AI is Only as Good as the Problems it Solves

"AI is only as good as the problems it solves." This simple but profound statement underscores the importance of practical, real-world applications for artificial intelligence (AI). While services like ChatGPT have gained a lot of attention for their impressive language processing capabilities, they may not always be the most effective solution for solving real customer problems.

Don't get us wrong, ChatGPT and other text-based AI services are undoubtedly impressive. They can generate realistic-sounding text, translate languages, and even assist with customer service inquiries. However, many of these use cases are relatively superficial and don't necessarily address the underlying issues that customers may be experiencing.

For example, a customer may have trouble understanding the differences between various finance offers and the effect that they could have to their needs over the long term. While ChatGPT could potentially answer their questions and provide some guidance, it may not be able to address the root cause of their confusion. This is where more fully tailored AI services, like the ones we're working on at Vision Funding, will make a significant impact.

Beyond ChatGPT and our in-house software, other AI services are helping us solve real problems at Vision. For example, we're using AI to make every phone call crystal clear, even in a noisy office environment. AI-powered noise-cancelling software provided by Krisp.ai monitors all our phone calls, seamlessly filtering our background noise and ensuring that customers and introducers can communicate clearly and effectively with our team. Beyond the obvious benefit, this has a meaningful impact on their overall experience with our company, helping build stronger, more lasting relationships.

Of course, Krisp.ai is just one example of how existing AI services can solve real customer problems. Countless other applications exist, from AI-powered data analysis to predictive analytics, that help businesses better understand their customers and provide them with more effective, personalised solutions.

The key is to focus on practical, real-world applications for AI that address specific pain points or challenges that customers are facing. By doing so, businesses can demonstrate their commitment to their customers and differentiate themselves from competitors that may be relying solely on superficial AI solutions, if any at all.

So, while ChatGPT and other text-based AI services are undoubtedly impressive, they may not always be the most effective solution for solving real customer problems. As a business, Vision Funding is focusing on practical, purpose-driven, AI applications behind the scenes to improve the overall customer experience in ways that aren't immediately obvious.

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