In an effort to generate revenue from the widespread use of ChatGPT, OpenAI has introduced a premium tier dubbed ChatGPT Plus. Even after only one month of availability, the site has gathered 57 million monthly active users, showing a dramatic increase in popularity. As one of the most rapidly expanding applications ever, it saw an average of 13 million daily unique visits in January. The new plan costs US$20 monthly and provides customers with exclusive content and services.
Why OpenAI is monetising ChatGPT?
In order for OpenAI to reach its revenue goal of US$1 billion by 2024, the platform must immediately begin earning income. Experts say OpenAI is hoping to boost the likelihood of a consistent user base and research serious individuals for product development potential by monetizing the platform during its height of interest. The company is trying to find a way to make money to pay for infrastructure costs and become less reliant on investors and partners like Microsoft.
What experts have to say?
ChatGPT witnessed rapid expansion over the past several months. So, monetisation is the next logical step for such a successful platform. Subscription revenue, they reason, will fund development that will make it even more user-friendly and applicable in fields like digital marketing and content production. They do caution that ChatGPT’s current market dominance is not secure, and that the company will need to maintain a high rate of innovation and market share growth in order to remain competitive.
Strategically, OpenAI’s decision to charge for access to it via the ChatGPT Plus membership plan is a strong vote of confidence in the future success of the platform. As of January 2023, ChatGPT had 100 million members, which is a good sign for growth. However, keeping that number of users and market share will require constant innovation and improvement.
More on ChatGPT
What benefits do ChatGPT Plus subscribers receive?
ChatGPT Plus users have exclusive access to new features and benefits, like being able to use ChatGPT in general, getting answers faster, and getting new features and improvements first.
Why did OpenAI decide to monetise ChatGPT?
OpenAI decided to monetize ChatGPT to meet its projected revenue of US$1 billion by 2024, build a revenue stream to defray infrastructure costs, and diversify its reliance on investors and partners.
What do experts have to say about the monetisation of ChatGPT?
ChatGPT has witnessed rapid expansion over the past several months, and monetisation is considered as the next logical step for such a successful platform. Also, they anticipate that the revenue generated by the subscriptions will fund additional development, making it even more user-friendly and applicable to a wide range of businesses. They do caution that it’s current market dominance is not secure, and that the company will need to maintain a high rate of innovation and market share growth in order to remain competitive.
Also read: Zendesk Benchmark Snapshot Shows Widespread Global Service Impacts
What ChatGPT means?
OpenAI’s massive ChatGPT language model can simulate human speech and writing from scratch.
How to use ChatGPT for work?
Customer support, marketing, and data analysis are just a few examples of sectors where it might be put to use to automate answers and generate text based on patterns learned from massive amounts of data.
Is ChatGPT an app?
No, it is not an app but rather a model that may be embedded into other programmes using application programming interfaces or other techniques.
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