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Episode 31 Beyond the Generative AI Hype
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This is the state of Generative AI Today. The stunning speed of adoption of ChatGPT since its release in November 2022 has been extraordinary
ChatGPT currently has 1.16 billion users. It crossed 1 billion users in March 2023. These numbers depicted an increase of almost 55% from February 2023 to March 2023.
It managed to cross 1 million users within 5 days of its launch and 100 million users within two months.
By the end of 2024, it is expected to generate a revenue of $ 1 billion.
Almost 88% of the traffic on ChatGPT is direct traffic
Let’s compare this in context with other major technology adoption:
It took 38 years for Radio to reach 50 million users
It took TV 13 years to reach 50 million users
When Ipod first launched, it took 3 years to reach 50 million users
Facebook added 200 million years users in less than a year
What users quickly found was that productivity went through the roof. ChatGPT could understand and answer questions beyond a normal search query. It could be a great source to brainstorm ideas. It could explain complex things. It could draft letters. It could summarize long documents. It could write and debug code. It could translate in multiple languages. It could also write long form content or essays.
It is the one solution that’s being integrated into our everyday lives – to increase productivity, to access the right information much more quickly.
While there is this growing dependence on it, right now we should be cautious about how we’re using it. It is not a panacea or replacement for human reasoning. There are areas where technology is still nascent and it’s not performing so well.
We hosted Dr. Augustine Fou, a veteran of digital marketing with nearly 30 years of experience. We dove into questions about ChatGPT and why it’s been taking the world by storm, why you should still be cautious and interrogate its efficacy, and more importantly, how should you be leveraging the technology in a rational way.
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