Financial Concerns Loom Large Over OpenAI's ChatGPT Despite Initial Success

Posted By: Aditya Gogoi Posted On: Aug 14, 2023

In a groundbreaking launch last November, OpenAI's ChatGPT captured the world's attention as the fastest-growing app ever, disrupting various professional sectors with its versatile capabilities. From scheduling tasks to generating fake legal notices, the AI tool has consistently made headlines. However, recent reports by Analytics India Magazine have raised a red flag over the company's financial prospects, suggesting that it might face bankruptcy by the end of next year.

Running just one of its AI services, ChatGPT, costs OpenAI a staggering $700,000 (approximately Rs 5.80 crore) per day. Despite the widespread usage, the AI Studio led by Sam Altman is grappling with financial challenges, burning through cash without turning a profit. Attempts to monetize GPT-3.5 and GPT-4 have fallen short of generating sufficient revenue to break even.

The decision by OpenAI to seek a trademark for GPT has raised concerns about the tool's long-term viability, with predictions that users might eventually discontinue its usage. A noticeable decline in ChatGPT's user base during June and July compared to May has also been highlighted in the report.

Recent similar web data underscores this trend, revealing a second consecutive drop in traffic. In July, the platform experienced a 9.6 per cent decrease in traffic, following a 9.7 per cent drop in June. The number of users dwindled by 12 per cent in July, falling from 1.7 billion users to 1.5 billion users.

Part of this decline has been attributed to API cannibalization, wherein various companies have discouraged employees from using the AI tool for work purposes. Instead, they have opted to integrate large language models (LLMs) into their workflows, with examples such as Meta's Llama 2 in partnership with Microsoft, which offers commercial utility.

The report highlights a stark financial reality for ChatGPT, revealing that the development process has cost the company around $540 million. While Microsoft's $10 billion investment has kept OpenAI afloat temporarily, the company's financial report for 2023 forecasts an annual revenue of $200 million, with projections of reaching $1 billion by the next year. This optimistic outlook seems challenging to achieve as losses continue to mount.

OpenAI's journey from groundbreaking success to financial uncertainty underscores the complexity of sustaining cutting-edge AI services. While ChatGPT's potential remains undeniable, the company now faces the daunting task of aligning financial sustainability with the innovation that captured the world's attention just months ago. As the AI landscape evolves, it remains to be seen how OpenAI will navigate this crucial juncture.

Source: News18
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Can You Guess The Only Indian Hotel In The World's Top 50

Posted By: Vanshika Pathak Posted On: Sep 21, 2023

Oberoi Hotels revealed that The Oberoi Amarvilas in Agra has been awarded the 45th rank in the World's Top 50 Hotels for 2023. This list was announced in London and comprises hotels from locations across the globe. The list is dominated by hotels in Europe and Asia. Hence the inclusion of The Oberoi Amarvilas, Agra is indeed prestigious for India.

The Oberoi Amarvilas is known as one of India's finest hotels. What makes it extraordinary is it is just 600 metres away from one of the seven wonders of the world- the Taj Mahal. Adding to this is the panoramic view of this UNESCO heritage site from the windows of its rooms and suites just adds to the charm of the hotel and makes the stay more magical.

According to Money Control, Arjun Oberoi, the Executive Chairman of the Oberoi Group felt honoured. He said, “We are honoured to be the sole representative of India on The World's 50 Best Hotels 2023 list. This recognition reflects our relentless pursuit of perfection, the dedication of our team and the timeless allure of The Oberoi Amarvilas, Agra," he said.

Vikram Oberoi, CEO and MD of the Oberoi Group shared his happiness as well. He shared that the team is delighted to be included in the inaugural listing of the World's 50 Best Hotels 2023. On this occasion, he remembered the founder Rai Bahadur MS Oberoi and the former Chairman and mentor PRS Oberoi and their belief that it is the colleagues who are the most valuable asset.

