No ChatGPT alone will not be enough for your startup success
ChatGPT has been a huge success. And it really is a wonderful tool. Lots of founders are trying to jump on the bandwagon and build the next big thing using ChatGPT or OpenAI APIs in general.
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ChatGPT is available through a simple API(not direct ChatGPT, but Davinci model from OpenAI), and it is really easy to build a quick prototype. But that’s where the honeymoon ends. There are mainly two problems for you to base your startup entirely on ChatGPT.
It is not production ready: Anyone who has worked for atleast a couple of weeks with these models knows how they fail spectacularly in unexpected moments. The problem is that they don’t even fail predictably. And when that happens you cannot base your business on top of it. This is the reason there are no major startups using GPT3 even after 3 years of launch. Most of the successful startups built on top of GPT3 are in generating marketing fluff and even they use lots of patches on top of the API to make it work for their domain.
There is no moat: If your startup idea is just a prompt on top of the OpenAI API, you really have no moat. Somone else will easily come up with a better prompt pretty soon. Also, the big players can also just as easily integrate the API into their products. You have an idea to create a startup that will help people write better resumes? Guess what, Microsoft just invested $10 billion in OpenAI. I am pretty sure they will add the resume builder into Microsoft Word sooner than later.
So is ChatGPT useless?
On the contrary. It is really useful and if you don’t start using it, you will be losing out. Think about how ChatGPT can be a part of your pipeline. If you are a marketing agency, come up with processes that will include GPT to make the job of your employees easier. If you are a call center provider think of how ChatGPT can help your customers and agents. If you are a CRM provider, imagine how ChatGPT can change the process of your agents. What fields can be autofilled? If you are in Edtech, imagine how ChatGPT can augment your courses and learning material.
Make ChatGPT a part of your startup. Not your whole startup.
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