Business

Kevin O’Leary says he’ll likely invest in OpenAI, maker of ChatGPT, and liken its disruptive power to Amazon’s


Kevin O’Leary remembers what it’s like to be a disruptive force Amazon was in the early 2000s. Luckily for him, he was an early investor in the company. Now, he sees a similar disruption happening in the search business thanks to OpenAI’s artificial intelligence and ChatGPT.

“ChatGPT is definitely a threat to Googleand Google has to know that,” Shark Tank star tell Insiders in an interview published this week. About half of his own search queries are now done via ChatGPT, he added. “The loser is Google,” he said, adding, “the AI ​​search war is on.”

O’Leary said he’s currently considering the opportunity to be an early investor in OpenAI, adding that he’s “lucky to be offered a part of it.” He considers the valuation of the losing venture to be “very, very extreme”—it is said to be close to the 30 billion USD mark—indicates how new the technology is, but he said a deal is likely to close in the near future.

If he did invest, he told Insider, it would be a modest bet: “It’s either going to work out well or not, but I’m not going to take down the ship or sell the farm for it. I know there will be a lot of competition and a lot of disruption, but I definitely always want a part of the frontrunners.”

Advantages of OpenAI

He favors the frontrunners, he added, because they have a marketing edge.

OpenAI itself was stunned at the level of attention ChatGPT had generated.

“We did not anticipate this level of excitement in bringing our children into the world,” said OpenAI CTO Mira Murati said this month in one Time interview. “In fact, we even had some anxiety about getting it out there.”

But as angel investor Elad Gil noted last month, the rapid uptake of ChatGPT even though it was shut down for most of the time was a good indication of product-market fit. The former Googler added that when an idea works, it tends to work very quickly, something he’s seen many times with companies he’s worked with and invested in for years. (Gil was an early investor in AirbnbInstagram and Square.)

Of course, the current OpenAI face heavy losses, not to mention the huge computational overhead from all ChatGPT users that it didn’t expect. Microsoft’s big investments will help with that. And this week, the tech giant revealed an update to its Bing search engine combine ChatGPT technology.

Earlier this month, OpenAI Launching ChatGPT Plus$20 monthly subscription offers faster response times and better access to the chatbot when it’s down due to traffic.

After noticing the ChatGPT threat to Google, O’Leary told Insider: “The market doesn’t really penalize Google stock for this. But a few quarters from now, if ChatGPT really starts bringing in significant subscription fees, then we’ll see what happens.”

Learn how to navigate and strengthen trust in your business with The Trust Factor, a weekly newsletter that examines what leaders need to succeed. Sign up here.



Source by [author_name]

news7h

News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button