Passalacqua located close to Lake Como in Italy ranks first as the best hotel in the world. It is an 18th-century villa hotel and was the former home of composer Vincenzo Bellini. Reportedly, this is the first time that the 50 Best organisation has ranked hotels. It usually ranks the World's 50 Best Restaurants and the World's 50 Best Bars for many years.

These rankings in the list are completely based on nominations by 580 anonymous voters who are travel journalists, hoteliers and luxury travellers across the world.

Source: News18
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OpenAI Unveils Dall-E 3

Posted By: Jogendra Kumar Posted On: Sep 21, 2023

(Reuters) - OpenAI on Wednesday unveiled Dall-E 3, the latest version of its text-to-image tool that uses its wildly popular AI chatbot ChatGPT to help fill in prompts.

Dall-E 3 will be available to ChatGPT Plus and Enterprise customers in October via the API, the company said. Users can type in a request for an image and tweak the prompt through conversations with ChatGPT.

"DALL-E 3 can translate nuanced requests into extremely detailed and accurate images," the company said in a statement.

OpenAI said the latest version of the tool will have more safeguards such as limiting its ability to generate violent, adult, or hateful content.

The tool also has mitigations to decline requests that ask for images of a public figure by name, or those that ask for images in the style of a living artist.

OpenAI said creators could opt out of using some or all of their work used to train future text-to-image tools.

OpenAI's race to create accurate text-to-image AI tools has several competitors, including Alibaba's Tongyi Wanxiang, Midjourney and Stability AI, who continue to refine their image-generating models.

However, there are several concerns around AI-generated images. A Washington D.C. court in August ruled that a work of art created by AI without any human input could not be copyrighted under U.S. law.

OpenAI also faces several lawsuits. A trade group for U.S. authors recently sued the artificial intelligence leader on behalf of writers including John Grisham and "Game of Thrones" novelist George R.R. Martin accusing the company of unlawfully training its chatbot ChatGPT on their work.

Source: News18
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Game of Thrones

Posted By: Tarun Kumar Posted On: Sep 21, 2023

A trade group for U.S. authors has sued OpenAI in Manhattan federal court on behalf of prominent writers including John Grisham, Jonathan Franzen, George Saunders, Jodi Picoult and “Game of Thrones" novelist George R.R. Martin, accusing the company of unlawfully training its popular artificial-intelligence based chatbot ChatGPT on their work.

The proposed class-action lawsuit filed late on Tuesday by the Authors Guild joins several others from writers, source-code owners and visual artists against generative AI providers. In addition to Microsoft-backed (MSFT.O) OpenAI, similar lawsuits are pending against Meta Platforms and Stability AI over the data used to train their AI systems.

Other authors involved in the latest lawsuit include “The Lincoln Lawyer" writer Michael Connelly and lawyer-novelists David Baldacci and Scott Turow. OpenAI and other AI defendants have said their use of training data scraped from the internet qualifies as fair use under U.S. copyright law.

An OpenAI spokesperson said on Wednesday that the company respects authors' rights and is “having productive conversations with many creators around the world, including the Authors Guild." Authors Guild CEO Mary Rasenberger said in a statement on Wednesday that authors “must have the ability to control if and how their works are used by generative AI" in order to “preserve our literature."

The Authors Guild's lawsuit claims that the datasets used to train OpenAI's large language model to respond to human prompts included text from the authors' books that may have been taken from illegal online “pirate" book repositories. The complaint said ChatGPT generated accurate summaries of the authors' books when prompted, indicating that their text is included in its database.

It also cited growing concerns that authors could be replaced by systems like ChatGPT that “generate low-quality ebooks, impersonating authors and displacing human-authored books."

