It seems like all people have been talking about for the last couple of months are developments in Artificial Intelligence (AI) tools, and in particular, the launch of OpenAI’s ChatGPT. This natural language processing model can answer pretty much any question you ask it, to which it will give a human-like response. Its answers are generated from heaps of data collected from all corners of the Internet.
Although this mind-blowing technology can seem conceptually overwhelming, it can revolutionize the way in which you think about and manage your investor relations strategy. Today we want to flag 3 key things we think this tool could offer your IR team and business:
Automation = Efficiency. ChatGPT can help businesses respond to investor inquiries more quickly and efficiently, providing personalized and accurate information. It can be used to automate various tasks, such as sending out regular updates, responding to FAQs, and monitoring social media channels for mentions and comments. Don’t worry about these replies sounding like a bot. By analyzing the language and tone of investors’ questions and concerns, this model can provide tailored responses to address specific needs. Of course, since the tool is still in Beta, we would suggest that humans read things that are sent out to investors first, but having an initial draft you can work on will certainly make you feel you have a new personal assistant.
Data search and processing. This tool can also be used to analyze and summarize large volumes of data and extract insights. With this, it can help IR teams identify market peers and trends, as well as areas for improvement in communication strategies. Greater and better data makes for more informed decisions, allowing you to stay ahead of the competition.
Content creation. Have you ever been stuck on a press release’s paragraph because it just doesn’t sound quite right to you? Or tried to make sense of a long, run-on sentence in a report? ChatGPT can help with that, too. Creative roadblocks and word choice issues can be handled with this tool, as well as summarizing bulky texts. It is still important that you stick to your company’s established style and tone, but AI can certainly give you fresh ideas.
Other AI tools you may find useful when structuring your IR communication:
- Cleanvoice: Removes all filler words, such as stuttering, “uh”, and “um”, from your recordings. This could prove useful if you want to improve the quality of conference call audio tracks uploaded to your Investor Relations website.
- Durable: It can write the copy to and build entire business websites in less than a minute. If you’ve been wanting to give your IR webpage a facelift, this could at the very least provide some ideas.
- Poised: Coaches your communication by analyzing wording and tone through language models. This could help you get your key points across to potential and existing investors in future meetings or public speaking events.
- Tome: This tool creates narrative-driven presentations based on a single prompt, including AI-generated visual assets and design. As videoconference and webinar formats become more popular for hybrid quarterly calls and investor days, having strong visual aids to back up your message adds value.
- Vidyo: Automatically selects, edits, and captions top moments from your long-form videos to create short clips. We see this as an opportunity to create more video content for your IR website or social media accounts, perhaps highlighting key moments from a conference your C-Suite participated in or a cropped version of your corporate video.
- Wordtune: Provides dozens of rewrite options for paragraphs, sentences, and words to improve your writing quality. This one speaks for itself, but it could help you with e-mails, reports, scripts, and more.
It is worth noting that ChatGPT still requires customization and training to suit the specific needs and requirements of a company’s investor relations function. It should not be seen as a replacement for human interaction and communication, both critical to your IR efforts and relationship with the market. That being said, we can’t wait to see how this evolves!
Are you ready to take your day-to-day Investor Relations activities to the next level?
P.S. Did you notice that we generated some of this blog’s content with ChatGPT?
Sources:
Contacts at Miranda Partners
Damian Fraser
Miranda Partners
damian.fraser@miranda-partners.com
Ana María Ybarra Corcuera
Miranda-IR
ana.ybarra@miranda-ir.com
