OpenAI’s chatGPT is the latest language model to take the business world by storm — Instacart Inc., Shopify Inc. SHOP and Snap Inc. SNAP are already integrating the technology into their products.
What Happened: OpenAI — the company which launched chatGPT for public testing in November last year — is now offering paid access to businesses that want to use the chatbot’s ability to elevate the performance of their apps and products.
Users can integrate chatGPT’s application programming interface into their apps.
“The ChatGPT model family we are releasing today, gpt-3.5-turbo, is the same model used in the ChatGPT product. It is priced at $0.002 per 1k tokens, which is 10x cheaper than our existing GPT-3.5 models,” OpenAI said in a blog post on Wednesday.
Instacart, Shopify, Snap, Quizlet and Speak are some companies that are early users of the chatGPT API.
Why It’s Important: OpenAI is leading the charge of one of the hottest topics of 2023 — AI. In February, chatGPT signed up its 100 millionth user — a milestone it reached in just 64 days. The technology has ignited an AI battle among big tech companies.
However, despite its successful AI models, the company is facing the challenge of boosting revenue growth and covering the hefty-cloud computing expenses that come with them, according to Bloomberg.
In January, OpenAI negotiated the expansion of Microsoft Corporation’s MSFT investment in the company, which added approximately $10 billion.
Check out more of Benzinga’s Consumer Tech coverage by following this link.
Read Next: Want To Work On ChatGPT With OpenAI Co-Founder Sam Altman? ‘Send Evidence Of Exceptional Ability’
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