Source: News18
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When Thalapathy Vijay Encouraged Atlee To Give His Life To Jawan Published 23 minutes ago

Posted By: Vanshika Pathak Posted On: Sep 21, 2023

Atlee is currently riding high on the success of the Bollywood blockbuster Jawan, starring Shah Rukh Khan and Nayanthara in the lead roles. While the director is well known for his collaborations with South Indian superstar Thalapathy Vijay, he recently opened up about the actor's reaction to him working with King Khan. In an interview with Hindustan Times, the filmmaker shared that the opportunity to work with SRK was like a dream come true moment for him. Atlee shared that initially, even the Master star couldn't believe him, but later, he encouraged the director to pour his heart and soul into the project.

The filmmaker recalled, “When Shah Rukh sir asked me to make a film with him, it was like a lifetime opportunity for any director. I was very happy, I said yes. Then I went to Vijay sir and told him. He said, ‘Are you serious? He came to you?' I said he did. He said, ‘Give your life to it'.”

“I learnt a lot from Khan sir, by being patient, getting everything right, taking the film to the next level. Shah Rukh sir has taught me to raise the bar. My next film will have even better energy and we'll make something bigger than Jawan,” Atlee added.

Further, the director mentioned that initially, he thought of creating a typical romantic film with SRK. However, the superstar expressed his desire to be a part of a project that fit Atlee's unique style and vision. He wanted to explore something different that he hadn't attempted before. This pushed the filmmaker to create a new concept and storyline that would align with his own creative world.

Meanwhile, in an earlier interview with Siddharth Kannan, the Bigil director spoke about the potential collaboration between, Thalapathy Vijay and Shah Rukh Khan and shared that both actors had expressed genuine interest in working together on a project. Initially, Atlee thought they might be saying this as a birthday gift to him. However, the following day, Vijay confirmed his commitment to the project, while Khan, who was present during this conversation, also shared his eagerness to collaborate and asked if they were serious about making a film together.

Jawan is continuing its remarkable run at the global box office, having recently crossed the milestone of Rs 800 Crore in worldwide earnings. In India, the action-packed drama is rapidly approaching the Rs 700 Crore mark, while its overseas collection has collected Rs 295 Crore.

Source: News18
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Game of Thrones Author George RR Martin Sues OpenAI For Using His Work To Train ChatGPT Published 35 minutes ago

Posted By: Aditya Gogoi Posted On: Sep 21, 2023

George RR Martin, the author behind the hugely successful Game of Thrones franchise, along with other authors, has sued the generative AI company OpenAI. They allege that OpenAI has used their books to train ChatGPT and other AI models.

As reported by The Verge, 17 popular authors—including David Baldacci, Jonathan Franzen, John Grisham, George R.R. Martin, and Jodi Picoult—have filed the lawsuit in the Southern District of New York.

As per the complaint filed by the authors, OpenAI was accused of copying the authors' “works wholesale, without permission or consideration.” Once copied, the information was used to train OpenAI's large language models.

For those uninitiated, Large Language Models, or LLMs are the brains of any chatbot like ChatGPT or Google Bard. For instance, the free version of ChatGPT uses GPT 3.5, while Google uses its PaLM 2 model for Bard.

The complaint notes that these “authors' livelihoods derive from the works they create. But Defendants' LLMs endanger fiction writers' ability to make a living, in that the LLMs allow anyone to generate—automatically and freely (or very cheaply)—texts that they would otherwise pay writers to create.” It added, “Moreover, Defendants' LLMs can spit out derivative works: material that is based on, mimics, summarizes, or paraphrases Plaintiffs' works, and harms the market for them.”

In reply, OpenAI's (defendant) CEO Sam Altman said that he agrees with the authors' concerns, and that he wants to ensure that the “creator economy continues to be vibrant is an important priority for OpenAI.”

“OpenAI does not want to replace creators,” Altman added.

It's anyone's guess how this battle between AI and creators will play out in the coming days, months, and years. Generative AI seems to be here to stay, and as LLMs get better, they may need more training material to keep up. It will be interesting to see how this pans out.

