What: Chat GPT has already changed the way millions of people work, and retailers should notice.

Why it is important: AI can help in gaining some productivity points, for instance in writing the content needed for product descriptions or social media posts.

ChatGPT, a language generation model, could revolutionize the way customers and retailers interact with each other in the retail industry in Australia. Futurist and author Gihan Perera believes that many businesses and retailers will use ChatGPT for language-related tasks such as social media posts, headlines, product descriptions and promotional video scripts for Instagram stories, TikTok, YouTube and so on. He believes that some large-sized businesses will integrate programs like ChatGPT into their own digital suite, while a smaller fraction will investigate other forms of AI, after experimenting with ChatGPT. Perera also states that ChatGPT, in and of itself, won't transform the retail industry, but it may act as a precursor to AI technology that will be transformative in the future.

One entrepreneur who has already started using ChatGPT, Lauren Yehezkel, the founder of reusable lid company Lydy, found that it improved her productivity immensely and that it's a handy way to relieve the stress of mundane tasks. It can even be seen as the first step in the adoption of AI within companies and learning how to intricate it into everyday tasks.

How retailers can use Chat GPT