When the AI chatbot ChatGPT was released in November 2022, it quickly took off on social media, attracting one million users in just five days as people began experimenting with what it could do.

Whether you request it to write computer code, pen a poem in a pirate voice, or explain complex scientific concepts, its advanced conversational capabilities have unfolded in real-time, providing the creator OpenAI with users’ feedback to learn about its strengths and weaknesses.

Almost two years later, its capabilities have been realized by businesses and individuals using it for a vast range of tasks. From enhancing productivity to adding a bit of fun to your routine, here are some creative ways to use ChatGPT in both professional and personal contexts.

1. A personal virtual assistant

ChatGPT can help with simple tasks that free up your time for other work. Try asking it to write an email confirming an appointment or to schedule a reminder to submit a report. You can also use it to help with meal planning for the week or ask it to create an itinerary for a weekend getaway.

“I treat ChatGPT like my personal virtual assistant, keeping it open on my secondary screen all day and referring to it as I work,” says technology and management accountant Heather Smith FCA.

2. Analyze a contract or policy document

Reviewing densely worded and complex legal or financial contracts takes time, and it can be hard to find the relevant clause you may be looking for. Smith says she recently used ChatGPT to make sense of a wordy travel insurance policy document, saving at least half an hour of work.

“I uploaded the 100-plus page product disclosure statement and in natural language explained what happened, asked if I was entitled to any compensation, how much I was eligible for, and to provide the section I should review.

“It immediately responded with a comprehensive answer and referenced the source it was drawing from. I then asked what steps I needed to take to apply for compensation and actually decided not to submit the claim as it wasn't worth my time,” she says.

3. Explain a formula or process

Save time looking up a complex formula and ask ChatGPT how to do it – or, if you’re having trouble with a formula, ask it to check your results. For example:

Prompt: “I’m getting unexpected results from my cash flow forecast with formulas. Can you help?”

Response: “Sure! Please provide the formula you’re using and the values you’re inputting. I can help identify any potential errors or issues.”

In this case, you could upload the spreadsheet, so ChatGPT can review the formulas.

4. Brainstorm ideas

ChatGPT can be a valuable resource for brainstorming ideas. See what it comes up with when you ask it to generate service ideas, such as financial planning, tax consulting, or bookkeeping for niche markets.

You could also ask it to help with marketing and promotion strategies, including exploring ideas for strengthening your brand, such as unique selling propositions and brand messaging.

5. Create operational efficiencies

Ask ChatGPT for ideas on how to improve your processes. It can propose ways to streamline operations, such as adopting new technologies, automating repetitive tasks, or improving client communication.

Use simple and instructive language, asking for help in identifying inefficiencies in current processes by analyzing workflows and pinpointing bottlenecks. It can then offer some suggestions for reviewing and mapping out existing processes to find areas for improvement.

“One of the keys to success is to be prepared to ask it a few follow-up questions,” says Smith. “If the response does not suit your needs, explain why it is incorrect and refine your question.”

6. Tackle difficult conversations

For some people, having a difficult conversation with a colleague or client is one of the hardest parts of a professional relationship. Handing it over to a chatbot takes the emotion out of the equation and can save a lot of time that would otherwise be spent crafting what to say.

“ChatGPT can help with difficult conversations accountants need to have, such as firing clients, highlighting ethical issues, delivering bad financial news, or chasing paperwork or late payment. It can write an email to assist in dealing with a situation, or it can provide bullet-point topics to cover in a conversation,” says Smith.

“You can even go a step further and ask ChatGPT to role-play the situation so you can practice the conversation and be prepared for any follow-up questions that may be asked.”

Importantly, to get the most effective and precise answers from ChatGPT, it helps to be specific in your questions, though Smith warns against entering any confidential information.

“If I wanted to analyze a profit and loss statement, I would provide the generic information about the client – for example, ‘a small Brisbane manufacturing organization’,” she says.

Review your AI

AI technology is powerful and timesaving, but there are failures. Importantly, when using ChatGPT, the results require a human touch. Content should be reviewed by a person because anomalies are only identified with a human looking at what the technology emits.

“Never enter confidential information and always check the reasonableness of the response, as sometimes ChatGPT hallucinates and confidently creates a response,” Smith says.