Competitive intelligence and ChatGPT to help create valuable insight

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Competitive intelligence and ChatGPT to help create valuable insight

ChatGPT is a powerful tool that’s starting to reshape how we all work, live, and to an extent, how we do business. AI is making moves. It’s up to us to keep up or get left behind. This article is all about competitive intelligence and ChatGPT.

AI will be the greatest thing that’s ever happened to the insight industry. Creativity, thinking, creating scenarios, and new routes to market. Analysing what’s going to happen next will set those out within Competitive intelligence. Almost every industry will change for better or worse. 

Just like drinking a Vodka Martini is not going to make you James Bond

Using ChatGPT to research your competitors and take the information found as true is not going to make you a competitive intelligence guru. Just like drinking a Vodka Martini (even with a green olive) is not going to make you James Bond.

It’s been data-driven that, data-driven this for a few years. Competitive intelligence has never been data-driven. Unless, of course, you sold database access, ERP, or cloud-based solutions. Now with AI and ChatGPT, the data is a given—the easy bit. Competitive intelligence or market intelligence professionals must become the most creative critical thinkers. No hiding behind databases and platforms. Creating insight is still going to come down to the following:

  • The idea and critical thinking
  • The questions defined and asked
  • What’s the information telling you?
  • What does it mean?
  • What are you going to do with it? 
  • What will your competitors do with it?

Many people who have used it for the first time were utterly blown away. Like the first time you used Google, Yahoo or AOL. It was like, “I can get all the information I need on this? Well, there will be no need for competitive intelligence at this rate”. Google didn’t kill market intelligence, and AI will not kill it either. 

We have access to the same information, but we know how to use it better

It will give people access to the same information. Just some of us know how to use it better.

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Bobby Alexrod, Billions

Some have fears and hesitation about the technological advancements of AI as a whole. The sheer volume of the hype is exceptional and will die down eventually. But it won’t go away this time. Some people will grasp AI and use it to help their businesses. Others will return to their own ways of doing things. Or maybe continue sitting on the beach, sipping cocktails. After becoming millionaires, having created and sold their NFTs last year.

It’s important to see that technology, on the whole, is a positive thing for us. But equally important is that it does not stop us from thinking. From differentiating ourselves and trying to be us—our tone of voice and character. Much of ChatGPT is very vanilla and uniform, and this may change.

But there are limits (at least at the moment)

Currently, there are many limitations to this technology. As follows:

Language

The initial language input restricts ChatGPT. The results will only be as good as what you ask it to do. Within competitive intelligence, the questions are the most important aspect of achieving success. Questions developed by people who are not engrained in your business or industry. Can ask the daft questions and come at a problem from another angle to define the real problems.

The information it can find and gather from online sources. There is little control. Like when you Google something, the quality and accuracy can be questionable. And sometimes, paywalls and deadends get in the way of research. And then ask other questions and look at things differently.

Bias

ChatGPT suffers from significant author bias. At best unintentional biases. At worst ulterior motives and ever-increasingly sophisticated ways to create disinformation and deception. ChatGPT is limited by being unable to corroborate and evaluate information. Exacerbated by the increasing ability of deep fake technology. Culture, politics, experience, job roles and things get in the way of bias. A Silicon Valley-based Google engineer will think differently from a Texan oil worker, and they will have zero understanding of the Peruvian hat maker or Thai shop assistant’s needs.

Evaluation

Evaluation of the source’s quality, biases and context is something ChatGPT can’t do, and it may do in the future. Just remember when you changed the words you put in a search engine. Or the boolean strings available to focus results. You really have to use specific and concise language to get anywhere. A one-word change round can radically change the results. 

One primary concern for researchers and, more so, investigators surrounds OPSEC (operational security). Most projects are confidential, and every criminal investigation certainly is. Now, ChatGPT uses Machine Learning. Meaning the platform is learning from what you are doing and asking for. Does this mean your work will find its way into the open-source world? It may be if someone else asks a similar question. Further research needed on this aspect of ChatGPT is required. 

A good analyst and researcher will be asked to answer a question. Great, but 90% of the time, the analyst needs to be creative in their analysis and be about to think laterally.

Analysis

ChatGPT is currently unable to evaluate the quality of the source critically. That’s one of the key skills of an experienced analyst or investigator. ChatGPT currently struggles with lateral thinking and going beyond the information. To connect the dots, as some insist on saying. So if AI can’t connect the dots, it will have even less success determining the spaces between the dots. And, of course, what’s not being said or reported. 

