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How ChatGPT Transformed the Tech Industry in Just a Single Year

For OpenAI, it’s been an interesting year. Just in the past few weeks, the business has escaped a coup attempt that resulted in the firing of co-founder and CEO Sam Altman, who was later rehired after resistance from staff members and well-known investors like Microsoft (MSFT). Even so, it’s not the most captivating aspect of the narrative.

Tomorrow marks exactly one year since OpenAI’s generative AI-powered ChatGPT debuted on the internet. It quickly rose to prominence as one of the fastest-growing apps ever and ignited an AI gold rush that is still reverberating throughout the tech sector and beyond.

Businesses are rushing to develop their own generative AI-powered software platforms, including Amazon (AMZN), Meta (META), Microsoft (MSFT), Google (GOOG, GOOGL), and others. Microsoft is also an investor in OpenAI.

Regarding hardware, the AI explosion has once again made Nvidia, the world’s top developer of AI chips, the hottest semiconductor company on the planet. Nvidia’s stock has increased by more than 200% so far this year. In the meantime, AMD (AMD) and Intel (INTC) are up 90% and 67%, respectively.

Despite ChatGPT’s recent year of release, Rishi Bommasani, the society lead at Stanford’s Centre for Research on Foundation Models, told resources, “we all understand ChatGPT was a critical inflection point in the history of AI.”

However, concerns concerning data usage rights and the potential to produce and disseminate false information through images and videos have been brought up by ChatGPT and generative AI in general.

Daniela Rus, director of MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), said, “While [generative AI] tools are empowering us in so many ways, with so many kinds of superpowers, it’s interesting to consider that the same tools can also apply to what supervillains want to do.”

Thus, in order to make sure that the tools are used responsibly, we must consider what safeguards we should put in place before deploying them.

On November 30, 2022, ChatGPT made its online debut. However, the world was not quite ready for what came next. Two months later, in January 2023, the app boasted an astounding 100 million monthly active users. Microsoft unveiled its Bing chatbot and Edge browser with integrated generative AI features, powered by OpenAI, a month later.

Since then, people all over the world have used ChatGPT to test out the technology that everyone from academics to tech CEOs has been raving about.

According to Gene Munster, managing partner at Deepwater Asset Management, “this is the first time a non-techie person has been able to interact with AI,” sources reported.

Darrell West, a senior fellow at the Brookings Institution’s Centre for Technology Innovation, claims that ChatGPT has effectively made a potent AI technology more accessible to the general public.

“It’s easy to use and doesn’t require an advanced degree to take advantage of because it’s prompt-driven and template-driven,” West said.

Numerous industries’ worth of businesses have also made the switch. Microsoft, Google, Meta, Amazon, Salesforce, and Walmart are among the companies that have launched novel products and services driven by generative AI.

While Amazon looks for ways to incorporate the technology into its various services, Microsoft, Google, and Salesforce (CRM) are integrating it into their enterprise apps. Walmart is implementing generative AI to enhance consumers’ website searches, while Meta is developing open-source AI models.

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