OpenAI yearly revenue closes in on $1 billion

OpenAI - Revenue - Dollars

The developer of the generative artificial intelligence ChatGPT bot is bringing in $80 million monthly.

OpenAI, the developer of the generative artificial intelligence (AI) ChatGPT bot is generating approximately $80 million in monthly revenue according to a recent Bloomberg News report at the end of August, citing an unnamed source familiar with the matter.

The growth of the adoption of ChatGPT has been enormous, having only debuted last fall.

Following the explosively successful launch of OpenAI’s ChatGPT, there has been a massive investment into the generative AI market. This particular company, with Microsoft’s backing, is among those that have been making the most headlines – and revenue.

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At the start of the week, the company released ChatGPT Enterprise, a new corporate version of the artificial intelligence tool that has already been released. According to the Bloomberg report, this represents the largest effort the company has made to attract a spectrum of business clients and boost revenue from its original AI software offering.

At the end of August, the company was already saying that since ChatGPT was first launched, it has been adopted by over 80 percent of the Fortune 500 companies. The new Enterprise version was developed to provide businesses a way to rapidly and safely deploy this AI tech, using it to better communication, boost coding task speed, handle complex business questions and receive creative work assistance.

OpenAI’s new offering could appeal to companies that still aren’t sure about AI adoption.

A new study released by PYMNTS/AI-ID, called Understanding the Future of Generative AI showed that about 62 percent of business execs don’t feel their companies are prepared for artificial intelligence technology such as that offered by OpenAI because they don’t have the right expertise yet. Moreover, they still have questions regarding AI regulation.

“I don’t think that we can expect any one single institution to have the kind of knowledge and capacity to address the varied problems [of AI regulation],” said Penn Program on Regulation founding director Cary Coglianese. “If there was an equivalent of a seat belt that we could require be installed with every AI tool, great. But there isn’t a one-size-fits-all action that can be applied [to regulating AI].”

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