ChatGPT is limited beyond information gathering. And is oriented toward the initial commands and specific data points. Currently, it can’t do network analysis. It can’t do character profiling of a person and pattern detection. Analysts need to be knee-deep in their information to get a picture. AI may eventually deliver an excellent end product. But will the report’s author really understand what’s going on? The nuance of what’s happening or not happening. And this thinking leads us to ask if you would be happy for AI to decide whether to pull the trigger or not. Or, better still, to push the nuclear red button or not? 

Language-based AI technology struggles to isolate and see the nuances of human emotion. Especially baselining and monitoring shifts in behaviour and sentiment.

Would you like to advertise in Yellow Pages, Sir?

ChatGPT is somewhat like what Google was to Yellow Pages salespeople. Best find something else to do. Or the local ploughman in the days before new-fangled tractors took over. Now most fields have their arable produce in neat little lines, not a hedge to be seen for miles. It helps make growing and harvesting wheat easier and cheaper. But we still need the hedges for wildlife, the hills to escape from and the trees for us to breathe. Even now, people want organic and locally grown produce. 

It’s the same with chatGPT. You will still need critical thinking and analysis to answer the whys and so whats.

We will adapt

AI is not going away. Neither are the instant ChatGPT experts fresh from being a blockchain; Crypto expert. But we should never stop being human-centric within competitive intelligence. Otherwise, you risk being data-driven As competitive intelligence professionals, business people, and humans need to adapt. Just like we did when the internet was accessible to us mere mortals. 

We will adapt, just like we did back then. Many are always afraid of change. When those tractors came rumbling down the lane, those in the fields thought they would lose their jobs. But they found new jobs. That’s what we do as humans. We adapt, and we grow. 

AI needs to be embraced, but we can run away from it and continue doing what we have done in the past. But guess what? You can avoid it all as much as you want. Or have an opinion. But tech doesn’t care what you think, and it will continue. 

Winds of change

Jobs are going to change, and some positions may be gone. AI will enhance some, so it’s best to look at it and start using it at the very least.

A close family member is doing something he loves. A degree in creative writing, and he must embrace AI to stay relevant. But remember that human-written content is where AI gets its content from, and AI can sort it and produce it faster. AI is disrupting the execution of particular (usually tedious) tasks that we do and not the ideation behind it all. 

Differentiating ourselves makes the ideas and creativity behind those tasks much more important. ChatGPT can help write a blog post, but you must create the right blog ideas and concepts that evoke emotion. Also, ChatGPT can help you, but if you let it do all of it for you, you will be vanilla and boring. 

So those with creative and critical thinking skills will be enriched in their jobs. Here is an idea. Schools should teach creative thinking skills. 

The house Jack built

Think about a house. Google and Bing are the foundations, AI and ChatGPT is the frame and perhaps the roof. It’s up to you to create the space you want in between. 

We all love technology when it works for us but hate it when we think it’s not. But we can’t have it both ways.

We are in control. AI will create efficiency, and yes, it’ll make some jobs less valuable. Mankind has evolved and adjusted to find new opportunities. So use the tool. Don’t fear it.

AI will help us execute ideas. But ideas and creativity are the most important aspect. While the commodity of execution is at the bottom of the pile. Saving you time to do things you enjoy. Thinking and creating

ChatGPT can help speed up data analysis, making it easier to create insights and make informed decisions. But Trying ChatGPT to be Like Everyone Else is not a winner. You are not going to gain a competitive advantage. Like data, it can only look back. It may be able to predict future actions. But they are only predictions.

It helps you save time conducting the secondary research. But you will still have to spend time asking the right questions. Then verify what ChatGPT tells you and speak to people who will know the answers. ChatGPT cannot analyse the information as we can, and it struggles with the ‘so whats?” and “why’s that” and what’s going to happen next. 

Competitive intelligence and ChatGPT to help create valuable insight

Whether or not you get on board with AI, it’s not going away. And despite the hype surrounding it, these new technologies will advance our lives. Mostly for the better. Technology won’t take over the world. It’s improving the world, just like the wheel, that tractor and the car. The train, Netflix, the computer, the coffee machine and the other technology we use daily. We have adapted and worked with it, not ignoring and resisting it. This article was all about competitive intelligence and ChatGPT.

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Another article that may be of interest on How to do Competitive Analysis if You Have Not Done it Before

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What is competitive intelligence?

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What is competitive intelligence?

Competitive intelligence is the finding & critical analysis of information to make sense of what’s happening & why. Predict what’s going to happen & give the options to control the outcome. The insight to create more certainty & competitive advantage.

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