Science & Technology

OpenAI Approaches $1 Billion of Annual Sales

The media reported that the annual revenue of OpenAI is approaching the landmark mark of $1 billion.

OpenAI Approaches $1 Billion of Annual Sales

The positive financial dynamic of the company headed by Sam Altman is the result of the fact that many firms are actively implementing the technology on which ChatGPT is based, a chatbot with generative artificial intelligence that has become popular and launched a boom in the AI industry. The consequence of the growing popularity of machine intelligence as such against the background of the impressive capabilities of OpenAI offspring was the attention of investors to the relevant sphere of activity.

Currently, a startup that has created the world’s most popular AI-based chatbot receives monthly revenue of about $80 million. The relevant information was reported by the media with reference to a person who is aware of the financial performance of the company and spoke about this aspect of the firm’s activities on condition of anonymity. At the same time, there is information that last year OpenAI lost about $ 540 million due to the development of GPT-4 and ChatGPT.

The startup is one of several companies that are at the forefront of the development of artificial intelligence. The current level of functionality of the new generation technology allows digital intelligence to create a variety of content, including generating videos and writing works of poetic art. These AI capabilities are activated with a few simple commands received by the machine intelligence model from the user.

Currently, OpenAI, supported by the technology giant Microsoft, actively cooperates with companies, including startups and large firms, as part of the introduction of advanced technology into their business.

At the end of August, the corporate version of ChatGPT was launched. This chatbot configuration offers consumers additional features and privacy guarantees. The corporate version of the digital product, according to experts, is the most significant attempt by a startup to attract business customers and increase the income received from ChatGPT.

The chatbot created by OpenAI specialists has a high level of popularity, but at the same time, its operation requires significant costs due to the fact that reliable AI configurations need large computing power. Prior to the release of the corporate version of the digital product, the startup had already launched commercial solutions for its monetization, selling a premium subscription and offering paid access to its application programming interface, with which developers can add ChatGPT to other applications.

Many companies currently do not understand well at what point of development they are in the space of new technological realities, where the main mechanism for moving forward is AI. At the same time, all firms are aware of the need to introduce artificial intelligence into their business as a kind of obvious given the coming high-tech era.

Control over machine intelligence in the context of the active development of AI is one of the problems discussed around the world. Cary Coglianese, the founding director of Penn’s Regulatory Program, says that, with a high degree of probability, there will not be any one unified institution engaged in monitoring the development of artificial intelligence. According to him, there is no universal action that allows one solution to cope with all the complexities of controlling AI.

Johann Laux, British Academy Postdoctoral Fellow at the Oxford Internet Institute, says that technical standards have yet to be created to regulate artificial intelligence. According to him, the AI systems audit industry should appear.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.