Source: News18
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Humanity Still Exists

Posted By: Vishal Maurya Posted On: Sep 20, 2023

A stranded mako shark that washed ashore on Pensacola Beach in Florida received help from a group of brave Samaritans. Footage of the incident circulating on social media has restored faith in humanity by winning over multiple hearts. According to a report by the Independent, the rescue video was captured by beachgoer Tina Fey on Facebook. She was accompanied by her husband Josh when the stranded marine creature caught the attention of surrounding beachgoers. Josh along with three other men jumped into action to save the helpless fish stuck on the shore. The video opens to show a group working in sync to push the gigantic creature back into the water.

“Babe, look at them freaking teeth," Tina yells while capturing the moment seemingly asking her husband to stay alert. The marine being doesn't react initially but at one point it begins to thrash water around by moving its tail and fangs. The group understands the fish's discomfort and leaves it alone for a brief moment. “Babe, it's too dangerous, don't be doing that," Tina frantically advises her husband to be careful again. Once the men are sure it's safe to resume their rescue mission they begin to drag the shark into the water again. Almost the entire group works during the pulling process, but toward the end, most of them move behind leaving only one to direct the shark's way.

The footage ends with the fish completely submerged in water and moving away from the shore as other beachgoers begin to applaud the brave Samaritans for their quick effort. Take a look at the video here:

The shark rescuers have been bombarded with an abundance of praise and appreciation on social media. Reacting to the clip, a user said, “Acts like these are very important for environmental conservation and animal safety."

Another wrote, “Total respect. Thank you, shark savers."

One more agreed, “What brave souls they are. Wow! That beast is very strong."

Meanwhile, a user simply noted, “Humanity still exists."

According to the Independent, Tina Fey revealed the shark appeared when they were casually swimming near the shore. “It just showed up while we were swimming. I just so happened to be right in front of us. We took action to get him back in the water since the wildlife people and lifeguards told us there was nothing they could do! So, we did our best to try to save him," she reportedly captioned the footage while sharing it on Facebook. It is suggested that Tina and her husband had taken a trip to the beach in Texas to celebrate their wedding anniversary.

Source: News18
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Google takes first step to add plugins on Bard with own apps

Posted By: Preeti Dabar Posted On: Sep 20, 2023
The move marks Google?s first step towards keeping pace with rival tech firm OpenAI?s chatbot, ChatGPT, in terms of the usage of plugins on the platform. (BLOOMBERG)

On Tuesday, Google announced the latest addition to its generative artificial intelligence (AI) chatbot, Bard—adding the ability for users to link their entire suite of Google apps to the chatbot. By doing so, users will get the ability to pull information from their stored documents and spreadsheets, as well as tap public Google services such as Maps and YouTube, within Bard’s responses.

The move marks Google's first step towards keeping pace with rival tech firm OpenAI's chatbot, ChatGPT, in terms of the usage of plugins on the platform. However, speaking at a media roundtable, Amar Subramanya, vice-president of engineering at Google, refrained from offering a timeline on when the applicability of such plugins would be extended to third parties as well.

Plugins, which are mini versions of applications that can be integrated across different software platforms, offer a way for applications to communicate between each other. For instance, a video-conferencing application can use the plugin of a calendar app used by a user, in order to seamlessly integrate timing schedules for the latter.

On Tuesday, Google said the latest version of its Bard chatbot, which integrates its own apps as plugins, has also been upgraded to a new version of its underlying large language model (LLM), Pathways Language Model 2 (PaLM 2). The first rollout of plugins will be available only in English, while Bard conversations can also be shared between users to continue collaborative conversations.

Subramanya also confirmed that the new version of Bard will now offer image-based queries and responses in over 40 languages—support for which Google had announced on 13 July. Indian languages included in this support are Bangla, Gujarati, Hindi, Kannada, Malayalam, Marathi, Tamil, Telugu and Urdu.

