What’s The Difference Between EliseAI and ChatGPT? Building An Agile Multifamily AI

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Lately, we’ve been asked some excellent topical questions from our more inquisitive partners: Are you using ChatGPT in your product? Does ChatGPT’s advanced AI make a difference for the industry?  At EliseAI, we’re always leveraging cutting-edge research tech like ChatGPT to improve our product. To understand the full impact of ChatGPT, you have to understand how it’s built (and how we build EliseAI); with natural language processing (NLP). 

A Brief Timeline of Natural Language Processing, EliseAI, and ChatGPT

  • Natural Language Processing (NLP) is a type of machine learning, giving AI the ability to understand text and spoken words 
  • Natural Language Processing has been around since the 1950s. 
  • EliseAI was named after ELIZA, an NLP program developed in the ‘60s.
  • In 2017, NLP advanced rapidly when Google invented a new type of machine learning model called a “Transformer.” 
  • In 2020, OpenAI released a powerful model called GPT-3. GPT stands for Generative Pre-trained Transformer.
  • In 2022, OpenAI released ChatGPT built on GPT-3 with enhanced conversational capabilities.

How does EliseAI use ChatGPT?

At EliseAI, we always test the newest machine learning models, like ChatGPT, as soon as they are released, because it’s the only way to create the best AI platform for our customers. 

We balance using the latest, most advanced research models and our in-house machine learning models to build our advanced AI. ‍

For example, we use ChatGPT to…

  • Teach our AI to have different “personalities”
  • Make these AI personalities distinct and unique from each other
  • Make our AI feel even more human-like when responding to prospects and residents 

However, ChatGPT lacks industry context, so we use our proprietary machine learning models to teach our AI assistants in-depth knowledge of specific properties and the housing industry, training them with advanced integrations and millions of prospect and resident interactions.  

You can think of ChatGPT as a new hire who has never been trained, while EliseAI is the best, most experienced agent you’ve ever hired, who also works 24/7 and never gets sick.

How is EliseAI different from ChatGPT?

While both EliseAI and ChatGPT are built using advanced natural language processing, they use NLP differently.

Here are the major differences between EliseAI and ChatGPT: 

1. EliseAI is brand-safe. 

You can see in the news that even big technology companies like Google and Microsoft are struggling to keep their broad-ranging AIs in line. Our domain expertise and deep integrations have enabled us to build guardrails around our AI that restrict its ability to go off-script.

 

2. ChatGPT’s knowledge is limited to 2021 data

ChatGPT is focused on generating human-sounding text like poems, essays, social captions, and more, but its information is outdated. Its goal is also different than EliseAI, with ChatGPT built to provide a satisfying answer to any question, working off a limited subset of data. 

3. EliseAI has domain expertise and industry context 

EliseAI’s goal is to get more people to tour in as few steps as possible. Our AI can understand multifamily conversations, workflow processes, and the requirements for different types of housing (conventional, affordable, student, and more) similar to your leasing teams. 

 

4. An EliseAI AI Assistant is constantly ingesting and updating your data. 

When fully integrated with your software, the AI can… 

  • Accurately answer specific questions about amenities, pet policies, views, laundry, square footage, floor location, and more
  • Automatically adjust responses based on renter preferences, availability or specials
  • Auto-update guest card information based on where they are in the renter funnel 
  • Keep your team updated on prospect activity 
  • Cross-sell across your portfolio, based on prospect location and preferences 
  • Alert you if it needs help answering a prospect or resident in real-time

 

How does NLP benefit the housing industry and work for EliseAI specifically? 

At EliseAI, we use existing industry, conversational, and CRM data, to train your AI Assistant with NLP. So EliseAI assistants can create an interaction across emailchatphone, or text, and efficiently convert leads into renters, using its advanced knowledge of millions of leasing conversations and bottomless industry context.

Natural Language Processing teaches EliseAI Assistants to…

  • Identify prospect and resident names, schedules, and personal information 
  • Auto-populate guest cards and schedule tours 
  • Understand specific multifamily and housing terminology
  • Answer accurately after integrating with your software  
  • Anticipate the direction of the conversation and move the lead forward
  • Understand grammatical errors, slang, and typos
  • Convert voice data into text data, enabling call transcriptions in EliseCRM 

Through natural language processing, your AI has specific conversational skills or features that can provide more information and engaging content than just a simple answer.

See an example of an interaction between AI Assistant Elise and a renter. Elise answers multiple questions before pushing the conversation forward. 

The ability to use cutting-edge technology to deliver a customized, industry AI expert is the reason we have become the leading vendor of major industry players like Greystar, Cardinal, Asset Living, AvalonBay, Bozzuto, and more. And while there’s no doubt that ChatGPT can transform industries, EliseAI’s specific natural language processing techniques give our partners the competitive edge in lead-to-lease.

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