• On April 12, Sam Altman, the CEO of Open AI pitched ChatGPT Enterprise to hundreds of executives from Fortune 500.
  • It seems that OpenAI, credited with sparking the explosion of generative AI with its consumer offering, is looking forward to generating new sources of revenue from global corporates.
  • More and more people sign up to use Chat GPT.

Open AI’s Altman has pitched ChatGPT Enterprise to large firms to expand its revenue streams from corporates worldwide.

The meeting with company executives

According to Reuters on April 12, Sam Altman, the CEO of OpenAI, hosted hundreds of executives from Fortune 500 companies this month in San Francisco, New York, and London.  The three meetings with top business executives—two held in the United States last week and one on Monday in London—had not before been made public.

Brad Lifgtcap, the chief operating officer, and Altman provided product demos at each event. These included Chat GPT Enterprise, the company’s well-known enterprise-grade chatbot that produces text in response to straightforward prompts, software that links client applications to its AI services through APIs, and its brand-new text-to-video models.

The roadshow-style events show how the company, whose consumer offering is credited with igniting the generative AI explosion, is trying to expand its revenue streams from corporates worldwide.

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The future of ChatGPT

Based on the ChatGPT Enterprise customers’ data, it is illustrated that more than 92% of Fortune 500 companies already employ its chatbot.

The largest investor in OpenAI, Microsoft (MSFT.O) offers accessibility to Open AI’s technology but some audiences asked why they paid twice on ChatGPT when they are customers of Microsoft. Altman and Lightcap replied that this paying is the access for them to gain the latest models and customised AI products.

ChatGPT allowed OpenAI value at 86 million in a secondary sale in late 2022. It is expected to achieve the 1 billion revenue target it projected for 2024.

Lightcap said that more than 600,000 people signed up to use ChatGPT Enterprise and Team last week.

OpenAI has got in touch with Hollywood to promote the company’s Sora video creation tool, which can create and refine videos based on a user’s text description.