While this brings support for popular Google services, Bard continues to trail behind OpenAI's ChatGPT. The latter started rolling out support for third-party plugins from 23 March, and on 28 August it also introduced ChatGPT Enterprise. The latter claimed to offer privacy of data to paying enterprise customers in deploying ChatGPT for internal or business use cases, with the company stating in a blog post that company data will not be used to train its underlying LLMs.

Google, too, made a similar claim with its Tuesday announcement. In a blogpost, Yury Pinsky, director of product management at Bard, added that despite integrating plugins of content stored in users' email accounts—which come with massive privacy implications—Bard will not use the data to show ads or train the underlying LLM. “If you choose to use the Workspace extensions, your content from Gmail, Docs and Drive is not seen by human reviewers, used by Bard to show you ads or used to train the Bard model…You're always in control of your privacy settings when deciding how you want to use these extensions," he said.

Subramanya, at the roundtable, added, “We are very transparent with users in terms of what data gets collected, and giving them control over the data."

Source: Live Mint
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Ex-Indian Cricketer Virender Sehwag Calls Out Investment Firm

Posted By: Anita Mamgai Posted On: Sep 19, 2023

Investing in the stock market has become quite popular now. Many people are now actively taking part in trading. From young students to homemakers, people are now actively engaging in trading to generate a passive source of income. But it is important to note that, as much as it is beneficial, it also involves a lot of risks. There are times when the market goes down and the money is lost. Apart from that, there have also been various scammers who work as brokers. Even celebrities have lost their money while getting trapped in these scams. Now, former Indian cricketer Virender Sehwag has also expressed himself on social media about the scams of the stock market.

Virender Sehwag has always been in the limelight for his hilarious tweets and controversial opinions. Recently, the former Indian cricketer hit the spotlight while replying to X channel account holder @ViaWealthy. He commented on a tweet posted by the account and called them out for being fraudulent and scamming people with their money.

@ViaWealthy, which is a SEBI-registered wealthy advisory firm, posted, “20 hazaar se dar nai lagtaa saab. T shirts se lagta hai. A 2008 victim." In response to this tweet, Virender Sehwag called them out and wrote, “Tumhaare jaise bhagode choron se lagta hai, who for a commission buy pump and dump shares in clients account with malafide intentions in a proper understanding with the promoter. You have scammed many innocents, and your game is over."

After Virender Sehwag's comment, many people on the microblogging platform had a series of reactions. Currently, the post has been deleted by the account.

But this was not the only time that the former star cricketer had called out the wealth-advising company on social media. Earlier in February 2022, he tweeted about Pritam Deuskar, owner of Wealthy Via, and called him a fraud. He also wrote that he is part of a syndicated network, has duped several innocent retail investors, and has even stopped answering investor calls. He even mentioned that if the money is not returned to the investors, legal action will be taken against him.

Source: News18
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Could OpenAI be the next tech giant

Posted By: Jogendra Kumar Posted On: Sep 19, 2023
OpenAI,, which is backed by Microsoft, established an early lead by launching ChatGPT last November (Photo: Reuters)

The creation of a new market is like the start of a long race. Competitors jockey for position as spectators excitedly clamour. Then, like races, markets enter a calmer second phase. The field orders itself into leaders and laggards. The crowds thin.

In the contest to dominate the future of artificial intelligence, OpenAI, a startup backed by Microsoft, established an early lead by launching ChatGPT last November. The app reached 100m users faster than any before it. Rivals scrambled. Google and its corporate parent, Alphabet, rushed the release of a rival chatbot, Bard. So did startups like Anthropic. Venture capitalists poured over $40bn into AI firms in the first half of 2023, nearly a quarter of all venture dollars this year. Then the frenzy died down. Public interest in AI peaked a couple of months ago, according to data from Google searches. Unique monthly visits to ChatGPT's website have declined from 210m in May to 180m now (see chart).

