A February 2023 survey of American business leaders found that around a quarter of the companies had saved between 50 thousand U.S. dollars and 70 thousand U.S. dollars by using ChatGPT. Additionally, 11 per cent stated having saved more than 100 thousand U.S. dollars since introducing ChatGPT to their workflow. The above statement is based on the research report “Share of companies saving money using ChatGPT U.S. 2023” published by Bergur Thormundsson.
The research findings on ‘How ChatGPT has helped in saving 100 thousand US Dollar’ is based on the data analysis of 1000 business leaders’ responses from the United States regions in a survey conducted in February 2023. Download Link to access the report.What are 51 Best ChatGPT Prompts Useful For Increasing Work Productivity In Any Field
The saving of $100,000 US dollars by various companies with the implementation of OpenAI ChatGPT assistants in their workflow has led to optimization of tasks and performance with the reduction in redundancy and manual efforts.
Another research report, also suggests that 48 per cent of the 1,000 organisations interviewed in the US were able to save more than $50,000 by using the chatbot instead of human employees! A significant 25 per cent even managed to save $75,000! On the whole, about 99 percent of companies admit to having saved money by using ChatGPT. If companies have managed to save thousands of dollars in costs by implementing ChatGPT, it will not be surprising if human employees are soon replaced by the AI chatbot, globally.
How ChatGPT Helps Business and Industries to Earn Profits: A Brief Summary
ChatGPT can help businesses earn profits in several ways. Firstly, it can enhance customer support and engagement by providing quick and accurate responses to customer inquiries 24/7, leading to increased customer satisfaction and retention. It can also assist in lead generation and sales by qualifying leads, recommending products, and facilitating the buying process.
Furthermore, ChatGPT can be used for market research and data analysis to identify trends and consumer preferences, helping businesses make informed decisions and tailor their offerings. It can also automate routine tasks, reducing operational costs and improving efficiency.
In the content creation and marketing domain, ChatGPT can generate high-quality, SEO-friendly content at scale, saving time and resources. It can also personalise content for individual users, increasing conversion rates.
Overall, ChatGPT’s versatility, availability, and ability to automate tasks, provide insights, and enhance customer experiences can contribute to a company’s profitability by optimising various aspects of its operations.
Amount of money companies in the United States saved by using ChatGPT as of February 2023(in U.S. dollars)
The table below represents the percentage share of respondents within each salary range, as depicted in the bar chart.
|Salary Range (USD)||Share of Respondents (%)|
|1 – 5,000||9%|
|5,001 – 25,000||20%|
|25,001 – 50,000||22%|
|50,001 – 75,000||24%|
|75,001 – 100,000||14%|
|More than 100,000||11%|