While 2022 was the year of Web3, many are noticing the sharp shift to artificial intelligence (AI) among companies and individuals alike. 🤖
Feeding that feeling is Microsoft’s potential $10 billion investment in ChatGPT-owner OpenAI, which values the company at $29 billion. Microsoft had previously invested $1 billion in the Elon Musk and Sam Altman-founded company in 2019. Its cloud services arm also provides OpenAI’s computing power.
The investment reportedly provides Microsoft with 75% of OpenAI’s profits until its $10 billion is recouped. After that, it will retain a 49% stake, matching other investors’ 49% stake. OpenAI’s nonprofit parent will retain a 2% stake. 📝
The AI company’s chatbot recently took the internet by storm, performing various user tasks. But Microsoft’s buy-in and planned use cases are what really caught investors’ attention. 👀
One area ripe for disruption is search, with Microsoft intending to use the technology for its Bing search engine. 🔍
Although emerging technologies present an opportunity, they’re not without risk. For example, reports show that hackers are using ChatGPT to write malware. Schools are also banning the software because students are using it for assignments.
There are a lot of unknowns in the space, but 2023 will likely determine whether this technology is a fad or something more. 🤷