Has the Generative AI Revolution Already Started?
Figure 1. Is the Pricing Of Generative AI Already Seeing A Decline? (Con, 2023). Retrieved from www.gadgetany.com
Generative AI is a rapidly growing field of technology, and it has been making huge strides in recent years. But with this growth comes an increase in prices for businesses seeking to integrate these services into their own products. OpenAI recently announced pricing for ChatGPT, its most powerful model, and it looks like the generative AI pricing collapse may have already started.
ChatGPT is a natural language processing (NLP) system that allows users to generate text from conversation. It was developed by OpenAI, a research lab founded by Elon Musk and other tech luminaries. The cost of using ChatGPT is 2 cents per 1000 tokens, which is about 750 words. This means that businesses would have to pay 8 cents per sentence generated by the system. That's significantly lower than what many other NLP systems charge, and it could be a sign that generative AI prices are on the decline.
The low cost of generative AI could have far-reaching implications for many industries. For example, it could help reduce the cost of developing new drugs or medical treatments by allowing researchers to quickly generate large amounts of data for testing purposes. It could also make it easier for companies to develop new products or services without having to invest heavily in research and development costs.
Figure 2. To create artificial general intelligence, "you need to have billions of dollars of investment,” says Ilya Sutskever, left, chief scientist of OpenAI LP, shown with Greg Brockman, the group's CTO.OPENAI. Retrieved from www.wired.com
However, there are still some challenges associated with generative AI that need to be addressed before its full potential can be realized. For example, there are concerns about how much control companies will have over the data generated by these systems and whether or not they will be able to maintain control over their intellectual property rights when using them. Additionally, there are questions about how reliable these systems will be in terms of accuracy and consistency when generating text from conversations.
Overall, generative AI looks like it could revolutionize many industries in the near future if its pricing continues to decline as expected. We'll just have to wait and see what happens next!