The emerging order still sees OpenAI ahead technologically. Its latest AI model, GPT-4, is beating others on a variety of benchmarks (such as an ability to answer reading and maths questions). In head-to-head comparisons, it ranks roughly as far ahead of the current runner-up, Anthropic's Claude 2, as the world's top chess player does against his closest rival—a decent lead, even if not insurmountable. More important, OpenAI is beginning to make real money. According to The Information, an online technology publication, it is earning revenues at an annualised rate of $1bn, compared with a trifling $28m in the year before ChatGPT's launch.

Can OpenAI translate its early edge into an enduring advantage, and join the ranks of big tech? To do so it must avoid the fate of erstwhile tech pioneers, from Netscape to Myspace, which were overtaken by rivals that learnt from their early successes and stumbles. And as it is a first mover, the decisions it takes will also say much about the broader direction of a nascent industry.

OpenAI is a curious firm. It was founded in 2015 by a clutch of entrepreneurs including Sam Altman, its current boss, and Elon Musk, Tesla's technophilic chief executive, as a non-profit venture. Its aim was to build artificial general intelligence (AGI), which would equal or surpass human capacity in all types of intellectual tasks. The pursuit of something so outlandish meant that it had its pick of the world's most ambitious AI technologists. While working on an AI that could master a video game called “Dota", they alighted on a simple approach that involved harnessing oodles of computing power, says an early employee who has since left. When in 2017 researchers at Google published a paper describing a revolutionary machine-learning technique they christened the “transformer", OpenAI's boffins realised that they could scale it up by combining untold quantities of data scraped from the internet with processing oomph. The result was the general-purpose transformer, or GPT for short.

Obtaining the necessary resources required OpenAI to employ some engineering of the financial variety. In 2019 it created a “capped-profit company" within its non-profit structure. Initially, investors in this business could make 100 times their initial investment—but no more. Rather than distribute equity, the firm distributes claims on a share of future profits that come without ownership rights (“profit-participation units"). What is more, OpenAI says it may reinvest all profits until the board decides that OpenAI's goal of achieving AGI has been reached. OpenAI stresses that it is a “high-risk investment" and should be viewed as more akin to a “donation". “We're not for everybody," says Brad Lightcap, OpenAI's chief operating officer and its financial guru.

Maybe not, but with the exception of Mr Musk, who pulled out in 2018 and is now building his own AI model, just about everybody seems to want a piece of OpenAI regardless. Investors appear confident that they can achieve venture-scale returns if the firm keeps growing. In order to remain attractive to investors, the company itself has loosened the profit cap and switched to one based on the annual rate of return (though it will not confirm what the maximum rate is). Academic debates about the meaning of AGI aside, the profit units themselves can be sold on the market just like standard equities. The firm has already offered several opportunities for early employees to sell their units.

SoftBank, a risk-addled tech-investment house from Japan, is the latest to be seeking to place a big bet on OpenAI. The startup has so far raised a total of around $14bn. Most of it, perhaps $13bn, has come from Microsoft, whose Azure cloud division is also furnishing OpenAI with the computing power it needs. In exchange, the software titan will receive the lion's share of OpenAI's profits—if these are ever handed over. More important in the short term, it gets to license OpenAI's technology and offer this to its own corporate customers, which include most of the world's largest companies.

It is just as well that OpenAI is attracting deep-pocketed backers. For the firm needs an awful lot of capital to procure the data and computing power necessary to keep creating ever more intelligent models. Mr Altman has said that OpenAI could well end up being “the most capital-intensive startup in Silicon Valley history". OpenAI's most recent model, GPT-4, is estimated to have cost around $100m to train, several times more than GPT-3.

For the time being, investors appear happy to pour more money into the business. But they eventually expect a return. And for its part Openai has realised that, if it is to achieve its mission, it must become like any other fledgling business and think hard about its costs and its revenues.

