OpenAI likely to go bankrupt by the end of 2024: Report
OpenAI's ChatGPT has become the fastest-growing app in history after its launch in November 2022. Since its launch, it has created both excitement and alarm to replace human in jobs. Now a report by Analytics India Magazine has stated that the company might go bankrupt by the end of 2024.
As per the report, when OpenAI applied for a trademark on GPT, it was seen as the downfall for the company and was also predicted that many users would eventually stop utilising the technology. The report also stated that ChatGPT website witnessed a user decline in the month of June and July compared to May. On 3 August, SimilarWeb stated that the AI bot traffic dipped for the second month in a row.
A 9.6 percent drop was seen in the month of July while June recorded 9.7 percent decline. Speaking of users, July saw a 12 percent decline with 1.5 billion users as compared to June's 1.7 billion users. According to a user on X, the report said that a major reason for this decline could be API cannibalisation wherein most companies have been prohibiting their employees from using AI bot for work.
However, they are free to use the API to integrate the large language model (LLM) into other workflows. Another reason as stated Analytics India Magazine could be the Mark Zuckerberg’s Meta which recently unveiled its Llama 2 chatbot. Microsoft has been appointed as Meta’s preferred partner on Llama 2, which will be available through the Windows operating system.
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