The Financial Costs Of Deep Learning: What Businesses Should Consider
Sep 20, 2023 - forbes.com
The article discusses the cost implications of using large language models (LLMs) like ChatGPT in business scenarios. The author, CEO of Lexalytics, highlights that while the capabilities of these AI models are impressive, businesses often overlook the substantial costs associated with their use. Two hypothetical cases are presented to illustrate this point. In the first, a hotel brand uses ChatGPT to analyze customer churn, a specific problem, which costs a few hundred dollars. In the second, a fast-food chain allows its managers to ask the AI system multiple questions, leading to costs in the hundreds of thousands.
The author advises businesses to carefully consider the use cases for AI tools like ChatGPT, ensuring they are used to solve specific problems that are overwhelming for humans due to the volume of information. The key takeaway is that businesses should not blindly adopt LLMs without understanding the potential costs and identifying suitable business problems for their application.
Key takeaways:
Deep learning models like ChatGPT have made significant advancements, but the cost of leveraging this new intelligence is often overlooked.
Understanding the costs of using AI like ChatGPT is crucial, especially for larger institutions with many users.
Businesses must consider the use cases they want to deploy an AI to solve, as unbounded questions can lead to immense costs.
Before using AI tools like ChatGPT, businesses should identify specific problems or questions that are overwhelming humans due to the volume of information to be processed.
