Join the discussion: Ask Yogesh and Jordan questions about AI and competitive insights
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Connect with Yogesh Chavda: LinkedIn Profile
AI has emerged as a powerful tool that can provide valuable insights into customers and competitors alike. Today, we explore how businesses can leverage AI to gain a comprehensive understanding of their industry, make informed decisions, and drive growth.
Understanding the Potential of AI:
AI is revolutionizing the way we approach business challenges and transforming industries across the board. It has become a game changer, allowing organizations to analyze vast amounts of data, automate processes, and generate actionable insights. The recent advancements in generative AI have opened up endless possibilities for businesses to harness the power of intelligent machines.
Gaining Critical Insights:
We highlight several intriguing use cases where AI-powered tools provide valuable competitive insights. By analyzing industry trends, customer pain points, and competitor strategies, businesses can make informed decisions to align their offerings and stay ahead of the curve.
One notable AI tool mentioned is ChatGPT, which can drive productivity, research, and information mining. It empowers organizations to rapidly gather information about brand positioning, selling points, and prevailing stigmas. With the ability to create a comprehensive database in a matter of days, businesses gain valuable knowledge that can help overcome stigma and enhance their market positioning.
Improving Marketing and Communication Efforts:
AI-powered tools offer vast possibilities for businesses to enhance their marketing and communication strategies. For instance, chat GPT's generative AI capability can assist in crafting compelling presentations for conferences, sharpening outlines, and generating blog posts. By leveraging these tools, businesses can create engaging content that resonates with their target audience, driving greater brand awareness and customer engagement.
Transforming Decision-Making Processes:
AI is a game-changing ally when it comes to making strategic decisions. The ability to mine data quickly and efficiently, coupled with AI-generated insights, allows decision-makers to base their actions on accurate and up-to-date information. Businesses can utilize AI to analyze customer behavior, market trends, and competitor movements, enabling them to make proactive decisions that maximize growth potential.
AI has become an indispensable tool for businesses seeking to gain a competitive edge. By leveraging AI-powered tools and platforms, businesses can gather critical insights about their industry, customers, and competitors. Embracing AI technology enables businesses to make data-driven decisions, improve marketing efforts, and drive sustainable growth. As AI continues to advance, it is vital for decision-makers to explore how it can be integrated into their businesses to stay ahead in today's ever-evolving market landscape.
- Discussion of various AI tools and plugins:
- Plugin on ChatGPT for creating short videos using stock imagery
- Amazement at the quality of voice tonality and script generated by the plugin
- Tools enabling engagement in creative work previously thought impossible
- Small businesses using tools for communication like TikTok posts and long-form videos
- Accessibility of tools with a laptop and proper guidance
- Mention of China's Internet giants ordering $5 billion worth of Nvidia chips for AI ambitions
- Recognition of Nvidia's importance in powering the generative AI movement in both US and China
- Focus on using AI for competitive insights and analysis
- Examples of using ChatGPT in consulting work:
- Understanding client's industry and pain points
- Crafting presentations for conferences
- Creating blog posts for weekly LinkedIn posts
- Experience of helping engage customers at Pinterest during COVID-19 pandemic
- AI news:
- TikTok asking creators to label AI content
- Microsoft's new language model called Gorilla outperforming GPT 4
- Discovery of ChatGPT and its potential for productivity, research, and information mining
- Transformation of work processes and incorporation of generative AI
- Consulting focus on overcoming brand stigma and building a database using chat GPT and website scraping plugin
- Mention of plugins for creating videos and analyzing websites
Jordan Wilson [00:00:17]:
Can you use AI and chat GPT to learn more about your competitors and your customers than you could on your own? Well, you actually can. and we have a very special guest today that's gonna tell us how and why you probably should too. Alright. So my name is Jordan Wilson. I'm the host of everyday AI. That's what you're listening to. Thank you for joining us. So we are a daily live stream podcast and free daily newsletter helping everyday people make sense of what's going on in the AI world because there's a ton. but not just like, hey. Here's a new tool or here's a bunch of news, but how we can all actually use it, to to help grow our companies, to help grow our careers, to in increase our output. Right? so that's something that we're gonna be talking about today. How we can use AI and chat to be t set to learn more about our customers, our competitors, and just insights that would be kinda hard to get otherwise.
