Microsoft's Private ChatGPT for Businesses: Is it Worth the Cost?

Imagine a scenario where your sales team is trying to close a deal with a potential customer, and they need instant answers to specific questions related to your product. They don't have the time to read through lengthy product documents or wait for someone from the product team to respond to their email. What can you do to help them?

Microsoft might have the answer for you. The tech giant has recently announced that it can offer private ChatGPT instances to businesses for "10 times" the normal cost. ChatGPT is Microsoft's AI-powered chatbot, which can answer almost any question asked by a user, based on the training it has received.

While this might sound like a great solution for any business, the cost factor can deter many companies from going for it. A regular subscription to ChatGPT costs $0.004 per response, which means if the chatbot responds to 10,000 queries in a month, the cost would be $40. The private ChatGPT, on the other hand, would cost $0.04 per response, making it ten times more expensive, which means for the same 10,000 queries, the cost would be $400.

Is it worth paying this much for the private ChatGPT? Let's look at a few real-life examples to find out.

Real-Life Examples

• KLM Royal Dutch Airlines implemented a ChatGPT-powered chatbot on its website to assist customers with their queries related to flights, booking, and luggage. The chatbot was able to resolve 80% of all customer inquiries, achieving a 40% increase in customer satisfaction and a 10% reduction in costs.
• Sitestuff, an Australian web agency, used ChatGPT to provide 24/7 customer support to its clients. The chatbot was able to handle more than 5,000 queries per month, reducing the workload on their support team and improving their overall response time.
• ReVision Energy, a solar panel installation company, implemented a ChatGPT-powered chatbot on its website to assist customers with their queries related to solar panels, installation, and maintenance. The chatbot was able to handle more than 7,000 queries per month, helping the company generate more leads and close more deals.

These examples show that ChatGPT can be a valuable tool for any business looking to improve customer support, generate more leads, and reduce costs. However, the cost of private ChatGPT might not be justifiable for small businesses or startups with limited budgets.

Conclusion

Microsoft's private ChatGPT can be a game-changer for businesses that rely heavily on customer support and lead generation. However, the cost factor can make it an expensive investment that might not be feasible for small businesses or startups.

• Private ChatGPT can improve customer satisfaction and reduce costs for businesses.
• The cost factor can make it an expensive investment for small businesses or startups.
• Businesses should consider their budget and expected ROI before investing in private ChatGPT.