ChatGPT became a viral sensation upon its release to the public on Nov. 30, 2022. It hit over 1 million users in under a week and has only continued to grow, with hundreds of companies using its application programming interface (API) integrations to create or improve their products.
While ChatGPT is one of the more public and obvious examples of the advancements in artificial intelligence (AI), this technology is quickly and relentlessly becoming a permanent part of your everyday life.
The term AI covers the ability to instruct a machine or program to analyze certain data and respond with output according to the input data.
Many examples — not all of them new — exist. Alphabet Inc. GOOGL relies on AI to analyze users’ searches, habits and interests to yield tailored results in Google recommendations. Similar to Google, advertising giants like Meta Platforms Inc. META use many of those same processes to provide targeted ad recommendations.
Self-driving cars and driver-assist programs function as another type of AI that has been in place for a while. This AI technology is still in its infancy, but the promise of fully self-driving vehicles draws closer every year. Completely autonomous car development has been limited mostly because of a lack of road and vehicle data. AI experts like Tesla Inc. TSLA realize the importance of collecting the data that AI machines need, so it designs vehicles to constantly collect data to improve tech that will one day facilitate autonomous vehicles.
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AI has also become essential to the marketing sector as it uses that technology to build targeted ads. RAD AI, a startup raising capital on Wefunder, designed what may be the world’s first AI marketing platform built to understand emotion. Some of the largest companies in the world depend on RAD, which boasts a 310% annual revenue growth.
Another exciting AI marketing startup, Jasper, recently raised $125 million at a $1.5 billion valuation. Like ChatGPT, Jasper uses AI to create blog posts, ads and other types of content for marketers. Jasper’s website says advertisers like Google, IBM and Airbnb use its platform, with more movers and shakers likely to be added to that list with its new pile of cash.
Consumer-side products use AI integrations to improve safety and quality of life. For example, integrating AI into trackers amplifies their value for users. MaxTracker is a startup currently raising on StartEngine that aims to improve Bluetooth trackers such as Apple Inc. AAPL’s AirTag or Life360’s Tile. Product improvements like these mean the difference between knowing whether your bike got stolen or fell over — or if your pet escaped rather than found a clever hiding place.
This trend is not going unnoticed by venture capitalists (VCs) and investors. Despite an overall decline in VC funding in 2022, VCs are pouring money into AI startups. Retail investors are also looking to get in. Retail investors have already invested over $2.5 million into RAD. MaxTracker has over 50 investors in its current raise.
As AI continues to become a more prominent part of everyday life, it’s likely this sector will explode.
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