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Will budget strapped companies use Chat GPT-4 as a cost cutting tool?

Will budget strapped companies use Chat GPT-4 as a cost cutting tool?

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Just under four months after OpenAI launched ChatGPT, the AI-model that has an almost human-like ability to produce well-researched content in seconds, it has come out with ChatGPT-4, or GPT-4, the latest iteration of the AI model taking the world by storm and the only thing people have been talking about as of late. 

GPT-4 is OpenAI's most advanced model yet and has the power to score higher on real-world tests, accept images and can process words eight times faster than GPT-3. According to the company, "GPT-4 is more reliable, creative, and able to handle much more nuanced instructions than GPT-3.5." It added that the system can also handle a significantly higher volume of input text which means that it can now analyse more complex topics and respond in a more accurate way. You can also now present GPT-4 with images, graphs, and infographics when it comes to prompting the system into action to further increase its usefulness. 

Don't miss: GPT-4 for dummies: 101 on the even more powerful version of ChatGPT

Many in the industry that MARKETING-INTERACTIVE spoke to say that with the platform's new capabilities, there could be more of an integration of AI into advertising and marketing jobs. At the same time, conversations have also emerged on the function becoming a cost-cutting tool for budget strapped companies - particularly with saving being made in content-based and SEO-related roles. 

When it comes to incorporating AI into marketing teams, the first thing to note is that we are living in a new age of hyperactivity. Content writers are expected to be able to develop engaging material much faster than ever before, according to Pramodh Rai, the co-founder of Cyber Sierra. More will also be expected from SEO specialists who now need to stay turned to the rules of engagement for both Google and Bing as the platforms rapidly speed up their capabilities. 

However, this increase in demand is not being matched with the talent, leaving many in the industry time-strapped to explore more creative outcomes. In fact, recently, MARKETING-INTERACTIVE reported that two in five (41%) APAC marketing practitioners cite a lack of time to be creative as a barrier to delivering excellent customer experiences. Crucially, 41% also cited workflow issues as a critical barrier holding back their marketing organisations, said Adobe’s 2023 Digital Trends Report, and historically, efforts to accelerate content creation have come at the cost of employee burnout.

Adding on, John Kerr, the former APAC tech vice chair of Edelman, noted that talent remains exhausted after three years of the pandemic, and yet we are asking them to learn and adopt marketing innovation at an ever-increasing rate.

Moreover, companies are in a recessionary and cost-control footing, so if they perceive AI can cut marketing costs and marketing heads, as it has in other areas – then they will pursue this aggressively. He said:

The fear of automation is reality – so we should all be working overtime to try to figure out how to stay ahead of the machines.

True enough, Ranganathan Somanathan, the co-founder and Curator at RSquared Global Ventures agreed that creativity tends to be limited by the capacity of talent and time. However, with ChatGPT and a base construct in place, one can iterate multiple versions of content and copy to exponentially grow in scale. "Folks developing these content and search ad copies can create more complex campaign structures, accounting for more permutations and combinations, making marketing more effective. Copywriters will also have to upskill with data analytics capabilities to leverage this opportunity," he noted. 

However, Somanathan is not entirely convinced that the job can be left unmonitored, because with automation, one still needs quality control and monitoring. "I believe the roles will evolve to complement what AI has to offer," he said. He continued by saying that  in the short term,

The temptation would be to reduce staff cost and depend on AI, but over time, with increased opportunities of what one could leverage out of AI, talent augmentation will kick in and we will see changes happening. 

It might not be the simplest solution

ChatGPT can be a useful tool for marketing teams by generating content, answering customer inquiries, and providing data-driven insights. However, according to Ashvin Anamalai, the CEO of DNA Creative Communications, it should not be seen as a replacement for human writers and SEO specialists. Rather, it should augment their work and lead to a shift in job responsibilities, with marketers needing to develop new skills to effectively work alongside ChatGPT, he said. 

"The impact of AI on marketing teams is a complex and multifaceted issue. While it's true that the technology has the potential to automate certain tasks and make some roles redundant, it's important to recognise that marketing is an inherently human-driven field that requires a range of relationship-building skills and expertise that requires "The Human Touch," said Anamalai. He added that as a result, it may be unlikely that companies will simply streamline their marketing teams in a bid to save costs for the time being.

Agreeing with him, Lee Ling Xiang, the principal consultant for the sales and marketing division at Robert Walters Singapore noted that content roles typically require a creative mind and individuals who are strong at expression and communication.

"Even with the rise of ChatGPT, we see less of content roles being replaced by the tool. Most creative roles don’t end up getting replaced by AI tools," Lee said. She added that for performance-centric roles like SEO, some data and AI aspects of the role can be replaced by ChatGPT but, most performance data require analysts to make sense of it. "Every firm’s data is also not uniform, and hence not all SEO roles are easily replaceable," she said. 

When asked if Robert Walters has seen this happening in their hiring, Lee said that her team has not seen this phenomenon happening just yet.

Most niche skill sets such as creative content conceptualisation and SEO data analysis are not easily replaceable by AI tools.

She added that notably, for 2023, digital and content creation marketing professionals remain among the top in-demand talent in Singapore’s sales and marketing sector.

Content 360 is back on 10-11 May 2023 in Singapore. A hugely popular event over the years, Content 360 brings the most influential content creators to inspire you. Across two days, you can connect with 300+ brightest minds in the industry and learn how to overcome challenges to make your content stand out among the crowd. Tickets are on sale now, register today:

Related articles: 
Google's Bard for dummies: What is this new AI software that could challenge ChatGPT?
How ChatGPT exploded onto the scene with so little marketing spend
Coca-Cola to use ChatGPT and AI tools in its marketing efforts

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