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Is artificial intelligence merely a business accelerator, bringing smart features and boosting revenue for tech companies? Or is it a disruptive platform capable of reshaping the tech industry’s power dynamics?
This question has gained prominence in light of ChatGPT’s emergence. Generative AI, the type that can compose essays or create images on command, holds the potential to add value to various software products. Imagine how much more useful an application could be if it could anticipate your needs and offer creative suggestions.
However, this technology also has the capacity to become a platform in its own right, revolutionizing computer interaction. Many applications already leverage OpenAI’s large language models to incorporate AI features. Typically, tech platforms like this tend to be highly concentrated, such as Windows or MacOS for laptops, iPhone or Android for smartphones, and Chrome or Safari for browsers. How many of the so-called AI “foundation models” can the market support?
Presently, investors primarily view AI as an accelerator. During recent earnings calls at Microsoft, Alphabet, and Meta, questions focused on when generative AI enhancements would translate into higher revenue and the costs associated with building and running AI-powered services.
Microsoft’s recent decision to introduce a $30 monthly premium for AI features in its productivity apps marked a confident assertion of the forthcoming generative AI wave.
If large language models become a core technology on which future tech products and services rely, control over cutting-edge LLMs (large language models) will likely become a prerequisite for entering the industry’s major leagues. Microsoft and Google are currently ahead in developing this technology through their close ties to OpenAI. Can others match their progress, and what does it mean if they can’t?
While Apple, Amazon, and Meta have regarded machine learning as an important ingredient in their products, they are now hastening to give AI a central role in their operations. Amazon Web Services, in particular, is striving to catch up with Microsoft in running generative AI services.
The vast user base of Meta, with 3.9 billion monthly app users, presents a massive audience potential. CEO Mark Zuckerberg hinted at forthcoming AI-powered assistants, agents, and avatars that would enhance users’ content production and engagement with chatbots.
To support their ambitions, Meta has developed the Llama family of open-source language models. Amazon is developing its own models called Titan, and Apple has reportedly joined the race as well.
Zuckerberg and AWS boss Adam Selipsky both emphasize that there won’t be a single AI model dominating the field. Different creators and users will prefer different tools for different purposes. However, the outcome remains uncertain, as initial assumptions about multiple competing search engines were proven wrong when a general-purpose search service ended up dominating the market.
Only time will tell how the generative AI boom will impact tech companies’ earnings reports and the industry as a whole.
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