believe it or not, the company that created Chat GPT may go bankrupt at a time when mind blowing a I tools are the hot topic. This a I company may be burning cash quite literally, as per a latest study. Open A I The A I studio by Sam Altman might be on the brink of a potential financial crisis. Analytics India magazine's report says. Open A. I may go bankrupt as early as the end of 2024. Interesting to note here that it costs open a I about rupees 5.8 per every day to run just one of the A I services, which is Chat GPT. And despite attempts to monetize Chat GPT, the company is not being able to generate enough revenue to break even at this point. Remember Chat GPT became the fastest growing app in history after its launch in November 2 1022. However, after the initial influx of users, the company is seeing a gradual decline in users over recent months. In fact, by July and the user base of Chat, GPT dropped even further. July 2023 witnessed a 12% reduction in the user base compared to June, sliding to 1.5 billion users versus 1.7 billion users just a month earlier. Now, as per this time, API cannibalization is part of the problem. What's that? If you're wondering well as per tech experts. That means most of the companies which were earlier prohibiting their employees from using Chat GPT for work are now allowing them to use the API to leverage the large language model lm In other words, in different workflows. Microsoft's $10 billion investment is perhaps the only reason open A I is a float at the moment. The company expects to hit $1 billion annual revenue in 2024 which at the moment seems to be a long shot since losses are only mounting. ND TV spoke to a I and tech experts as well, who admit the financial situation remains grim but also remain optimistic on the future of a I altogether Sakshi bad for ND TV
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