The monetization of the AI revolution hasn’t been mapped out yet, although it’s reasonable to assume companies will use this technology to increase their earnings. However, considering its novelty and complexity, early adopters of AI may end up downplaying its capabilities.
The owners of the foundational AI models – Microsoft and OpenAI, for example – will likely reap the rewards soon since they can charge others for using their models in research and new application implementation.
Advertising and fees or subscriptions are two well-established business models. If experiments using generative AI technology, designed to meet specific consumer needs and address commercial matters, prove successful, we may see the development of more companies built on these foundations.
- The stories around projects like ChatGPT and Bing AI may soon go from the astonishing scene of science fiction marvels to the overly familiar world of B2B pricing. However, until then, people are still spellbound by amazing developments made with these tools.
At unveiling its new Bing search engine incorporating generative AI, Microsoft also shocked the industry with hikes in API pricing for external developers. It is believed that OpenAI’s fees will experience increases as well.
- Microsoft and OpenAI have agreed that Microsoft will be granted entitlements to utilize, peddle and integrate the technologies provided by OpenAI into their Azure cloud environment.
Today, AI services that are generative and highly advanced require considerable computational power, which comes with an associated cost.
- That means any AI boom will inevitably create huge windfalls for the big cloud providers — Amazon, Microsoft, and Google.
- It also means that the days of ChatGPT as a free romp for casual dabblers are probably numbered as OpenAI starts trying to underwrite its expenses.
A partnership between OpenAI and consulting giant Bain announced last week is one sign of the monetization drive kicking in.
- The “next generation contact centers” are on the agenda for early deployment experiments to benefit companies with customer service, creative development for marketing initiatives, and boosted productivity amongst financial advisors regarding communication with clients.
- As confirmed by Bain, Coca-Cola is the first company to partner with the Bain/OpenAI collaboration.
AI enhancements of software-as-a-service platforms increasingly provide businesses with an expeditious alternative to onboarding new customers and bringing in payment.
- Last week, a Notion AI tool charged $10 per user per month was made available by the popular collaboration and information organizing service, Notion.
- Notion’s AI helper performs three tasks that can help with productivity: auto-completing, summarizing, and brainstorming.
Skeptical views that see AI as “just a feature” and destined to become just integrated into existing tools have been bolstered by introducing services, such as Notion, into the market.
Chatbots, powered by AI and already in comprehensive testing with their search arena, offer businesses amazing potential opportunities yet come with potential perils.
- Thanks to Bing’s AI move, Microsoft has boosted its lagging service, emerging into the limelight.
- Search engines today are profitable largely due to the ads they generate. However, adopting a chat model undermines this success for Google in particular.
- Integrating ads with AI chat may be difficult or not pleasing as Alexa and other voice systems have yet to find a successful method to incorporate advertising with useful data.
- Bing or You.com, a startup with a frontrunner in AI-chat look, is more likely to decipher this new business than heavyweights like Google, being inexperienced and not as established as the latter.
Smartness, AI, Tech Explosion Being smart is essential, and with the rise of AI technology exploding, it is clear that other developments have previously walked this path.
Internet service providers were among the very first to enjoy the financial rewards of the web, which began to flourish thirty years ago.
ChatGPT and Bing’s chatbot weren’t meant to be the final product; they served as demos to entice other companies to utilize their tools. Alex Kantrowitz of Big Technology notes this purpose.
The AI providers, taking advantage of the current AI boom, can begin charging and outsourcing greater risks to startups and those willing to take risks by experimenting with new technology. They may unlock impressive efficiencies or end up jeopardized in the process.
Source: Axios
