Loopio’s Powerful AI Toolkit (GPT Included)
Artificial intelligence (AI) and emerging tech under this umbrella (like ChatGPT) are hot topics right now… and for good reason. Generative AI is powerful. It can help you brainstorm ideas, adjust your tone, and summarize competitive research in seconds.
But GPT is just one tool in a team’s AI toolkit.
Over the past four years, Loopio’s expert team of data scientists and machine learning (ML) engineers have built an array of innovative AI features. The technology they’ve built, alongside new GPT advancements, will help usher in a new era of efficiency for RFx teams.
In this blog, you’ll learn what’s included in our team’s comprehensive and powerful AI toolkit (including our brand-new GPT functionality).
Read on to discover:
How AI Helps With RFPs and Questionnaires
Simply put, AI is a tool that can improve efficiency by completing tedious tasks (like tracking down SMEs), so you can focus on what matters, like strategically tailoring proposals for each customer.
AI speeds up the process of responding to RFPs by:
- Reducing research time by using generative AI to find and summarize information in a few clicks
- Reducing time to first draft by automatically filling in relevant answers using natural language processing
- Reducing review time by auto-assigning answers to subject matter experts (SMEs) with machine learning
- Increasing win rate through AI-powered content recommendations, which improve response quality
That said, the industry is still divided on how to use AI, specifically GPT, in their process.
Between concerns about security and content quality, there are some important challenges to address before GPT is more widely accepted by those in proposal management (more on how our approach to AI addresses these concerns below).
Are RFP Teams Using Generative AI?💡(Specifically ChatGPT)
In May 2023, we asked 386 customers how likely they were to use generative AI, and the results were surprisingly polarizing. A quarter said they were “Not likely at all to use generative AI”, nearly a third said, “Very likely”, while the remaining 45% sat somewhere in the middle.
How Likely Are You to Use Generative AI to Respond to an RFP?
Source: Loopio Labs, the research arm of our Product, Design, and Engineering team.
Loopio’s Approach to Generative AI
After hearing feedback from hundreds of customers, we’ve developed three key pillars that guide Loopio’s approach to our GPT solution. The three pillars of Loopio’s approach to generative AI are:
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Trustworthy Sources
Ensuring the sole source of generated information is your team’s library (not the internet), so you know the information is original and relevant.
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Human ‘Copilots’
Our interface is intuitive so that SMEs and other teammates can easily review and improve generated results.
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Customer Choice
At both the account and individual level, every customer will be able to opt-in or out of AI.
We focus on these three pillars because we believe that a thoughtful, user-driven approach to AI, means placing control in the hands of people like you. (Keep reading for a preview of how it works.)
See How Loopio’s Generative AI Works
How does generative AI work in Loopio? You can now craft unique answers to your questions, based entirely on the trusted (and secure) information that you have in your content library.
Simply select the question you want Loopio to answer, then hit the ‘Generate Answer’ button, and voila! Loopio will craft a unique answer for your RFP, based entirely on the trusted information you already have in your content library.
🎥 Video: How to Generate Answers in Loopio
More Ways to Use AI in Loopio 🤖
Artificial intelligence (AI) has been part of Loopio’s platform for several years, including a number of proprietary features launched under the Response Intelligence™ umbrella in 2021.
Since we started integrating AI into Loopio, our focus has always been on empowering teams to create high-quality, winning content. Beyond GPT, other AI-powered features in our platform can help you:
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Improve Your Answers
AI
With Loopio, you can analyze written content from your library, and receive helpful suggestions. A feature that demonstrates this is Content Recommendations, a powerful AI model that’s unique to our platform.
After analyzing 100,000 projects, we found 70 different data points related to RFP writing best practices, which correlate with higher win rates. All that knowledge is used to provide content suggestions—which, in turn, help you decide how to improve your answers.
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Recommendations for Internal Experts
AI
As companies grow, it becomes increasingly challenging to identify the right person to answer or verify responses in a proposal. That’s why we developed an AI-powered feature to address this, called Recommended Experts.
This functionality identifies and connects you with the right subject matter expert (SME) in your organization to quickly review the accuracy of a response.
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Generate Content
AI
Generative Content is the popular new kid on the block. 😎 Examples of generative content include ChatGPT, which creates answers in seconds based on the information you provide.
We’re constantly enhancing our AI capabilities, which includes the recent release (fall 2023) of our new GPT functionality. This works alongside Magic, a long-standing favorite feature that automates steps in the response process today.
Using AI-powered natural language processing, Magic understands the meaning of questions and answers whilst automatically filling in your proposal.
Combined with GPT, Loopio helps shorten the time to first draft by reusing or generating new answers based on the trusted content in your library.
Want to see Loopio’s generative AI yourself? 🤖
Contact our team to book a demonstration of Loopio and see how it works.