Applied Quantitative Analysis (AQA)
Vol. 3 No. 2 (2023): December 2023

Exploring the Implication of ChatGPT AI for Business: Efficiency and Challenges

Md Arman (University of Asia Pacific)
Umama Rashid Lamiyar (University of Dhaka)



Article Info

Publish Date
27 Dec 2023

Abstract

This empirical study examines ChatGPT's impact across various business sectors, evaluating its benefits and challenges. Specifically, the study analyzes how ChatGPT AI transforms business operations and enhances customer experience across customer service, e-commerce, healthcare, finance, marketing, and developer services. Drawing on a comprehensive literature review, this study identifies and analyzes the key applications of AI in the business sector, the benefits realized, and the challenges encountered in its adoption. The study explores the implications of ChatGPT AI for businesses, including its potential to improve efficiency, reduce costs, and enhance competitiveness. Additionally, ethical and legal considerations for the use of ChatGPT AI in business operations are evaluated, including data privacy, bias, and transparency. The study provides insights into future directions for the application of ChatGPT AI in business and the potential impact of this technology on various business sectors. The objective is to provide a comprehensive review of ChatGPT's effects on businesses, its potential benefits, and the challenges companies face when adopting this technology. Overall, this study highlights the importance of considering both the benefits and limitations of AI adoption across industries, as well as its ethical and legal implications.

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Journal Info

Abbrev

aqa

Publisher

Subject

Decision Sciences, Operations Research & Management Mathematics Social Sciences

Description

Applied Quantitative Analysis (AQA) provides practician, academicians, and other relevant professionals throughout the world with the opportunity to exchanges and disseminates theoretical and practice-oriented papers for the advancement of quantitative methodology. The focus and scope of AQA are but ...