GPT-4 already exhibits a degree of cost-consciousness. For example, notes Dylan Patel of SemiAnalysis, a research firm, it was not a single giant model but a mixture of 16 smaller models. That makes it more difficult—and so costlier—to build than a monolithic model. But it is then cheaper to actually use the model once it has been trained. because not all the smaller models need be used to answer questions. Cost is also a big reason why OpenAI is not training its next big model, GPT-5. Instead, say sources familiar with the firm, it is building GPT-4.5, which would have “similar quality" to GPT-4 but cost “a lot less to run".

But it is on the revenue-generating side of business that OpenAI is most transformed, and where it has been most energetic of late. AI can create a lot of value long before AGI brains are as versatile as human ones, says Mr Lightcap. OpenAI's models are generalist, trained on a vast amount of data and capable of doing a variety of tasks. The ChatGPT craze has made OpenAI the default option for consumers, developers and businesses keen to embrace the technology. Despite the recent dip, ChatGPT still receives 60% of traffic to the top 50 generative-AI websites, according to a study by Andreessen Horowitz, a venture-capital (VC) firm which has invested in OpenAI (see chart).

Yet OpenAI is no longer only—or even primarily—about ChatGPT. It is increasingly becoming a business-to-business platform. It is creating bespoke products of its own for big corporate customers, which include Morgan Stanley, an investment bank. It also offers tools for developers to build products using its models; on November 6th it is expected to unveil new ones at its first developer conference. And it has a $175m pot to invest in smaller AI startups building applications on top of its platform, which at once promotes its models and allows it to capture value if the application-builders strike gold. To further spread its technology, it is handing out perks to AI firms at Y Combinator, a Silicon Valley startup nursery that Mr Altman used to lead. John Luttig of Founders Fund (a VC firm which also has a stake in OpenAI), thinks that this vast and diverse distribution may be even more important than any technical advantage.

Being the first mover certainly plays in OpenAI's favour. GPT-like models' high fixed costs erect high barriers to entry for competitors. That in turn may make it easier for OpenAI to lock in corporate customers. If they are to share internal company data in order to fine-tune the model to their needs, many clients may prefer not to do so more than once—for cyber-security reasons, or simply because it is costly to move data from one AI provider to another, as it already is between computing clouds. Teaching big models to think also requires lots of tacit engineering know-how, from recognising high-quality data to knowing the tricks to quickly debug the source code. Mr Altman has speculated that fewer than 50 people in the world are at the true model-training frontier. A lot of them work for OpenAI.

These are all real advantages. But they do not guarantee OpenAI's continued dominance. For one thing, the sort of network effects where scale begets more scale, which have helped turn Alphabet, Amazon and Meta into quasi-monopolists in search, e-commerce and social networking, respectively, have yet to materialise. Despite its vast number of users, GPT-4 is hardly better today than it was six months ago. Although further tuning with user data has made it less likely to go off the rails, its overall performance has changed in unpredictable ways, in some cases for the worse.

Being a first mover in model-building may also bring some disadvantages. The biggest cost for modellers is not training but experimentation. Plenty of ideas went nowhere before the one that worked got to the training stage. That is why OpenAI is estimated to have lost $500m last year, even though GPT-4 cost one-fifth as much to train. News of ideas that do not pay off tends to spread quickly throughout AI world. This helps OpenAI's competitors avoid going down costly blind alleys.

As for customers, many are trying to reduce their dependence on OpenAI, fearful of being locked into its products and thus at its mercy. Anthropic, which was founded by defectors from OpenAI, has already become a popular second choice for many AI startups. Soon businesses may have more cutting-edge alternatives. Google is building Gemini, a model believed to be more powerful than GPT-4. Even Microsoft is, despite its partnership with OpenAI, something of a competitor. It has access to GPT-4's black box, as well as a vast sales force with long-standing ties to the world's biggest corporate IT departments. This array of choices diminishes OpenAI's pricing power. It is also forcing Mr Altman's firm to keep training better models if it wants to stay ahead.

