As artificial intelligence (AI) becomes more entrenched in day-to-day business activities, mortgage professionals shared how they have used ChatGPT to boost revenue and productivity.
Two mortgage brokers and two mortgage-focused marketers shared their insights with free UK news agency, Newspage – with one labelling the AI software as “invaluable.”
Miles Phillips, founder at Essex-based Miles Marketing, said: “I’m a subscriber to GPT-4 and, as someone with dyslexia, it’s been invaluable to me.
“My strength lies in creative writing, though I sometimes struggle with spelling, grammar and coherence. That’s where GPT comes into play.
“I draft my copy and then turn to GPT for enhancements. It’s crucial to note that the quality of the output largely depends on the quality of the input, with clear commands essential.
“With that said, here’s a thought for you: was this written by me, or by ChatGPT?”
Stephen Perkins, managing director at Yellow Brick Mortgages, added: “ChatGPT is best for creating written content for websites, blogs or social posts.
“However, rather than using it to write the content and therefore risk this not being accurate or unique, it can instead be a great tool for suggesting topics and questions best to answer.
“For example, we ask it to list the most common questions from first-time buyers, and then we write answers to those as content.”
Scott Taylor-Barr, financial adviser at Barnsdale Financial Management, said: “As with any new and emerging technology, ChatGPT and other large language models create many opportunities and can help smaller businesses streamline and compete with bigger market participants.
“However, with anything like this, there are always risks. The biggest one for many will be around Data Protection.
“If you use the ‘free’ version of the system then the data you put in is added to the system’s library for use in other tasks by other users, which is a huge issue if you are adding in client data or confidential business data.
“It’s the fine print in the T&Cs that will trip up many business owners if they rush to adopt without really understanding the full implications of what they are doing.”
Dan Reddish, financial services business consultant at Dan Reddish Consulting, concluded: “I help mortgage brokers and IFAs with ChatGPT through an online coaching programme showing my clients how technology can help grow their businesses.
“We use ChatGPT to help with market research and to build a marketing persona of the ideal client, which previously took months of talking to people, putting out surveys and social media posts.
“Now, ChatGPT does this in seconds. We then prompt it to optimise clients’ social media profiles based on the market research it has already given us and the psychology of their chosen market, which effectively turns their profiles into landing pages.
“We prompt ChatGPT to review LinkedIn profiles where it goes through every data point in the adviser’s profile and gives suggestions to improve it while scoring it out of 10.”