Daily AI news
So before we get into that, let's quickly talk about what's going on in the world of AI news. so first, TikTok, is now going to start labeling, AI content. So TikTok is going to ask creators to label their AI content. so we kinda know what's real and what's not. So this kind of follows, Instagram that announced this also a couple of weeks ago. Also, interesting that TikTok is asking creators to identify it and not necessarily, developing any sort of detection system to do it. So we'll see how many tick talkers are actually fessing up.
Next, but not least, Microsoft has a new large language model. That's right. So they recently announced Gorilla, and it has beat GPT 4 at writing API calls. So we're gonna have more about this in the newsletter because it is pretty breaking news, but their new large language model called Gorilla was in its own testing was better at generating accurate API calls. So more on that in the newsletter.
Last but not least for today,$5,000,000,000 in sales. So that's China's Internet giants. just recently announced that they ordered $5,000,000,000. That's a 1,000,000,000 with a b in Nvidia chips to power their AI ambitions in the coming years. So, we we we do talk about Nvidia, pretty often on the show because, hey, hot take, I think that they're one of the most important companies here for the US economy because they are powering this whole generative AI movement, not just for the US, but China as well. Alright.
So I hope you're excited, because we're gonna be talking about using AI in a way that we don't talk about a lot on this show, and I think we should be talking about it more. So as a reminder, if you have any questions, please make sure to chop them down because I'm excited to bring on our guests for today. we have Yogesh Chandra. the founder of y two s consulting Yogesh. Thank you so much for joining us. Thank you for having me. I'm excited. Alright. And and we were just talking pre show. Hey. we're both from Chicago. So we we gotta have a great, a great show here and hold it down for, for the Midwest. Right? Very good. Yeah. So so Yogas just before we get into using AI for competitive insights and analysis, kind of just quickly tell everyone what your background is, because you have very extensive background, you know, even outside of, you know, founding your own consulting company.
Yogesh Chavda's background
Yogesh Chavda [00:03:52]:
Yes. So, I've been working in marketing and market insights my career. And I actually started working with Procter And Gamble initially. So I was I was I spent almost 17 years with them working across 6 different countries under very different circumstances, and built up a, you know, like, a, you know, a pretty wide set of, you know, capabilities around how do you do marketing under, you know, develop in developing markets versus developed markets, different kinds of brands, you know, new brand launches. You name it, basically. I've also worked for some other companies like Spotify and Pinterest. I was a global head of always on marketing at Spotify. I was the the global head of commercial insights at Pinterest for a while. And then my last big role, was with a hearing aids company out of Denmark. where I was, managing the market insights work, for hearing aids in the US. so in in in in And then in between, of course, I've been doing some consulting work as well. So, I just started with my consulting company again this year. Yeah. Wow. That's the the short version of my checkout.
Jordan Wilson [00:04:53]:
So so let me let me cut it down for for anyone listening, whether you're listening on the podcast or listening, with us live here. Yogesh knows what he's talking about. Right? So he just he just dropped some companies that all of us probably know and use. So, PNG, Spotify, Pinterest. Right. So so so Yogesh, with your background in insights and marketing, what was your kind of take when you first kind of saw this this generative AI wave, specifically with chat GPT, what was your thoughts on, you know, hey, did you think it was gonna be something, a a useful tool, or at at first where you just kind of like, alright. This is, you know, something that could just be a a fun little tool, and we'll see what happens.
