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February 8th, 2023
This AI Software Is Spreading Like Wildfire
With ChatGPT, users can ask questions and have their inquiries answered quickly and accurately.
And it’s been taking the world by storm – it’s the fastest-growing app in recent memory- with 100 million active users two months after launch. To compare, it took Facebook four years and six months to hit that same benchmark.
ChatGPT is a revolutionary AI technology developed by OpenAI. Conquering the globe with gusto, ChatGPT has the potential and mission to revolutionize many industries.
From medical advice, finance, and education, to customer service – by leveraging its internal data sources to provide better answers than a human.
For example, if a person wanted to learn how to code an app for their smartphone, ChatGPT could walk them through the process step by step.
Instead of refining the search, sorting through multiple posts to find something of quality, teaching themselves how to do it, making sure they do it right, going back endless times to fix the bugs, etc., etc.
Now, AI software makes the process one step. Provide input, and allow the tech to do it for you. Or, at the very least, eliminate the process of searching multiple websites to gain a full understanding of the topic.
AI has just begun to make a name for itself, but many companies are feeling the effects of its frenzy already. Let’s have a look at some below.
Microsoft Invested $10 billion (To do what? Take down Google?)
Google’s decision to launch their own AI, Bard AI, and lay off 6% of their workforce could be symptoms of the pressure from Microsoft’s $10 billion investment in OpenAI. And on January 23, OpenAI announced an extension of the partnership.
Nobody’s quite sure if Microsoft is trying to scare them, but there are signs they’re quaking in their boots. Satya Nadella, who is Microsoft’s CEO said recently,
“We formed our partnership with OpenAI around a shared ambition to responsibly advance cutting-edge AI research and democratize AI as a new technology platform.”
Hear that Google? They’re out to de-mo-cra-tize. No wonder they’re scared.
Plus, Microsoft stands to benefit 75% profit share until it gains its money back, then a 49% stake in ownership. So it’s clear they have the motivation to get OpenAI moving.
OpenAI is Now Offering a Subscription Service
On February 1st, OpenAI announced the subscription-based version of their AI, ChatGPT Plus, and will help them generate funds for research as well as integrate the AI into everyday life.
Nvidia and Other AI-Adjacent Stocks on the Rise
The success of OpenAI and ChatGPT has had a trickle-down effect. Nvidia (an AI company) and other AI-adjacent stocks have seen a jump in the last month.
NVIDIA Corporation (NVDA)
Plus other companies are experiencing this boost, including C3.ai, Inc. (AI), SoundHound AI, Inc. (SOUN), Meta Platforms Inc. (META), and BigBear.ai Holdings, Inc. (BBAI).
And AI frenzy is going global. Baidu (BIDU), up by over 11% since February 6, is China’s leading search engine and planning on launching its version of ChatGPT as early as March.
What do you think? Is AI just a fad? Does it have real potential? Would you feel comfortable using a chatbot to make your investment decisions? Let us know!
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