Einstein GPT vs ChatGPT
Jenna Trott, Sarah Munson | JANUARY 20, 2024 | 5 Minute Read
A wave of adopting generative artificial intelligence (AI) is sweeping the finance sector, with leading financial services reporting that 99% of their employees were deploying the versatile tool. GPT, an abbreviation of Generative Pre-trained Transformer, accumulated traction by utilizing large language models and extensive data to create streamlined chatbots. The notable representative of this success is ChatGPT, the processing model from OpenAI that boasts over 100 million monthly users and has become a household name. But a new product from Salesforce, their in-app competitor, Einstein GPT, is quickly earning its own recognition.
Though both chatbots intend to transform your business, their fundamental goals and uses differ significantly. Navigating their possibilities is exciting, but if you need help getting started, this blog will cover how Einstein GPT and ChatGPT compare and contrast.
What is ChatGPT?
When OpenAI, the AI research laboratory backed by Microsoft, launched ChatGPT on November 30, 2022, developers marketed it as a revolutionary natural language processing model that harnessed its knowledge of text data to generate customized responses to user inputs. The process involved typing descriptive keywords into the message bar, such as asking it to craft a professional email response and then watching the chatbot generate content nearly identical to authentic writing and research. It is free to use, with the option of upgrading to the premium model (accessing even more advanced language models) for $20 a month. With its ease and affordability, critics worried chatbots would threaten their jobs, but more than a year later, ChatGPT has proven to be an employee’s toolbox rather than their opponent.
ChatGPT’s broad use has some skeptics wondering if it’s relying on a vague understanding without realistic industry knowledge. Though the tool intrigued Warren Buffet when it correctly rhymed English lyrics in Spanish, the Berkshire Hathaway chairperson doubted its professional benefits. In actuality, the chatbot harnesses a 570 GB database to ensure efficiently processed analytical, technical, and customer support content. Let’s take a look at how this adaptability is benefiting the finance sector.
- Morgan Stanley used ChatGPT-4 technology to create an assistant that quickly accesses their database of approximately 100,000 research reports and documents.
- Klarna, one of the first banks to adopt ChatGPT, is using the Enterprise version to personalize customer service and recommendations for products that match its “Buy Now, Pay Later” format.
- Stripe is using ChatGPT-4 to analyze community platforms for potential scammers and strengthen their inbound fraud detection.
- Orion is using a ChatGPT-5 integration with Redtail, dubbed “Redtail Speak,” to generate text responses to data from earlier messages between clients and advisors.
What is Einstein GPT?
ChatGPT’s newest alternative for businesses and customers is Einstein GPT, a Salesforce product marketed as the “world’s first generative AI CRM technology.” Revealed in March 2023 at the annual TrailblazerDX, the tool packs a punch as it merges CRM data with AI privately developed by Salesforce and technology acquired from OpenAI’s partnership. This robust combo of ChatGPT’s 570 GB database and Salesforce’s customer relationship management eliminates tedious switching between tabs. In a singular prompt, a sales development representative can generate individualized content that follows a concise writing template.
Einstein GPT streamlines sales, service, marketing, commerce, app builders, and Slack, the business messaging platform. As it adapts to these many platforms, you may wonder if its versatility has a downside: reduced security. Fear not, Einstein GPT is an AI that uniquely earns its users’ trust. What do we mean by this? Drum roll, please!
The Einstein GPT Trust Layer
Trust is a glaring issue preventing some finance services from fully embracing ChatGPT, which experienced a breach only four months after its launch. A blog authored by OpenAI revealed that hackers exposed payment data of “1.2% of the ChatGPT Plus subscribers who were active during a specific nine-hour window.” The blog attempted to calm subscribers by listing six rectifying actions they’d taken; however, their association with breaches remained in the headlines. Just three months later, a cybersecurity report stated that malware on users’ computers was stealing info from over 100,000 ChatGPT accounts.
Salesforce has prioritized gaining trust with its Einstein GPT Trust Layer. The tool securely retrieves and masks identifying information from CRM apps. It then uses dynamic grounding to ensure the LLM’s answers are contextually appropriate and accurate. The result passes through a secure gateway that can’t retain data, and the final product, the generated prompt, is audited and monitored for any toxic content.
The trust layer’s thorough process does not interfere with excellent customer service. Once Salesforce has confirmed the generated prompt is appropriate for a customer, it returns to the user, who can make changes that fit their brand voice. Recently, Gucci, the pilot customer of Einstein GPT, leveraged the CRM database to unify their brand voice and product knowledge across 600 client advisors. The trust layer is mutually beneficial: global customers enjoy speaking to a human with the speed of an automated process, and sales development representatives implement large language models that protect their data.
Image retrieved from Salesforce.
Though EinsteinGPT is a newer Salesforce product, its impact is quickly transcending luxury fashion brands–check out these financial services use cases:
- RBC Wealth Management is using performance metrics from Einstein GPT to guide managers and executives as they track a branch’s portfolio value, revenue, and active campaign. Their client service is soaring too, with an onboarding process completed in 24 minutes.
- Pentagon Federal Credit Union is efficiently answering concerns about inflation and inconsistent interest rates by implementing realistic Einstein Chatbots into their digital customer service. So efficiently, in fact, that it’s caused a 223% increase in chatbot activity in the past year.
Both ChatGPT and EinsteinGPT are chatbots offering their own unique capabilities and applications. ChatGPT is specifically developed for conversational interactions and providing engaging, contextual responses to prompts and customer feedback. EinsteinGPT harnesses generative AI to provide advanced language processing and analysis, making it suitable for complex tasks such as data analysis, report generation, and providing in-depth insights. In addition to its partnership with OpenAI, Einstein GPT has the personalization of Salesforce’s CRM technology and their innovative trust layer.
Ultimately, your preference for ChatGPT or EinsteinGPT depends on the specific needs of your business. As you make this decision, our Salesforce consultants can prepare your database by leading data cleansing efforts, ensuring that the information fed into AI models is accurate and reliable. Integrating AI is a new chapter in streamlining business communication and structure, and Access Global Group is happy to begin this change with you.
Why AGG?
When it comes to selecting the right partner for technology integration and digital transformation, the experience of the company you choose is of utmost importance. Access Global Group is a Salesforce Summit (Platinum) level partner with nearly two decades of experience in Salesforce support, maintenance, and management services. Our team of certified experts knows Salesforce inside and out, meaning that when they come to you, no stone is left unturned and any conflicts are quickly addressed with agility and accuracy. With 5-star ratings on the Salesforce AppExchange and G2, our team offers a unique blend of global deployment expertise coupled with the agility of a boutique firm and a one-of-a-kind project methodology that places our clients at the forefront of every decision. Your successes are our successes, so we’re dedicated to providing solutions that align with your evolving requirements and aspirations.
We invite you to reach out to us with any questions or concerns regarding your Salesforce instance, we’d be happy to discuss a solution that best fits your needs at this time.
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