What is ChatGPT and How Does It Make Money?

ChatGPT, the free chatbot released in November 2022 by artificial intelligence research company OpenAI, has taken the internet by 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.

It’s a revolutionary technology because it’s trained to learn what humans mean when they ask a question. Many users are awed at its ability to provide human-quality responses, inspiring the feeling that it may eventually have the power to disrupt how humans interact with computers and change how information is retrieved.

ChatGPT, a free and easy-to-use AI search tool, hit the ground running when it was launched to the public in November. A user types in a question and ChatGPT spits back out an easily understandable answer in an essay format.

With the growing era of technology, users expect a lot from businesses/companies to get the solutions to their problems, and the chatbots which were being used among industries were not helpful enough to keep up the retention ratio. This creates a lot of gaps during interaction and sometimes becomes quite annoying. The change was much needed from a business perspective and also to decrease the dissatisfaction level of their users. 

Who Created ChatGPT?

ChatGPT is Open AI’s brainchild. Open AI is an artificial intelligence research startup organization whose mission is to create an AI system that is safe and beneficial. 

The company has previously made headlines with GPT-3, which can produce text that sounds like it was written by a human, and DALL-E (a generative AI tool), which creates AI art/digital images from natural language descriptions. 

What Is ChatGPT?

ChatGPT is a large language model chatbot developed by OpenAI based on GPT-3.5. It has a remarkable ability to interact in conversational dialogue form and provide responses that can appear surprisingly human.

Large language models perform the task of predicting the next word in a series of words.

Reinforcement Learning with Human Feedback (RLHF) is an additional layer of training that uses human feedback to help ChatGPT learn the ability to follow directions and generate responses that are satisfactory to humans.

In Short

• ChatGPT is an AI-backed chatbot prototype developed by OpenAI.
• Its AI chatbot answers user queries in a conversational manner.
• It can also write poems, review codes, and solve maths problems.

How Does ChatGPT Make Money?

OpenAI, the company that created ChatGPT, has not yet monetized ChatGPT on a wide scale. As of January 11, 2023, ChatGPT was free to use through the OpenAI website. However, the company does sell the 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.

In mid-January 2023, OpenAI announced it planned to launch a paid version of ChatGPT called ChatGPT Professional. The paid iteration of the model will reportedly include benefits such as no blackout windows, an unlimited number of messages with the bot, and similar perks.

Within a week of its launch, the model had gained one million users. And two months after ChatGPT was released, OpenAI raised the possibility of selling existing shares in a tender offer that would place the value of the company at about $29 billion, making it among the most valuable startups.

Is ChatGPT a Reliable Technology?

The initial version had some drawbacks which have been identified and rectified (based on human feedback), and version 2 came into play but is still considered less accurate. Not only this, in fact when a user will start this application, a disclaimer warning will pop up on their screen which will warn the users that ChatGPT is not 100% accurate and can also provide answers that might discomfort the users.