Welcome to the channel, your one-stop destination for everything AI. We have breaking news from the world of AI. OpenAI has made its biggest announcement since the debut of ChatGPT. Buckle up because today we’ll delve deep into OpenAI’s new venture, ChatGPT Enterprise.
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OpenAI has unveiled the AI chatbot’s business tier called ChatGPT Enterprise. This is not just another iteration, this is a game changer. Developed in less than a year, ChatGPT Enterprise has some serious backing. More than 20 influential companies collaborated on this project.
For starters, you get unrestricted access to GPT 4. Yes, you heard that right, no usage caps. And guess what? It performs up to two times faster than its predecessors. Plus, they’re throwing in API credits.
Interestingly, while we’re all eager to know about the pricing, OpenAI is keeping it under wraps for now. According to OpenAI Co-Founder Brad Lightcap, the pricing will vary based on individual company use cases and size.
Earlier this year, Microsoft poured an additional 10 billion dollars into OpenAI, making it the most significant AI investment of the year. And if that wasn’t enough, the startup’s valuation surged between 27 billion dollars to 29 billion dollars after closing a staggering 300 million dollar share sale.
Two months post-ChatGPT’s launch, it recorded an astounding 100 million monthly active users, making it the fastest-growing consumer application in history. The growth is phenomenal.
Over 80 percent of Fortune 500 companies have teams actively engaged with ChatGPT. PT. That’s massive. However, there’s a clear distinction between ChatGPT Enterprise and its consumer version.
With the Enterprise tier, clients can input company-specific data to customize and train ChatGPT for niche industrial applications. And while some of these features aren’t yet available, they’re on the horizon.
There’s also chatter about another version termed ChatGPT Business aimed at smaller teams. The timeline remains unspecified, but it’s a testament to OpenAI’s commitment to cater to various business sizes.
One may wonder why launch the Enterprise version first. It offers OpenAI a hands-on approach to understand deployment dynamics before a full-fledged release.
Are you concerned about your data? In a recent blog post, OpenAI emphasized that they do not train on your business data or conversations, and their models don’t learn from your usage. They also ensure encryption of conversation data during transit and storage.
The AI landscape is red hot right now. While OpenAI and Microsoft dominate, Google and Anthropic are not far behind. Each of them is constantly innovating, releasing new apps, and updating features.
Just this year, OpenAI rolled out its iOS and Android apps, while Google and Microsoft kept enhancing their respective chatbots. Anthropic, founded by ex-OpenAI executives, recently launched Claude 2.
You might be curious about the economics of running such massive AI systems. ChatGPT isn’t cheap to operate. OpenAI CEO Sam Altman once mentioned that each chat might cost the company single-digit cents. With 100 million users a month, the figures shoot up into millions.
Every innovation comes with challenges. For ChatGPT Enterprise, it was prioritizing features. COO Lightcap gave a glimpse into the discussions, explaining how deciding feature priorities was a topic of heated debates among the team.
OpenAI’s objective is to onboard as many enterprises as possible in the coming weeks. It’s clear OpenAI is not just shaping the AI narrative, they’re steering it. They have also pledged not to train their AI models on any of your business data or conversations.
Now let’s talk security. Under the new plan, all business chats are encrypted both during transmission and when they’re stored. And for those of you wondering about compliance, they’ve got you covered with SOC2 certification.
Several big names have already taken the new ChatGPT Enterprise for a spin, including companies like Block, Canva, Carlisle, PwC, and Sapier. If these giants trust it, it’s certainly something to look into.
So what makes ChatGPT Enterprise so special? First, it provides double the speed and access to GPT 4, which, if you recall, is the same model backing ChatGPT Pro. But unlike the Pro version, Enterprise has no usage caps, and it comes with a massive 32,000 token context, allowing the AI to process up to four times the input-output text compared to the Pro tier.
For teams, the perks are even more substantial. There’s unlimited access to what’s now termed Advanced Data Analysis, previously known as Code Interpreter. This is a game changer for teams who need to sift through and analyze heaps of data rapidly. And businesses pay attention, you’re getting an admin console for bulk management of employee usage. This means you can make shared chat templates for teams, plus you get free credits for OpenAI’s API.
Now, if you’re part of a smaller business and feeling a bit left out, don’t fret. OpenAI COO Lightcap shared that they’re planning a version for smaller businesses in the near future. OpenAI’s strategy here is to first engage with large corporations to understand the deployment requirements better before expanding the offering again.
The burning question: pricing. While OpenAI hasn’t publicly disclosed the pricing model for ChatGPT Enterprise, businesses can directly get in touch with OpenAI for tailor-made plans. And as COO Lightcap mentioned, pricing will be based on each company’s unique use cases and size.
A standout feature of ChatGPT Enterprise is its Advanced Data Analysis. Imagine being able to prompt it with something like, ‘Tell me what’s interesting about this data,’ and having the AI sift through the data to provide actionable insights. And guess what? This isn’t restricted to just numerical data. It can delve into financials, health records, location data, and more.
Now, for the users of ChatGPT Plus, which is the $20 per month premium version, no need to worry. It’s not going anywhere. In fact, OpenAI views the new Enterprise version as a complement to the Plus tier.
If you’re in the business domain, ChatGPT seems like an opportunity worth exploring. So that’s a wrap on the latest from OpenAI. The future is here, and AI is truly shaping the way we operate. Thank you so much for sticking around and sharing this experience with us. If you enjoyed this article, give it a big thumbs up and share it with your friends. Remember, every like, comment, and share brings us closer together as a community. If you haven’t already, hit that subscribe button and join the family. Let’s grow, learn, and explore together. Drop your thoughts, suggestions, or questions down in the comments. We really enjoy hearing from you. Until next time, stay curious, stay passionate, and most importantly, stay awesome. This is Make Money AI signing off. See you in the next one.
