Key takeaways
- ChatGPT, a new artificial intelligence (AI) product released by OpenAI, is being described as a “game changer.” The tool can create content, write poetry and provide complex responses to simple user prompts.
- Many experts believe this tool could be a "Google killer," while Alphabet has revealed that they won't release a competitive product.
- OpenAI has now released an AI-powered art design tool and a chatbot in just a few months, as the innovations in this space drastically improve, and fast.
ChatGPT, the new artificial intelligence (AI) tool, has gone viral since OpenAI released it to the public last month. It’s a revolutionary technology that will have many implications in the future.
We’ve already seen the power of artificial intelligence when it comes to AI-created art and simple things like predictive text on social media. ChatGPT can respond to any prompt as a human being would with detailed responses and follow-up.
Many experts consider this a breakthrough product for the AI space. Some even believe this product could change Google’s business model and algorithm. We’ll look at ChatGPT and ways you can invest in artificial intelligence.
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What’s ChatGPT all about?
ChatGPT is the newest product from OpenAI, a company started by Elon Musk and Sam Altman. The program is based on OpenAI’s GPT-3.5 language mode, an upgraded version of the model that was released in 2020.
Users can input a question, request or prompt into the app. Then, the ChatGPT will respond as a human would.
People have been using this service to write poetry, create opening messages for dating apps, and more. You can also use the ChatGPT for fun purposes and functional reasons, like asking follow-up questions and even giving complex directions for the app to follow.
OpenAI has received $1 billion in funding from companies like Microsoft. It has repeatedly stated that it's focusing on creating AI safely for humanity.
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A recent investor presentation revealed they expected to bring in $200 million in revenue in 2023 and $1 billion annually by 2024. OpenAI was recently valued at $20 billion. They currently generate revenue by charging developers licensing fees for the technology.
We recently looked at how OpenAI released DALL-E 2, a tool that allows you to turn any prompt into AI-generated art. These two tools alone are enough to change the landscape of multiple industries since you can now create content and art with just a few prompts.
According to the website, the product's setbacks are that it could occasionally generate incorrect information and sometimes produce biased content.
OpenAI CEO Sam Altman already discussed these limitations when he tweeted out the following on December 10:
"ChatGPT is incredibly limited, but good enough at some things to create a misleading impression of greatness. It's a mistake to be relying on it for anything important right now. It's a preview of progress; we have lots of work to do on robustness and truthfulness."
What’s the impact of ChatGPT?
As the technology was just released a few weeks ago, it’s difficult to estimate the total impact. However, there are clear implications that are, well, undeniable:
- The way people search online will be altered. There are concerns that this new technology could hurt Google and lead to people changing how they search for content online.
- It will be easier than ever to generate content. We’re not too far from reading articles generated through AI software like this.
This new tool will be a game-changer that will impact many industries. We will continue to monitor the impact of the OpenAI tools.
Can you invest in ChatGPT?
If you're looking to invest in ChatGPT directly, you can't just yet since the company hasn't gone public. If you're looking to invest in AI, many publicly traded companies are utilizing the technology and investing heavily in this sector.
We have listed other AI companies you can invest in if you want to put your money toward this space below.
How can you invest in artificial intelligence?
Here are some AI stocks worth looking into if you want to invest in this industry.
Lemonade
This is the first-ever insurance company powered by AI technology, from purchasing insurance coverage to managing insurance claims. The AI powered-bot Maya handles customer service and every possible aspect of the business.
Amazon
It’s surprising how entrenched AI technology is within Amazon’s entire business. Amazon has AI to recommend customized products to users.
The company’s fulfillment centers use AI with small robots that move packages around the warehouse with real workers. Plus, Amazon has Amazon Fresh and Amazon Go stores with the Just Walk Out payment service.
Beyond that, you have Alexa in millions of households and the Amazon Web Services platform that hosts many streaming services.
Tesla
Tesla has an entire day dedicated to AI and is recruiting the best talent in this field. The company has been working on a humanoid robot that is still in its early stages.
They’re also working on offering a robot taxi service so that car owners can monetize their vehicles when they’re sleeping.
Meta Platforms Inc.
Meta uses AI in everything, including your news feed and the algorithm for ads displayed to you. It also has the Meta AI lab, where they’re working on innovations that could decode speech from brain activity in people who have suffered brain injuries.
Even though it may seem like Meta can read your mind, it would be revolutionary if they could read your brainwaves one day.
C3.ai
C3.ai offers enterprise AI, which are AI applications designed especially for your business if you’re looking to go all digital.
They help companies complete digital transformations to the cloud. The AI tools aid in everything from improving business operations to increasing employee safety.
Alphabet Inc.
We don’t have to look far to see the importance of AI for Google, but we have to state that the parent company of Google is one of the research leaders in this field. AI handles daily tasks, like filtering search suggestions and offering precise organization options for our photos.
In an interesting plot twist, Google executives recently revealed that they wouldn’t be releasing a competitor tool due to “reputational risks” that they would have to deal with that a startup wouldn't have to worry about.
Since over a billion people use Google, the company doesn’t want to publish incorrect information.
How Wide-Ranging is Artificial Intelligence?
The importance of artificial intelligence can't be overstated since it's changing how every industry operates. With the possibility of self-driving cars that combine Airbnb and Uber along with advancements in the healthcare industry, AI is changing our daily lives.
College admissions departments are using AI for handling admissions, e-commerce platforms are utilizing AI to offer customized product recommendations, and financial firms have found ways to use AI to detect fraud and avoid budgetary oversights.
AI allows computers to process decisions that traditionally would require human input. You can interact with a business without speaking to a real human since AI can solve complex problems, automate tasks, perform data analysis, minimize errors and improve customer service.
How to invest in the market with AI?
You don’t have to look any further to see the power of AI, Q.ai was created to use AI to offer investment options.
Q.ai utilizes three key methods to help investors make money. These include:
- Creating Investment Kits. This involves selecting stocks and other securities to be placed in a diversified kit. AI is leveraged to assess every possible investment each week to bundle products into kits like precious metals, tech and more.
- Weighting or rebalancing the assets in each investment kit to manage the risks occurs weekly to maximize within the securities selected in for every sector.
Offering Portfolio Protection, which is a feature that uses AI to predict and forecast possible risks in the market to adjust the allocations even further for protecting against losses.
If you truly want to make money from AI, your best bet right now is to invest in the broader market via Q.ai. The AI-powered Investment Kits make investing easy and strategic.
Download Q.ai today for access to AI-powered investment strategies. When you deposit $100, we’ll add an additional $100 to your account.
