Since December, LinkedIn has been filled with positive reviews and prompt templates about the generative AI tool, ChatGPT almost to the point that most of us are inundated with all the information. There are individuals who go to the extent of claiming that their jobs would be taken over by AI and I wanted to evaluate its effectiveness for Product Management as a function. Some of the responses were impressive, while others were not satisfactory.
After hours of exploration, I realized GPT-3 is not without its flaws. One of the most significant challenges with this model is its tendency to "hallucinate." This means that it may provide nonsensical or false responses depending on the prompt given to it. Another problem with GPT-3 is that it has a knowledge cutoff, which means that it relies on information available up to 2021. But with ChatGPT 4 on the horizon, I anticipate that the quality of responses will drastically improve and it can significantly transform the discipline of Product Management.
In this essay, we will explore the various ways in which product managers can leverage ChatGPT as a powerful tool with example prompts.
Example prompt: Write a short email to new users who join a weight loss program like Noom to excite them about the program.
Example prompt: Assuming TAM is defined as Total addressable market, how would you calculate the TAM for a weight loss product in India as a product manager?
Example prompt: What are some ways in which a ridesharing company like Ola can increase the number of rides booked per user in a month ?
Example prompt: Assume you are building a digital weight loss product with a human coach. You are launching a new feature to connect users' fitness devices to the app. Using “Amazon's working backwards model”, write a press release for this feature. Add metrics and give it a catchy title.
Example prompt: Using guidelines mentioned in Teressa Torres's book "Continuous discovery habits" formulate a survey to capture feedback for a fintech product that helps users buy stocks and mutual funds.
Example prompt: I am developing a SaaS product for the Indian market that helps restaurants directly sell to their customers through branded websites and mobile apps without going through a marketplace. We help users build a personalized website with their branding, customize the menu, launch a white labeled mobile app and run loyalty deals. Our unique value proposition is that we auto-suggest seasonal push notification and email campaigns. Can you write a competitive intelligence report comparing us to other players ?
Example prompt: Assume you are a product manager for a product that requires non-tech savvy admins to upload images, write text about places and events around them and this information appears on the app. There should be a preview feature as well to see how the data will look on the app. Should I build this custom content management system or use existing solutions in the market ?
Example prompt: What is a decentralized front end ?
Some other use-cases are as follows:
There will be multiple products built on top of ChatGPT or using it to deliver value similar to no-code solutions available today. One can train the GPT-3 model on user feedback and reviews to identify common themes and pain points. Lenny’s newsletter featured an article on Lenny’s bot, where users can ask the bot questions, which is trained on Lenny’s newsletter archives. So instead of having to search across articles to get retention benchmarks, you simply query the information. To conclude, ChatGPT and other AI solutions will always have limitations, but those will shrink.
Additional reading:
What use-cases have you tried ChatGPT for?
Since December, LinkedIn has been filled with positive reviews and prompt templates about the generative AI tool, ChatGPT almost to the point that most of us are inundated with all the information. There are individuals who go to the extent of claiming that their jobs would be taken over by AI and I wanted to evaluate its effectiveness for Product Management as a function. Some of the responses were impressive, while others were not satisfactory.
After hours of exploration, I realized GPT-3 is not without its flaws. One of the most significant challenges with this model is its tendency to "hallucinate." This means that it may provide nonsensical or false responses depending on the prompt given to it. Another problem with GPT-3 is that it has a knowledge cutoff, which means that it relies on information available up to 2021. But with ChatGPT 4 on the horizon, I anticipate that the quality of responses will drastically improve and it can significantly transform the discipline of Product Management.
In this essay, we will explore the various ways in which product managers can leverage ChatGPT as a powerful tool with example prompts.
Example prompt: Write a short email to new users who join a weight loss program like Noom to excite them about the program.
Example prompt: Assuming TAM is defined as Total addressable market, how would you calculate the TAM for a weight loss product in India as a product manager?
Example prompt: What are some ways in which a ridesharing company like Ola can increase the number of rides booked per user in a month ?
Example prompt: Assume you are building a digital weight loss product with a human coach. You are launching a new feature to connect users' fitness devices to the app. Using “Amazon's working backwards model”, write a press release for this feature. Add metrics and give it a catchy title.
Example prompt: Using guidelines mentioned in Teressa Torres's book "Continuous discovery habits" formulate a survey to capture feedback for a fintech product that helps users buy stocks and mutual funds.
Example prompt: I am developing a SaaS product for the Indian market that helps restaurants directly sell to their customers through branded websites and mobile apps without going through a marketplace. We help users build a personalized website with their branding, customize the menu, launch a white labeled mobile app and run loyalty deals. Our unique value proposition is that we auto-suggest seasonal push notification and email campaigns. Can you write a competitive intelligence report comparing us to other players ?
Example prompt: Assume you are a product manager for a product that requires non-tech savvy admins to upload images, write text about places and events around them and this information appears on the app. There should be a preview feature as well to see how the data will look on the app. Should I build this custom content management system or use existing solutions in the market ?
Example prompt: What is a decentralized front end ?
Some other use-cases are as follows:
There will be multiple products built on top of ChatGPT or using it to deliver value similar to no-code solutions available today. One can train the GPT-3 model on user feedback and reviews to identify common themes and pain points. Lenny’s newsletter featured an article on Lenny’s bot, where users can ask the bot questions, which is trained on Lenny’s newsletter archives. So instead of having to search across articles to get retention benchmarks, you simply query the information. To conclude, ChatGPT and other AI solutions will always have limitations, but those will shrink.
Additional reading:
What use-cases have you tried ChatGPT for?