Guest Column: Senior digital media professional and founder of tech startup Fanory explains what makes OpenAI’s GPT-3 so lucrative
It's 2023 and the artificial intelligence market is scaling new heights with fiercely innovative competitors aiming to conquer the peak.
OpenAI’s GPT-3 has taken the world by storm and caught the attention of traditional technology giants Google, Microsoft, Meta and Amazon who are also vying for a piece of the AI pie with its precise, almost human-like responsive abilities.
Let’s dive a bit deeper into this emerging market to understand what makes it so lucrative:
- There is going to be an explosion in the production and usage of AI-powered devices in the next few years. This will generate a vast amount of data that needs to be processed and analysed.
- The potential applicationsAI are increasing at an exponential rate as the technology and its refinement evolves each day
- The cost of AI is dropping rapidly as the market matures and moves towards a better understanding of scaling up the adoption. This makes it more accessible to small and medium-sized businesses who can use it to enhance their operations.
- The talent pool for AI is growing immensely with increased investment in resource upskilling by both corporate as well as academic institutions.
- Most new initiatives stepping forth in the market are powered by artificial intelligence or affiliated technology. This gives rise to the need for action from the established players in the market.
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Published by: Book Club