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In an interview with the Hong Kong Economic Journal (HKEJ), our founder, Derek Ng, provided his insights on the evolving landscape of AI and chatbot technology. As the global AI wave continues to rise, particularly with the rapid adoption of ChatGPT, Derek highlighted the challenges and opportunities for businesses in developing their own chatbot solutions.
ChatGPT, a generative AI chatbot, has taken the world by storm, reaching over 100 million users by January 2024—a milestone that outpaced the growth of platforms like TikTok and Instagram. With its ability to generate text and provide answers in real-time, ChatGPT offers a level of interaction that surpasses traditional chatbots.
However, Derek pointed out that while ChatGPT has gained significant attention, it may not be the immediate solution for businesses looking to develop customized chatbots. He emphasized that the emergence of ChatGPT does not pose a threat to existing chatbot development companies or their continued relevance in the market.
During the interview, Derek explained that most businesses do not require a chatbot with the extensive, general knowledge base that ChatGPT offers. Instead, companies often need chatbots that are tailored to their specific industries and can accurately address customer inquiries within that context.
Derek humorously remarked, "If a company could develop a chatbot with industry-specific knowledge and conversational abilities on par with ChatGPT, it would essentially be an AI tech company."
He added that while ChatGPT serves as an impressive, general-purpose AI, businesses should prioritize chatbots that align with their unique operational needs.
Derek also shared his thoughts on the complexities of integrating AI like ChatGPT into business operations. He acknowledged that many companies are interested in leveraging ChatGPT but are concerned about its potential to deliver inaccurate or inappropriate responses.
He likened ChatGPT to an encyclopedia—vast in knowledge but not always aligned with the specific needs of a business. The development of industry-specific chatbots requires careful consideration of domain knowledge, language integration, and logical structuring to ensure the chatbot effectively communicates the right information.
In his forward-looking statements, Derek suggested that while ChatGPT currently operates as a general-purpose chatbot, the future may see the emergence of chatbots designed for specific job roles or industries. These specialized chatbots would offer more precise, relevant interactions for users, tailored to the demands of their respective fields.
Derek concluded by highlighting the importance of collaboration between businesses and professional chatbot developers to achieve these specialized solutions. While developing such advanced chatbots is no small feat, it remains a critical step in staying competitive in the ever-evolving AI landscape.
