September 29, 2023

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Generative AI—how marketers can prototype, experiment and learn quickly and cheaply

The skills needed to run ChatGPT and similar tools effectively have given rise to new roles, such as prompt engineers or prompt designers. What you get out of ChatGPT is only as good as the prompt you put in. Developing those skills now will give your company a leg up when you’re ready to start implementing generative AI more broadly.

Explore the competition

ChatGPT isn’t the only generative AI on the block; it’s just the one that got the public’s attention first.

Despite the fervor, this tech is still early in its hype cycle. Most Big Tech companies have some version, at least internally, and there is a plethora of startups. Aligning your business goals with the potential for AI tools will help you decide which to adopt. Manufacturing, for instance, has different demands than retail or media, and you’ll have plenty of opportunities to find an AI tool tailored to your unique challenges.

You’ll also want to know what other companies’ tools and services will help you use generative AI better.

Don’t rush to market—but don’t wait too long

ChatGPT has created polarized responses. Some schools have declared types of homework obsolete, and JPMorgan Chase has restricted its use. Meanwhile, media companies are jumping into the fray.

Both reactions are prudent to some degree. Waiting too long means you’ll be left behind. Moving too fast brings reputational, data and cyber risk. Consider Google’s rush to show off Bard, its version of ChatGPT. After an incorrect answer in Bard’s first ad, Alphabet’s market value temporarily slid by $100 billion.

Short-term wins are nice but major disruptions don’t happen overnight. Could ChatGPT and other tools upend the search industry? Possibly. Will they replace multitudes of human jobs? Maybe. But becoming an early adopter also means you’re less likely to be disrupted in the future.

Proceeding with caution means researching, identifying use cases and creating cross-functional teams to prototype, experiment and learn quickly and cheaply before large investments are needed.

Taking a smart approach to ChatGPT and generative AI tools overall sets you up for sustainable success. The strategies you put in place now will position you for the next hot new thing that comes to market, as it surely will before long.


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