Yogesh Chavda [00:05:34]:
So the funny thing is I found out about this tool through my sixteen year old, when he told me about this back in November saying that I'm using this to write my essays. And I was like, what is this, you know, all about? You know? So that's how I kind of started. Right? thankfully, he's not using it, you know, to, you know, from a school perspective. He's very smart about what he does. So I don't wanna get him into trouble, of course. so, with that said, as I started playing with chat GPT in particular, and that's where I started. And then I also played with Bard and then, you know, later with Claude as well. I would say that I I started recognizing that this is not just a basic tool that can do basic stuff. This is a very sophisticated tool. that can actually, drive productivity for different kinds of roles very, very quickly. it can help you do research very quickly, and you can mine information very, very quickly, which would have taken me weeks or months to do in some cases because it's able to find it. Right? and analyze it. Now the challenge, of course, that, you know, that everybody had, and I had in particular was like, is this real? So I was always going back and checking to make sure that whatever chat API was telling me is actually correct or not. Right? And there were instances where I was finding, like, no. That's not where So, you know, there was a learning curve that I was going through, but the more I learned how to use the tool, the more I became a convert to say, this is not just, fly by night thing. is actually a game changer. It's gonna change the way work will happen moving forward. And organizations will have to be thinking differently about how they structure their work streams internally to be able to, to incorporate, you know, generative AI into their organizations. It's not a it's not a bolt on to your work stream. This is actually a redesign of your work stream completely based on on on generative AI in my opinion.
Jordan Wilson [00:07:36]:
So -- Yeah. It's a great point. You know, a lot of people think like, oh, maybe I can find a way to work chat GPT or to work generative AI into my workflow where I think if you flip that coin on its head, you can start to have chat GPT or AI kind of be the base. Right? Right? Yogesh, like, is that something that that have you started to maybe restructure a little bit, even how you're doing your consulting work? just just to cut down on that repetitive and sometimes mundane, task of of research and analysis.
Using ChatGPT in consulting
Yogesh Chavda [00:07:58]:
completely. Completely. So I I can give you 3 different use cases already in terms of how I'm using it in my consulting work. Right? So the first one is if I'm pitching to a client. And I I know a little bit about the client, and then and they're new to me. I'm using chatty PD to understand their industry. you know, so that, okay, this is the industry they're operating in. This is what's going on. These are the some of their pain points. These are some of the things that are happening inside, you know, the industry. And that's helping me say, okay. If that's what the industry pain points are, then what are the brand's pain points in this case? So the, you know, chatty PT main mean, I'll be able to help you specifically because of, obviously, the cutoff, you know, up to October. But, you know, you can bring in BARDA at that point to help you supplement kind of thing. Right? So between those 2, you're able to kind of, like, you know, build out the understanding and under and and say, okay. This is where the landscape is today. how do I write my pitch? Mhmm. Right? So I've actually used chat to help me think about how I should craft my pitch. And then the third thing that I've also done, and I've I'm doing a lot of presentations at conferences right now. I'm actually using, you know, generative AI to help me think about my presentation. my very first presentation I did was back in March, of this year, at a conference here in Chicago where I was actually talking about how brands have to overcome stigma. And in fact, that's the the positioning for my consulting company. I help brands, think about how to address stigma in their industry, for example. Right? And when I was thinking about the presentation, I had my own outline in my head, which at GPT actually helped me make it, you know, much, much more sharper. You know? So between the the the quick assessment of the landscape, the pitch development, and then the presentation development in all those three cases, it's helped me significantly. I'll add a fourth one, my blog post. I I post every week on my on my LinkedIn page. And, almost every posts I've done. I've started first on chat with you to help me think about the question I'm trying to answer, and then it's helped me then basically think through how to actually write and craft my blog posts. So, you know, I'm I'm seeing this as a massive productivity, enabler for, like, a, you know, a small, you know, consulting firm that I have.
