Knowledge is power.
This saying has never been truer in the past months. Knowledge has become power in this age of technology and AI. The massive shift brought about by AI has benefitted companies and individuals alike and in 2023 we saw its rise.
This 2024, a new technology stands out as a significant advancement in ChatGPT (OpenAI). RAG, or Retrieval-Augmented Generation (RAG) is the process of optimizing the output of a large language model, so it references an authoritative knowledge base outside of its training data sources before generating a response. This innovative feature empowers companies to customize their ChatGPT by integrating their information and data. RAG holds great promise, potentially reshaping enterprise AI adoption.
RAG represents a transformative technique that can elevate the skills of the workforce and meet the needs of customers more effectively.
Rather than providing standard, generic responses, systems can now sift through FAQs, customer orders, documentation, use cases, and company blogs, delivering answers that are tailored for each specific scenario and client.
This goes beyond just a virtual assistant; it reaches across the company’s sales teams, HR departments, finance, engineering teams, benefiting all areas of the business. The saying “knowledge is power” is really coming to fruition.
“For someone that has been in sales for over 20 years, I immediately saw the benefit of ChatGPT in helping me develop outbound email campaigns. The issue, however, was that they tended to be somewhat generic. Now, imagine ChatGPT utilizing your company's information”, says Steve Smith, Nymbl’s Senior Director for Business Development. A sales professional can now craft personalized emails for each individual customer. Simply ask "create an email that makes reference to a recent company success story in 100 words or less." By generating more impactful sales campaigns, you're not only enhancing your sales efforts but also helping new team members improve their productivity.
These operational improvements extend to all business units. When considering the potential benefits for the HR Department, reductions in onboarding times for new employees, personalized learning and development experiences designed according to employees' roles, skills, and career objectives. Other areas include effective policy communication, responsive employee support, and the creation of compelling job descriptions.
Along with all the internal use cases, one of the most significant advantages of ChatGPT is for customer facing chatbots. Using the RAG method in ChatGPT produces higher user satisfaction by generating more accurate, relevant, and detailed responses.
Leveraging a customized ChatGPT approach improves efficiency, decision-making, communication, and customer experience.
Nymbl is a leading advisory and development agency experienced in ChatGPT-enabled applications. If you’re interested to learn more about RAG and how it can potentially shape your business, contact us here.
