Practical uses of ChatGPT for your business 

AI or Artificial Intelligence is the rage and it should be as it will likely transform the way we work, live, and work. But more importantly, how can reverse mortgage professionals take advantage of one of the most popular AI tools- ChatGPT? I came upon the answer in a recent column in Forbes which outlines some practical ways one can use ChatGPT to improve their way of doing business.

One is to have ChatGPT review and edit your emails- before you send them. For example, you could write “Please edit this email that will be sent to an older homeowner about reverse mortgages. Edit the text to ensure the tone is clear and professional and check for grammatical or spelling errors. If you don’t like the result just click the backward arrow to regenerate another response.

Do you have a blog or newsletter but you’re stumped on what to write? ChatGPT can help brush that writer’s block away. At the prompt, you could enter “I’m a reverse mortgage loan originator wanting to target older homeowners in the greater San Antonio area (for example). The blog posts will focus on the role of home equity in retirement, sources of additional income in retirement, aging in place, and how to ensure you enjoy your golden years. Please generate 10 ideas. Each idea should be 250-350 words or less”. 

Now that’s pretty detailed, right? It is and that’s the secret to getting the best possible results from any AI engine like ChatGPT. 

Now let’s leverage AI to generate some marketing ideas to attract more reverse mortgage borrowers. You would enter, “I want you to act as a marketing specialist. Please generate ideas for attracting more potential reverse mortgage borrowers. My company serves seniors in the greater northwestern U.S.  Please come up with innovative ways to reach new customers. Please give five ideas. Each idea should be 50 words or less.”

Before we go here are some other ideas on how you can use ChatGPT. You can copy and paste an article or blog post and ask ChatGPT to rewrite your article. You could also ask for ideas for a company slogan, tagline, or branding ideas. The possibilities are nearly endless.

Remember, the trick to ChatGPT is to craft detailed and focused prompts for the best results. And speaking of results, be sure to check your results for potential errors. After all, AI is always learning and improving just like us.