ChatGPT Parent OpenAI Aims At Budget-Friendly AI Innovations To Bring Down Costs
Portfolio Pulse from Anusuya Lahiri
OpenAI, the parent company of ChatGPT, is planning to introduce significant enhancements for developers to reduce the cost and increase the speed of creating software applications. The updates include introducing memory storage to developer tools and vision capabilities. These innovations could potentially cut expenses by up to 20 times. OpenAI, backed by Microsoft Corp, is transitioning from being a consumer hit to establishing a prominent developer platform. The company aims to generate over $1 billion in revenue over the next 12 months from selling artificial intelligence software and computing capacity.
October 12, 2023 | 11:44 am
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Microsoft Corp, which backs OpenAI, could potentially benefit from the planned enhancements by OpenAI. The cost reduction and speed increase in creating software applications could attract more businesses to integrate OpenAI's AI technology, potentially increasing Microsoft's revenues.
Microsoft backs OpenAI, and the planned enhancements by OpenAI could potentially attract more businesses to integrate its AI technology. This could lead to an increase in the use of Microsoft's cloud services, as OpenAI's models are likely hosted on Microsoft's Azure platform. Therefore, this could potentially increase Microsoft's revenues.
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