Microsoft has taken an unprecedented step in the world of artificial intelligence: they are set to purchase a 49% stake worth $10 billion in OpenAI, the parent company behind AI services provider ChatGPT, according to a ChatGPT post on linkedin.
This could prove revolutionary for Microsoft as it will give them access to cutting-edge technology and provide strategic income when their initial investment is recovered – clearly demonstrating that this is no small deal!
With their investment, Microsoft would become part-owners of OpenAI with a 49% stake and the other 49% split between other investors. The OpenAI parent nonprofit graciously took 2%.
„With Microsoft’s billion-dollar investment in 2019, OpenAI is now raising funds at a whopping $29B valuation and allowing early investors to cash out. It doesn’t stop there… OpenAI is predicting hefty revenue of 1 Billion by 2024! This will allow them to put their Chatbot & AI tech into major software products like Word, Excel, Outlook, and more through Bing… this could be huge for both companies!” ChatGPT explains.
MS Office’s 1.4 billion users make it one of the greatest success stories in tech, and now WhatsApp/Instagram sees a major opportunity for an amazing deal!
But what is ChatGPT, and why is everyone so interested? Some people think that the last 25 years of tech innovation condensed into 1 month. Others are already seeing the future of our world in ChatGPT.
Here is one of them:
„I’m impressed because of what this thing is capable of, but I’m also a bit intimidated.
Why I’m I impressed with ChatGPT? Simple. Because I see the future of our world in this and I see the end of search engines like Google in ChatGPT. Facebook took 10 months to reach one million users. Instagram took two and a half months. ChatGPT: five days! In five days it reached a million subscribers.
So I need it to go and see for myself why. So I subscribed and I gave it a test. This thing gives you answers to your question that are so knowledgeable, so accurate, so deep, so profound that you think you are talking to the wisest, oldest, most knowledgeable human being in the world.
And I’ll give you some examples. I asked it a question. I said: „I run a coding academy. Give me a detailed marketing plan for my business. And it did. It was such a brilliant marketing plan. It was as if it was written by a marketing expert, all in a few seconds. Then I went deeper. I said: Well, ok. I have the marketing plan. Now give us a social media posting schedule day by day. And it did just that, within seconds. Amazing.
I even asked it personal type questions and it gave me answers. Questions like how do I effectively manage my team. And it was like it knew me. Then I took it a step further. I asked it about computer code. So I put it in some lines of computer code with a deliberate bug. It found the bug and it showed me how to fix that bug. I was impressed.
Now, why I’m intimidated by this technology?
Simple, because it’s not just going to kill search engine. I mean why go through Google, ask Google a question and then it gives you 10 million results, when ChatGPT can just give you the purest, most concise answer? Simple, because of the socioeconomic implications. What’s going to happen to jobs like the legal space, journalism, copywriting, call-centers? Because this thing understands and it speaks like a human being. And education because you can ask it to write an essay on just about any topic. Ask it to write about Einstein’s theory of general relativity and it’ll give you a detailed essay. Ask it to rephrase that on a primary school level. It will do that. Rephrase it as a poem, it will do that too.
So how is it going to affect education? Factual recall in education is dead. It’s not going to work anymore because of tech like this.„
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: