ChatGPT, and An AI-powered text tool that can spout cogent answers to almost any query in seconds, it’s gaining new users faster than the most popular consumer apps created to date.
The chatbot only launched for general use in December, but has already amassed 57 million monthly active users in its first month of availability. It is expected to pass 100 million monthly active users in January, according to new research from investment bank UBS.
In comparison, it took social media app TikTok nearly nine months after its launch to build the same user base, and nearly two and a half years for Instagram to gain 100 million monthly active users. Google Translate took six and a half years to reach this milestone.
“This is the fastest consumer app I’ve seen reach 100 million monthly active users in my career covering this space,” UBS equity analyst Lloyd Walmsley told CBS MoneyWatch. “The slope was extraordinary.”
“little scary”
In fact, students and professionals of all walks of life are eagerly testing the capabilities of ChatGPT. He can write articles and create a bunch of documents, even corporate leaders Report using the strategic brainstorming tool.
At the same time, the growing popularity of advanced technology raises concerns about Types of workers you can replace As more people use so-called generative AI to write computer code, abstract text, and perform other tasks that humans do today.
“There is a slightly scary element to it in terms of the capabilities of this and what the implications might be for less skilled, knowledgeable workers,” Walmsley said.
Walmsley himself said he already relies on the tool to help conduct AI-related research.
Currently, ChatGPT averages 13 million visitors per day, according to UBS. But its growth may wane over the next few months if the hype subsides.
“The next question is obviously what its staying power will be,” Walmsley said. “There may be an element of people just coming in to look.”
$1 trillion market
The expected deployment of similarly advanced tools from wealthy competitors like Google could also detract from ChatGPT’s explosive popularity. But because Google has such a large company to protect, it risks damage to its reputation if its AI chatbot generates inaccurate, or worse, offensive content.
“The question is, how much do they reveal to the public and how quickly do they do it?” Walmsley said.
ChatGPT is free to use – for now. The company behind the tool, OpenAI, is testing a $20 monthly subscription for access to a pro version of the app called “ChatGPT Plus,” which offers users faster responses and priority access to the site when it’s loaded with visitors. The company said OpenAI also plans to continue offering a free version to the public.
UBS analysts estimate the generative AI market to be worth $1 trillion.
“There are over a billion knowledge workers out there, so given the potential for this to be of benefit beyond knowledge workers, it’s not crazy to think it could actually be that big,” Walmsley said.
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