ChatGPT is an artificial intelligence (AI) language model developed by OpenAI, which is capable of generating human-like text based on the input it is given. It was launched in November 2022 and quickly garnered attention for its detailed responses and articulate answers across many domains of knowledge. However, its uneven factual accuracy has been identified as a significant drawback. Following the release of ChatGPT, OpenAI’s valuation was estimated at US$29 billion in 2023.
ChatGPT was developed by OpenAI, a startup founded in 2015 by Twitter owner Elon Musk, Greg Brockman, Ilya Sutskever, Wojciech Zaremba, and Sam Altman. Sam Altman remains the company’s current CEO. OpenAI’s ChatGPT was released in November 2022, and has since gained attention for its impressive response capabilities.
Companies have earned a significant amount of revenue from ChatGPT since its launch in November 2022. According to a report from Sortlist Data Hub, the global market for ChatGPT was estimated to be worth $1.1 billion in 2023. The report also notes that some companies are expected to make up to $80 million in revenue this year. Additionally, Microsoft recently made a $10 billion investment in OpenAI, the company that created ChatGPT, which suggests that there is a lot of potential for companies to make money from the technology.
Though ChatGPT was developed with the stated intention of augmenting human work rather than eliminating it, there are concerns that the technology could be used to replace human workers in certain fields. In particular, some worry that ChatGPT could be used to generate content and automate certain tasks that were traditionally done by humans, such as content writing and copywriting. While OpenAI has issued statements affirming its commitment to only using ChatGPT for ethical purposes and to augment human work, the potential for automation remains a concern.
It is currently difficult to determine exactly how many people have lost their jobs because of ChatGPT, as the technology is still relatively new and only recently began to be used for certain tasks. However, a survey conducted by Sortlist Data Hub revealed that 43% of Millennials are concerned about the possibility of ChatGPT taking their jobs. This is especially concerning given the fact that 51% of employers have stated that if they do use ChatGPT, it will most likely be for marketing campaigns. As such, it is likely that a significant number of people have already been displaced by the technology, and this number is likely to increase as ChatGPT becomes more widely used.
