Chatbot business ideas suggested by ChatGPT

• Companies can explore numerous AI chatbot business ideas depending on interests and target audiences.
• ChatGPT reckons integrating your chatbot with popular messaging platforms or developing a standalone app will allow for a broader userbase reach.

The Chatbot has existed for some time before ChatGPT, the AI chatbot with advanced conversational capabilities, came about. But when the OpenAI-owned generative AI chatbot was launched, it wowed individuals and organizations with its intellectual, human-like responses. The rise of ChatGPT eventually gave birth to countless business ideas that made many further despise the chatbot concept from pre-ChatGPT days, which lacked intelligence and empathy.

ChatGPT has been deemed the Holy Grail in the AI community simply because of its ability to hold a perceptive conversation and exchange banter with more personality than a predictive search engine. The generative AI chatbot is powered by GPT-4, the most powerful and impressive AI model yet from OpenAI.

As The Guardian puts it, “If ChatGPT is the car, then GPT-4 is the engine: a powerful general technology that can be shaped down to several uses. You may already have experienced it because it’s been powering Microsoft’s Bing Chat.” But GPT-4 can be used to power more than chatbots, the article reads.

“Duolingo has built a version of it into its language learning app that can explain where learners went wrong, rather than simply telling them the correct thing to say; Stripe is using the tool to monitor its chatroom for scammers; and assistive technology company Be My Eyes is using a new feature, image input, to build a tool that can describe the world for a blind person and answer follow-up questions about it,” The Guardian added.

In short, a chatbot can generate many business ideas, so Tech Wire Asia took it up with ChatGPT and asked for its recommendations. After all, according to MarketsandMarkets, the chatbot industry is estimated to grow from US$5.4 billion in 2023 to US$15.5 billion by 2028.

Here is the list of chatbot business ideas based on ChatGPT’s response.

Personal shopping assistant

For an e-commerce business that intends to have a chatbot included as part of their services, personalizing the experience helps them to stand out among competitors. Besides assisting users in finding products based on their preferences, budget, and style, the chatbot can be made to make personalized recommendations, compare prices, and facilitate purchases.

Language learning chatbot

Duolingo, an app designed to help people learn any of 40 languages, has recently entered the chatbot game. Duolingo Bots now use AI to allow users to have life-like interactions. The Bots can work with thousands of potential responses, but if you hit a snag, you can also type “help me reply” for extra assistance.

Based on ChatGPT’s recommendation, among the many business ideas, building an AI chatbot that helps users learn a new language is one of them. The chatbot can be made in such a way that it can provide language lessons, practice conversations, and offer vocabulary and grammar exercises.

Travel Assistant Chatbot

Although the travel industry is growing exponentially to keep up with demand, there’s more competition than ever. If you have a business in this field and you’re looking for a way to boost sales, save time, and stand out from the crowd. That is when chatbots come into play, and according to ChatGPT, businesses can develop a chatbot that assists travelers with planning their trips entirely. 

It can suggest destinations, provide information on flights and accommodations, offer travel tips, and even create itineraries. In all honesty, chatbots can be built within minutes, trained once, and deployed as soon as possible. In that way, repetitive tasks and customer interactives can be automated for travel companies and agencies.

Fitness or financial advisory coach

A chatbot that acts as a virtual fitness and nutrition coach is among the few other chatbot business ideas that ChatGPT has recommended. “It can provide personalized workout plans, offer healthy recipes, track progress, and provide motivation and guidance,” the OpenAI tech responded when asked.

Even a chatbot offering financial advice and guidance is worth pursuing. “It can help users with budgeting, provide investment recommendations, offer insights into savings strategies, and answer common financial queries,” according to ChatGPT’s response.

AI-based recruiting tool

ChatGPT has recommended developing an AI-based recruiting tool to make it simpler to find and recruit suitable candidates. A robust AI-powered hiring software empowers recruiters with a more competitive recruitment process, making the entire workflow extraordinarily flexible and efficient. 

The primary goal of an AI-powered hiring platform is to streamline and improve the efficiency of the entire talent acquisition process, including sourcing candidates, screening resumes, scheduling interviews, evaluating applicants, etc.

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