Jordan Wilson [00:10:06]:
you know, I'm doing the work of about 2 or 3 people here if I had to have to do this without chat if you if you know what I mean. So -- Yeah. Yeah. Absolutely. Absolutely. And I do, real quick, just wanna shout out some, some people joining us live today. So so thank you for that. And again, if you're listening to this later on the podcast, make sure to check out the show notes. If you wanna come and and ask, you'll gash some questions. We'll have the link to join this thread, but Audrey just saying really excited for this one. So thanks for joining us. Mark saying that's a great move kind of talking about what we're talking about here. Brian joining us saying, good morning from the Gulf Coast. Thank you, Harvey, saying Dallas, Texas. Glad to be here. so if you do have any questions, just as a reminder for your guest, please drop them now. so so Yogesh, I do have one other question because you talked about you said, hey. You know, you're able to use, in your consulting role now, chat to be key in in a way where previously you might have had to use 2 or 3, employees, to to to do some of these things. Right? So I guess what are maybe specifically what are 1 or 2 ways that you're using chatgbt on an ongoing basis now And you look back and you say, you know, if you look back at your, you know, PNG days or your Spotify days or your Pinterest days and you're like, wow. if I had this this this technology now -- Mhmm. -- how could it have changed what you were doing back then? So, you know, I guess could you speak a little bit to that and and just how today's technology, given your background, how powerful it is, and and and and maybe even, like, how much easier would have made those things for you?
How companies like Pinterest can use ChatGPT
Yogesh Chavda [00:11:51]:
So so I'll give you a specific example from Pinterest. And if you have time, I'll talk about one that's happening right now as well. So, I was at Pinterest when COVID was starting back in March. And, the global head of sales at the time asked me if, I could help the entire organization in terms of the commercial organization in terms keeping up engagement with our with their customers. They're at sales customers, by launching a newsletter that would kind of, like, showcase how different and unique interest was, relative to all the other social media platforms. Right? And it wasn't as if I had, like, you know, a month to start this. I had, like, literally 5 days to start this. And I was freaking out because I'd only been in the company for a couple of not even a month yet. Right? And I was able to basically, you know, you know, build a team out relatively quickly who spent time. It took them like a day or 2 to, you know, like, mine the data say this is what the behaviors were of interest users on the platform. you know, for the last 2 weeks, let's say. Right? I started that, on March 20th, if I'm not mistaken, of 2020. So right after, you know, Trump's overall, you know, office address, 2 days later, I was launching the newsletter in the US. 2 weeks later, I had launched the same newsletter across 7 additional countries. And by the time I had I was done, I had about 25 people working on just a newsletter between analysts who were mining the data you know, designers and, you know, copywriters and sales, you know, you know, leaders who are all kind of, like, involved along with the legal team to make sure everything was right. to make sure that everything that was being launched every week was, you know, meeting, you know, the requirements and everything else like that. Had I had a tool like this? it would have been a massive game changer for my analysts, for example, because you could have mined data much, much faster. It would have probably identified things that we would we were probably missing because remember, these are people looking at data and saying, okay. I'm seeing these trends over here. I think we should talk about that. Had a had a tool like this Right? It would have supplemented that process. Number 1. And number 2, it could have also probably supplemented the the writing of the creative. and giving us more options to to to to address because we were always in a time crunch. We had we went with the best idea that was there, you know, and we're like, okay. We gotta run. So we were running all the time. But this would have been a big, big enabler for us in that in in that space, basically.
Jordan Wilson [00:14:10]:
Yeah. Yeah. Absolutely. And, you know, speaking of, we'll we'll drop this in the show notes, but we actually had a, in in episode a couple weeks ago with Patrick Mva I think it's episode 54 where we talked about that. Right? Like, talked about using, you know, just kind of mining customer data and customer reviews. I think that's super powerful way, Yogash, that that we can use it. so so wanted to shout out here, Fabian saying greetings from Chile, George, George Strom saying, hey. Looking forward to hearing these insights. Jackie, good morning. Athena, saying great to see you again. Saying, hi to you, gosh. Brian's saying this is so Brian talking about how this is how he's been using, chat JPT in and Harold here saying, He's been able to create more in quarter 1 alone than he was of all of 2022. You know, Yogesh, how has, you know, chatty PT and generative AI been able to change kind of even your outputs, in in y2y2s consulting. How is it change the game for you?
