OpenAI Announces New ChatGPT Version for Businesses

OpenAI has unveiled its newest offering since the debut of ChatGPT— an enterprise version of its celebrated AI chatbot called ChatGPT Enterprise.

OpenAI’s COO Brad Lightcap revealed that the enterprise version boasts capabilities up to twice as fast as its predecessors, unlimited access to GPT-4, and API credits, with pricing varying depending on the company’s size and specific use cases. Companies like Block, Canva, and Estée Lauder were among its beta users.

Distinct from the consumer version, ChatGPT Enterprise permits clients to input their company data to tailor the AI for specific industries and needs. Some of these customization features, however, won’t be immediately available upon launch. OpenAI has also teased the introduction of ChatGPT Business for smaller teams, without providing a specific release date.

Lightcap explained that the initial release of the enterprise version allows OpenAI to closely collaborate with teams, ensuring effective deployment. Addressing privacy concerns, OpenAI emphasized that it doesn’t train on users’ business conversations or data, which remains encrypted. Still, aggregate data on tool usage, including performance metrics, will be logged.

Microsoft’s recent increased investment in OpenAI, amounting to an additional $10 billion, became the most significant AI investment this year. OpenAI’s valuation hovered between $27 – $29 billion following a $300 million share sale earlier this year, attracting investors like Sequoia Capital and Andreessen Horowitz. Notably, within two months of ChatGPT’s launch, it amassed over 100 million monthly users, marking a historic rate of adoption. Additionally, more than 80% of Fortune 500 companies have already integrated ChatGPT into their operations, according to CNBC.

Running large models like ChatGPT isn’t cheap. OpenAI CEO Sam Altman indicated that catering to 100 million users monthly could run into the millions in operating costs.

Information for this briefing was found via OpenAI and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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