You may have heard of or tried ChatGPT by now, an exciting emerging technology that looks to disrupt software, communication, search engines and many other established industries. If you haven’t, Chat GPT is an AI Chatbot developed by Open AI. The chatbot has a language-based model that the developer fine-tunes for human interaction in a conversational manner.
Effectively it’s a simulated chatbot primarily designed for customer service; people use it for various other purposes too though. These range from writing essays and creating content to drafting business plans, to generating code. Microsoft is heavily interested in AI and has already invested in Open AI. We’re going to explore some of the improvements this powerful tool could support Dynamics 365 in the future.
ChatGPT can be used to analyze user behaviour and preferences within Dynamics 365 to provide personalised recommendations and insights. For example, it could analyze past purchases, browsing history, and customer support interactions to suggest personalised product offerings, pricing, and promotions to each user. This could be achieved through natural language processing of customer requests or by analyzing data within Dynamics 365 to provide personalised recommendations.
ChatGPT can be used to analyze historical data in Dynamics 365 to identify patterns and make predictions about future outcomes. This could help businesses to make informed decisions about inventory management, marketing campaigns, and customer engagement strategies. For example, it could be used to forecast sales volumes, customer churn rates, or product demand. By identifying trends and patterns, businesses can make better decisions that improve efficiency, reduce costs, and increase revenue.
Natural language processing
ChatGPT can be used to improve the natural language processing capabilities of Dynamics 365, enabling users to interact with the software using natural language commands and queries. This could help to reduce the learning curve and improve the overall user experience. For example, ChatGPT could be used to recognize the intent of a customer support query and automatically route it to the correct support team or provide a suggested response. This could help to improve response times and reduce the workload on support teams.
ChatGPT could be used to analyze customer sentiment within Dynamics 365 to identify trends and opportunities for improvement. For example, it could be used to analyze customer support interactions to identify common pain points and areas where improvements could be made. By identifying patterns in customer sentiment, businesses can make targeted improvements to their products, services, and support offerings, improving customer satisfaction and loyalty.
ChatGPT could be used to generate content within Dynamics 365, such as product descriptions, marketing copy, or even customer support responses. This could help businesses to save time and resources on content creation, while still ensuring that the content is high-quality and tailored to the needs of their customers. For example, it could be used to generate personalised product recommendations or promotional offers, based on the customer's browsing and purchase history.
ChatGPT could be used to detect fraud within Dynamics 365, by analyzing patterns and anomalies in customer behaviour. For example, it could be used to detect fraudulent orders, account takeovers, or other types of fraudulent activity. By detecting fraud early, businesses can take action to prevent losses and protect their customers from financial harm.
ChatGPT could be used to forecast sales volumes within Dynamics 365, based on historical data and other factors such as seasonality or market trends. This could help businesses to make better decisions about inventory management, production planning, and other aspects of their operations. By having accurate sales forecasts, businesses can optimize their operations to meet demand and avoid stockouts or overproduction.
Microsoft has already invested in AI and begun embedding it across the Dynamics platform in the last few years, we saw examples of this in the Marketing application with automatic image tagging, as well as natural language queries for building audience segments. Microsoft has recently invested $10 billion into ChatGPT to look at ways to embed the tech across their family of products. We can say with high confidence that Dynamics 365 and the Power Platform will be included in this investment to improve the productivity of businesses and enhance the customer experience.