AI & ChatGPT speed up competitive insight process
Yogesh Chavda [00:15:13]:
So, like I mentioned earlier, you know, my my consulting is focused on helping brands overcome stigma. So one of the things I'm doing right now is actually building out a database of brands that have had to address stigma within their industry or brands that are facing stigma. So think about the Bud Light example from the last few months. It's become a stigmatized brand today if, you know, for lack of a better word, basically. So if I had to do this the old way, it would have taken me literally months months to pull together a database of information about the, you know, the brand positioning, the brand, you know, selling point, the different types of stigma that could be affected with, you know, looking through the website, you know, and trying to pull all that information together, it takes time. It takes time and effort to pull that together. I've been able to structure the database and pull together at least my first 10 to 20 use cases in the space of a couple of days using chat GPT. Right? And, using, you know, one of the plugins on the the subscription version where you can scrape through their websites, it's able to summarize everything on the website. And it's telling me exactly what the unique selling points are, where what's there, what's missing. It can do comparisons if you wanted to versus other you know, competitive, you know, websites. If you wanted to play it that way, you can do all those kinds of things. Right? So when you've done all that and you're I'm able to build up my database for me, that's one of my unique selling points for my consulting company to say that I have a database for, you know, brands that have been that have been stigmatized. So I can come and talk with information and data and be able to talk about this in a far more intelligent way, very quickly than had I not had this? would have taken me probably a a 12 months to pull this together. I'm doing this right now in weeks, basically.
Jordan Wilson [00:16:55]:
Yeah. Yeah. That's that's that's such a good example. Yeah. Having to go through you know, 100 or 1000 or sometimes millions of data points used to be an incredibly time consuming process. And now it's not necessarily. So, alright. So we have a question here from a a LinkedIn user. So, sorry. Sometimes we get the name. Sometimes we don't. So asking Yogesh in your Pinterest example, how would you feed it the data over the last 2 weeks of of Pinterest trend? So,
Yogesh Chavda [00:17:23]:
how would you take that one on, Yogesh? Yeah. So, first of all, this is all obviously first party data. Right? So, let me start with that first. So if they were to have if they were wanting to use some sort of generative AI tool, my suspicion would be that we would have had to go through a process to make sure that, you know, the data that gets ingested stays within the firewalls of the Pinterest world. You know, that that's what I would have, you know, in short first and foremost. But once that's the case, you know, you can literally, you know, pull the data and download download it into, let's say, a Google Sheet document, right, millions of data points if you wanted to. And then you can just upload the link into like, say, you know, chat TPD through a plug in, and you can then basically start the process of, you know, questioning chat TPT on what you you know, what what is it seeing and then what you wanted to go look for, basically. In the simplest way, that's how I would have done it, basically.
Jordan Wilson [00:18:13]:
Yeah. Yeah. Absolutely. And I think you'll guess you bring up an important point there is, you know, a lot of the things that we're talking about in the ways that even, you're using chat GPT, would require the, the plus version, so the $20 a month version. So, you know, if you're listening out there, maybe little newer to chat g p t and you're like, oh, that doesn't sound like something you can do. Right? we had a whole episode, Friday on chat g p t plugins. And kind of, the the the new features and functionalities that that provides. So, yeah, even the example that Yogesh, Yogesh is talking about of uploading, different data points or reviews or scraping websites. Yes. that does require kind of that chat GPT plus. you know, Yogesh, what's what's one maybe unexpected way that you've been leveraging generative AI, that maybe you weren't necessarily thinking like, oh, this could really help in this endeavor or maybe what's one way that you think other people should be using chatty PT or AI that maybe they're not thinking about.
