GPT-4-generated pitches are 3x more likely to secure funding than human ones
Acquiring investor funds is a crucial component of the success of many businesses. But it's easier said than done. Business professionals constantly present carefully put-together presentations for investors, only for many of them to be uninterested.
ChatGPT could help not only to get investors to take the bait but also to invest more money.
Also: 5 ways to explore the use of generative AI at work
Creating pitch decks for investors is a demanding task as they must showcase the company's recent achievements in a compelling manner to attract investment. This involves presenting a thoughtful and promising business plan and trajectory.
Using an AI chatbot to create these decks, specifically GPT-4, reduces the time involved significantly. Although the time savings is impressive, it's important to examine the most important aspect -- the quality.
Clarify Capital, a small business lender, asked 250 investors and 250 business owners to rate a set of human-created and GPT-4-generated pitch decks without letting the participants know that AI was involved.
Also: These are my 5 favorite AI tools for work
To make matters more interesting, the human-generated pitches were successful ones that had secured funding in the past.
The results showed that GPT-4 pitches were overall more effective than those made by humans. The AI-generated pitches beat out human ones in quality, key element description, and problem description.
According to the survey, the investors and business owners were three times more likely to invest after reading the GPT-4 deck than the human one, and they found the AI-generated decks twice as convincing.
Furthermore, one in five of those professionals said that they would invest $10,000 more in the AI-generated pitches.
Also: Generative AI can save marketing pros 5 hours per week, according to research
The survey also tested the effectiveness of the decks across different industries, including finance, marketing, and investment. Unsurprisingly, across all of these industries, the GPT-4 decks were more successful in securing investments.
The survey doesn't disclose which GPT-4-based AI chatbot the survey is using. However, if you are interested in trying GPT-4 for yourself, you can use Bing Chat for free or subscribe to ChatGPT Plus.