ChatGPT technology contribution in business innovation, policy and management

Abstract

Purpose This paper aims to discuss a novel artificial intelligence (AI) model known as Generative Pretrained Transformer (GPT), specifically ChatGPT, and its potential applications in the corporate sphere. It highlights the significance of ChatGPT in the realms of corporate innovation, management and policymaking. Design/methodology/approach ChatGPT is explained as an AI language model produced by OpenAI, using the GPT framework and extensive training on natural language data. This paper addresses the model’s capabilities to respond to natural language queries resembling human interactions by reviewing the available literature as well as the professional websites. Findings This paper discusses the advantages of ChatGPT in a business context, emphasizing its potential benefits. It also critically examines the limitations of ChatGPT, including ethical considerations, data interpretation challenges, reliability and privacy-related issues. Originality/value This paper contributes to the discourse surrounding ChatGPT’s role in business innovation, management and policymaking. It highlights both the potential and limitations of this AI technology, offering insights into its implications and future research directions for corporate applications.

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