The popular chatbot has become a symbol of the promises, perils, and potential profits of artificial intelligence
ChatGPT, the free chatbot released in November 2022 by the artificial intelligence (AI) research company OpenAI, has taken the internet by the proverbial storm. In its first months of existence, ChatGPT inspired users to imagine a host of use cases for the model, including using ChatGPT to negotiate parking tickets, make workout plans, and even create bedtime stories for children.
Some artificial intelligence experts believe that ChatGPT could revolutionize both the way that humans interact with chatbots and AI more broadly.
Others have expressed serious concerns about the technology's potential for harm. Below, we explore this new technology and how it is poised to begin making money.
How Does ChatGPT Make Money?
OpenAI, the company that created ChatGPT, has not yet monetized ChatGPT on a wide scale, although that was not necessarily its motive, at least at the outset. OpenAI launched as a nonprofit in 2015, relying on donations for funding. Over time, however, "It became increasingly clear that donations alone would not scale with the cost of computational power and talent required to push core research forward, jeopardizing our mission," the company says. So in 2019, it created a for-profit subsidiary overseen by the nonprofit's board of directors.
A free version of ChatGPT remains available on OpenAI's website. In addition, the company has introduced a premium version, ChatGPT Plus, with a subscription price of $20 per month.
The free version uses ChatGPT-3.5, while the paid one uses ChatGPT-4.0, which the company refers to as "our most capable model."
In addition, the company sells its application programming interface on a subscription basis to organizations looking to use the model for their own purposes, according to Investopedia's query to ChatGPT itself.
The Wall Street Journal reported in September 2023 that OpenAI was in talks to sell shares at a price that would value the company at between $80 billion and $90 billion. That, the Journal said, would be "roughly triple" its value earlier in the year.
ChatGPT may be the leader in its field, but it is not without competitors, some with vast resources behind them, including Amazon, Google, and Meta.
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