OpenAI made a significant announcement on Monday, revealing the launch of ChatGPT Enterprise, the business tier of its AI chatbot. This new tool, which has been in development for less than a year, received valuable input from over 20 companies across different industries and sizes. ChatGPT Enterprise offers unlimited access to GPT-4, boasting improved performance that is up to twice as fast as previous versions, as well as API credits. Pricing for the enterprise version will be determined on a case-by-case basis, considering each company’s specific use cases and size.
During the beta testing phase, companies such as Block, Canva, and The Estée Lauder Cos participated. OpenAI’s expanded investment of $10 billion from Microsoft earlier this year marked the most significant AI investment of the year, according to PitchBook. Moreover, the startup raised $300 million in a share sale in April, with a valuation estimated between $27 billion and $29 billion, attracting investments from notable firms like Sequoia Capital and Andreessen Horowitz. Since its launch in November, ChatGPT has gained over 100 million active monthly users, setting a record as the fastest-growing consumer application ever. This unprecedented success has generated considerable interest, according to Brian Burke, a research vice president at Gartner.
OpenAI reported that over 80% of Fortune 500 companies actively use ChatGPT. Notably, ChatGPT Enterprise offers a unique feature that allows clients to personalize and train the chatbot using their own company data, tailoring it to their specific industry and use cases. Although some of these customization features are not yet available in the initial release, the company plans to introduce ChatGPT Business, designed for smaller teams, in the future.
Brad Lightcap, OpenAI’s COO, revealed that the decision to prioritize the enterprise version over the business tier was aimed at gaining valuable insights into the deployment process before opening it up completely. OpenAI emphasized that it does not use clients’ business data or conversations to train its models. However, it does collect and encrypt aggregate data on tool usage and performance metrics. As the AI chatbot landscape becomes increasingly competitive, with players like Microsoft, Google, and Anthropic joining the fray, OpenAI is working to continuously enhance ChatGPT’s capabilities and features.
Operating large language models like ChatGPT is costly, with each chat session potentially costing OpenAI single-digit cents. Therefore, serving 100 million users per month could result in substantial expenses for the company. One of the main challenges in developing ChatGPT Enterprise was determining the prioritization of features based on user feedback and demands. For instance, the Advanced Data Analysis feature, initially known as Code Interpreter, was expected to be released later, but due to the strong demand from companies, OpenAI moved it up the priority list.
OpenAI’s goal is to onboard as many enterprises as possible in the coming weeks, as mentioned in their blog post. With this new development, ChatGPT Enterprise is set to revolutionize the way businesses leverage AI chatbots to enhance their operations and engagement with customers.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