Exploring various use cases for creative content
Yogesh Chavda [00:19:14]:
So I'm still playing with this. So I'm not yet gone live with this. Right? So as I mentioned with my blog post, I'm talking a lot about all of these kinds of use cases. So if anybody who's following me or if you wanna follow my my my personal LinkedIn page, you can subscribe to my my my blog post there, about all those use cases. But the thing that I'm playing around with is you could literally create, a short blog post or some sort of like narrative that you want to create. and using one of the plugins on chat JPT again on the pay side, the subscription side, you can actually go create your own v your own video. Right? And, there are, you know, one of the plugins I think is called VISTA, I think, where you can actually use stock imagery to create a literally, like, a 32nd video of your of your post. I was blown away when I saw that. because, the, you know, when when I at least played around with it, I was like, the selection of the imagery the the the tonality of the voice, the the script it wrote out based on what I had written out was pretty amazing. you know, was it a 100%? Of course not. You still have to go back and edit and do certain things. Right? That always is gonna be required, but the fact that it took me from, say, 0 to, like, say, 85% of the way there, right, is a massive, massive game changer. So for me who's, you know, I come from the insights where I've worked with advertising my entire life. Right? but I was not the person responsible for creative at the end of the day. There were others who are much better at creative than I am. But here, I'm now doing creative work in a way. which I'd never thought I could do before. Now I can with the help of, you know, these kinds of tools. Right? So for a small business, who who is trying to, you know, figure out how to create, you know, communication, not just in terms of, you know, you know, like, you know, 2 d posts, like, for Instagram or whatever, you could you could you could create a TikTok post. You could create, you know, long form video if you want. All those things are doable today sitting behind a laptop. and maybe just having, you know, the right person helping you figure that kind of stuff out. You know, that's kind of the stuff that we can also help with now, which I never thought I could do. So Yeah. So so many unexpected use cases, I think. And, you know, even what Yogesh is talking about,
Jordan Wilson [00:21:29]:
I think I think we've actually done a a video or 2. So so check back later. in the comments, or if you're listening on the podcast, and I think we actually have a video on that. So, one one last, one last one here, you'll guess that from, Doctor Rasifah asking, what are 2 major AI apps that you use with chatgbt or or just maybe, yeah, what are some either, you know, plugins or apps or even other AI tools that that you're using and finding value with, Yogesh.
Yogesh Chavda [00:21:58]:
Yeah. So, on the I can never remember the names correctly. So just search on the plugin part of it, but the one I've I've I've, I've used I mentioned this law already, which is the one that can create video for you. the other one, I think, is called Open Scraper, if I'm not mistaken, which allows you to kind of like, scrape websites, right, and and analyze websites for you. So I found that to be incredibly useful. So those are two that I would, you know, suggest very rapidly. There are there are some other ones which I'm still playing around with. I'm not really been happy with with this one is you can actually go, have a plugin that can actually analyze YouTube videos also up to a certain, like, length. you know, I'm I'm trying to figure out which is the best one to use for that yet because of those some of them have, you know, like, you know, paid firewalls and things like that. I'm not ready to pay for things just yet. So I'm kinda, like, doing all the free stuff right now. You know? But, I think that would be another one that I think would be super helpful as well if you're able to analyze, you know, advertising. In fact, one thing that I've tried to do this week, and I've not completed yet, is to analyze the video. I have actual data on the video from some market research surveys can chat to PT actually analyze those 2 things together. For me, that if I can the moment I can figure that part of it out, that's gonna be another, like, at least for me, a momentous momentous step forward in how you can actually you know, like, connect different components of chat to to solve the problem that you're solving for, basically.
Jordan Wilson [00:23:33]:
Yeah. Yeah. That's That's a great example. Yogesh, just how how you can string together different tasks that would normally take, you know, hours so, I mean, we've covered so much in such a short period of time talking about customer insights, analysis, even some favorite plugins and in use cases. So, thank you, Yogesh, so much for joining the everyday AI show. Your insights were super valuable, and I hope everyone out there, enjoy this as well. So thank you for coming on the show. Thank you so much for having me. Alright. And just as a reminder, everyone, we covered a lot. So make sure you go to your everyday ai.com. Sign it for the free daily newsletter. gonna be recapping a lot of the things that we talked about today. So if you weren't able to type as fast as as as you could and and take down all the notes and all the the nuggets of information that that Yogesh was giving us. Don't worry. We've got you. Go check out the newsletter. So, thank you so much for joining us. Join us tomorrow. We're gonna talk one more time about mid journey. We have our part 2 series coming up. So we hope to see you back then and every day with everyday AI. Thanks.
Yogesh Chavda [00:24:38]: