and the recent viral sensation of Chat GPT is only the tip of the iceberg. There are a number of concerns related to Open AI and the use of AI chatbots such as Chat GPT, including but not limited to: 1) ethical concerns and biases in data models which can create unfair or discriminatory practices base on the data models or transparency, 2) autonomy and accountability issues, 3) security, privacy and control issues, and 4) misuse issues in the form of Deep-fake videos and images, spreading misinformation, digital impersonation or other harmful uses. Needless to say, there is still a lot to consider when you think about using AI and Open AI within your business. This doesn’t mean it is completely unreasonable to use in your day-to-day life while at work; it’s how you use it that creates an issue.

Now with the seriousness covered and out of the way, it’s important to note that we have been utilizing AI for several years already to help us automate and create efficiencies in our everyday life with apps like Siri, Alexa, and Google Home pods, travel apps like Hopper and Airbnb, as well as your delivery and grocery apps like SkipThe Dishes or Door Dash. We have been surrounded by AI this whole time, from navigating our way through unfamiliar places to facial recognition for unlocking our iPhones. We have already seen the impacts of this technology take over by constructing minor conveniences that will help us live more efficient lives.

WHAT IS OPEN AI & CHAT GPT?

Let’s dive into this a little more and talk about Open Ai. Open Ai is an artificial intelligence research and language model that can generate human-like text. It can be used to generate reports, analyze data, and perform other tasks that would typically require a human to do. This can help businesses save time and resources by automating repetitive tasks and allow marketers to focus on more strategic activities. With its ability to understand and respond to prompts, Ai can be used to create high-quality, engaging, and unique content quickly and efficiently. For example, a marketer could use generate blog posts, product descriptions, social media posts, and even email marketing campaigns. Ai can also be used to generate captions, headlines, and other elements of visual content to make them more engaging.

Another use case for Open Ai is the platform ChatGPT, which can aid in marketing for customer service. With its ability to understand and respond to natural language, ChatGPT can be used to create chatbots and virtual assistants that can assist customers with their inquiries in real time. This can help businesses save time and resources by automating repetitive tasks, such as answering common questions. ChatGPT can also be used to analyze large amounts of customer feedback and identify key trends and insights that can inform customer service strategy. Website SEO optimization can become a breeze with its ability to understand natural language, ChatGPT can help businesses identify the keywords and phrases that are most relevant to their industry and target audience. This can help businesses optimize their websites and other online properties for search engines, which can drive more traffic to their sites and ultimately lead to more conversions.

HOW CAN I LEVERAGE CHAT GPT?

Overall, ChatGPT can help industries like real estate, publishing, law, and tech by saving time and resources by automating repetitive tasks, creating accurate content as well as providing valuable insights and data that can inform strategy across the board. Some examples of how ChatGPT could be used in marketing include:

  • Generating high-quality content, such as blog posts, product descriptions, and social media posts
  • Writing legally binding copy for addendums, listing documents, contracts, and responses
  • Responding to leads and customer inquiries in real-time, such as through chatbots or virtual assistants
  • Analyzing large amounts of customer feedback and identifying key trends and insights
  • Assisting with keyword research and SEO optimization, and meta tags
  • Dynamic Pricing, Calculating Mathematical equations, and complicated formulas
  • Competitive Research and analytics through automated email processes
  • Automated Database rankings based on online engagement and cookies
  • Video Reels and Outlines for YouTube, Instagram, Facebook, or TikTok
  • Call scripts, text translations, subtitles

WHY SHOULD I CARE ABOUT AI AND CHAT GPT?

Now to be clear, there is a more important distinction here that needs to be made, and that is between an algorithm and AI because these tools are very different in intention and development. An AI is a computer system that can learn and make decisions independently. It can do this by analyzing data and recognizing patterns or by using algorithms to make decisions. An Algorithm is a trained set of commands that is required to complete a task, much like Zapier, which is an automation tool that can complete a given objective like sending an email or moving information from one place to another based on the set of commands that have been provided – this is an algorithm that you can make yourself. This can also become integrated with AI to produce content like dynamic pricing, chat responses, and predictive information based on the commands. In summary, AI and algorithmic automation can be leveraged together or independently, but when they are used in tandem for the right purpose it can be a very impressive feature to add to any business that will continue to learn as you feed the program more data.

There are important conclusions to draw from the use of Chat GPT and how you apply it to your business, simply creating a boatload of content will not help you in the long run. If you don’t personalize the responses that you are receiving from Chat GPT then you are going to end up with the same outputs as your competitors, google will decrease your content rankings because it was generated by Ai and will no longer serve your content to the audiences that are searching. The use of AI is not meant to do the work for us, it is up to us to utilize this tool as a resource to get to the source faster than ever to aid in the development process. There is still an inherent need for personalization that is required from a human to even think about replacing the human from the process. For now, at least that is, which transitions the conversation ironically to the future of Chat GPT.

THE FUTURE OF MARKETING WITH ARTIFICIAL INTELLIGENCE

We are on the 3rd iteration of Chat GPT and it is currently free to users as the company Open Artificial Intelligence (AI) works through updates and an open testing period where anyone can sign up to use it for free until the day comes when they close that door and release the paid public and business subscription versions of Chat GTP Pro, the illustration below is what Open AI is forecasting for the scale of the next generation of Chat GPT, this doesn’t even begin to illustrate the sweeping changes coming our way from Ai, this does, however, imply that it’s going to be bigger than we could even predict at this point. In summary, get in there and test it out, and try to learn off YouTube or TikTok videos too. Just don’t forget that this is not a copy-and-paste tool, you need to add the personality and context that Ai simply cannot replicate.

In Businesses today we are already using Applications like Email filters and Google-targeted advertising, other examples include:

  • Bidding on programmatic media buys in digital advertising channels like Facebook ads, Google ads
  • Select the Right Message, headline, or tagline, or create a response with a specific tone
  • Granular Personalization by creating a specific set of instructions and understanding of a process
  • Lead Generation, Chatbots, and text campaigns to create a conversational experience that is offered 24/7
  • Predictive Marketing Analytics by using our data to stimulate results for forecasting/projections
  • Marketing Operations, Granular personalization creating overall efficiencies and elaborating on information
  • Dynamic Pricing, Calculating Mathematical equations, and complicated formulas

IMPORTANT CHAT GPT FACTS

  1. Google’s guidelines currently say not to use AI-generated content for SEO purposes. In fact, expect the content (especially long-form copy) to be watermarked using advanced algorithms. Copy/pasting the outputted text won’t help either. The watermarking methods are not embedded in the code itself, but rather in the sequence of words/letters in the output which creates something like a “signature” that can be detected (and potentially penalized) by search engines.
  2. Chat GPT’s training data cut off after 2021, so don’t expect to know the current state of the market, current events, or anything like that.
  3. It can give you biased, or sometimes completely wrong responses.
  4. The entire service goes offline all the time since it’s exploded in popularity. I’m sure they’re working on it but expect growing pains.
  5. It doesn’t know about your real estate council’s rules, ethical guidelines, etc. So DO NOT rely on it for sensitive tasks.
  6. It does not have MLS® data. Even if they change the timeframe of the training data, it still won’t have direct MLS® data access.

 

VIDEO LEARNING CONTENT

Chat CPT Explained in 5 Minutes  – https://www.youtube.com/watch?v=3ao7Z8duDXc
ChatGPT Explained: What to know about Open AO’s Chatbot – https://www.youtube.com/watch?v=qqxdsooKggE
What is Chat GPT? Open AI’s Chat Explained – 10 Minutes – https://www.youtube.com/watch?v=o5MutYFWsM8

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