OpenAI Proposes Services to Fortune 500 Amid Data Privacy Concerns and Competition
Summary:
OpenAI, famous for its AI tool ChatGPT, is promoting its services to Fortune 500 companies, aiming to boost sales of its enterprise version. Despite data privacy worries and competition with its primary funder Microsoft, OpenAI CEO Sam Altman and COO Brad Lightcap are pushing their products, including the corporate chatbot service, ChatGPT Enterprise. Direct collaboration with OpenAI reportedly offers state-of-the-art models and custom AI solutions. OpenAI, valued at $68 billion, aims to reach its $1 billion revenue target in 2024 and saw a surge in interest with 600,000 sign-ups up from 150,000. Talks with Hollywood movie studios over its Sora video creation tool have also been reported.
OpenAI, renowned for its widely used AI tool ChatGPT, is now actively promoting its products to Fortune 500 companies, according to an insider. A Reuters report dated April 12 revealed that Sam Altman, OpenAI's CEO, and COO Brad Lightcap, had meetings with senior executives from prominent firms in San Francisco, New York, and London. They demonstrated OpenAI's commercial offerings, such as the specialized corporate chatbot service, ChatGPT Enterprise, and software that merges user applications with OpenAI's AI amenities through APIs. They highlighted that over 92% of Fortune 500 companies are already using their chatbot's consumer version.
The OpenAI representatives stressed that data from the ChatGPT Enterprise would not be employed for training their models, highlighting its commitment to privacy and safety, especially following several lawsuits implicating OpenAI in alleged data breaches. This OpensAI's move challenges its main funder, Microsoft, known for offering some OpenAI services on its own platforms.
Despite some executives expressing doubt about the added cost of ChatGPT Enterprise on top of the existing Microsoft services, Altman and Lightcap alleviated these concerns by pointing out the benefits of working directly with OpenAI's crew. This, they said, includes access to state-of-the-art models and custom-built AI solutions for enterprises.
Valued at $68 billion as of March 2024, OpenAI is on the path to reach its $1 billion revenue target for 2024. It aims to boost sales of its enterprise version as a significant revenue source. During these meetings, Lightcap reportedly discussed the increased interest in their business model, with over 600,000 sign-ups for ChatGPT Enterprise and Team, a significant rise from just 150,000 in January, showing the increasing corporate demand for AI solutions.
There have also been reports of OpenAI discussing with Hollywood's movie studios, presenting its Sora video creation tool to the executives. Although many are excited about this technology, concerns remain over the gathering of training data, output dependability, and copyright protection.
Published At
4/12/2024 5:00:17 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.