The fact that OpenAI's models are a black box also reduces its appeal to some potential users, including large businesses concerned about data privacy. They may prefer more transparent “open-source" models like Meta's LLaMA 2. Sophisticated software firms, meanwhile, may want to build their own model from scratch, in order to exercise full control over its behavour.

Others are moving away from generality—the ability to do many things rather than just one thing—by building cheaper models that are trained on narrower sets of data, or to do a specific task. A startup called Replit has trained one narrowly to write computer programs. It sits atop Databricks, an AI cloud platform which counts Nvidia, a $1trn maker of specialist AI semiconductors, among its investors. Another called Character AI has designed a model that lets people create virtual personalities based on real or imagined characters that can then converse with other users. It is the second-most popular AI app behind ChatGPT.

The core question, notes Kevin Kwok, a venture capitalist (who is not a backer of OpenAI), is how much value is derived from a model's generality. If not much, then the industry may be dominated by many specialist firms, like Replit or Character AI. If a lot, then big models such as those of OpenAI or Google may come out on top.

Mike Speiser of Sutter Hill Ventures (another non-OpenAI backer) suspects that the market will end up containing a handful of large generalist models, with a long tail of task-specific models. If AI turns out to be all it is cracked up to be, being an oligopolist could still earn OpenAI a pretty penny. And if its backers really do see any of that penny only after the company has created a human-like thinking machine, then all bets are off.

© 2023, The Economist Newspaper Limited. All rights reserved. From The Economist, published under licence. The original content can be found on www.economist.com

Source: Live Mint
Related Posts: OPENAI,CHATGPT,TECH GIANT,NEXT TECH GIANT,MICROSOFT,ARTIFICIAL INTELLIGENCE,GENERATIVE AI,GOOGLE BARD,SAM ALTMAN,AI MODEL,NETSCAPE,MYSPACE,ELON MUSK,AI BOOM,LARGE LANGUAGE MODELS

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This smallcap agrochemical stock more than doubles in one year

Posted By: Ajay Rawat Posted On: Sep 18, 2023

Agrochemical and pesticides company Kilpest India Ltd has given substantial return to its investors in the last one year. The smallcap stock has more than doubled investors' wealth in the last one year.

The investors who had invested Rs 1 lakh in the leading agrochemicals company have turned millionaires in just 8 years.

Kilpest India shares are under focus after global brokerage Nuvama recommended a ‘buy' rating on the agrochemical and pesticides on healthy growth potential in the molecular diagnostics business.

The brokerage increased the target price to Rs 1,184 apiece, implying an upside of 43% from the closing price of Rs 823.15 per share on September 12.

According to Nuvama's analysis, the molecular diagnostics market in India currently stands at approximately Rs 300-400 crore, with Kilpest holding a market share of 10-12.5%.

Shares of Kilpest India were trading more than 3% higher in morning trade on Monday. The stock was trading 2.99% higher at 806.2 apiece on BSE at 10:05 AM.

The smallcap stock has gained nearly 90% in the past three months and more than 36% in the past one month period.

In September 2015, Kilpest shares were priced at a modest Rs 7.90. Currently, the stock price has skyrocketed by an astounding 10155%, reaching Rs 818 per piece. In just eight years, Kilpest has transformed an investment of Rs 1 lakh into an impressive more than Rs 1 crore. Kilpest India has turned into a multibagger stock delivering remarkable returns both in the short-term and the long-term.

Last year, on September 29, 2022, it was at a one-year low of Rs 315.05. After this, in less than a year, it has more than doubled in value and reached a record high of Rs 867 on September 11, 2023.

In September last year, Kilpest shares hit a yearly low at Rs 315.05. In less than a year, they soared by over 134%. However, the stock is currently trading 6% lower than its last 52-week high of Rs 867.

Source: News18
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