OpenAI’s ChatGPT became the fastest-growing app in history after its launch in November 2022. Since its launch, it created both excitement and alarm to replace human in jobs. Now a report by Analytics India Magazine has stated that the company might go bankrupt by the end of 2024. As per the report, when OpenAI applied for a trademark on GPT, it was seen as the downfall for the company and was also predicted that many users would eventually stop using the technology. The report also showed data where ChatGPT website witnessed a user decline in the month of June and July as compared to May. On 3 August, SimilarWeb said that the ChatGPT traffic dipped for the second month in a row. A 9.6 percent drop was seen in the month of July while June recorded 9.7 percent decline. Speaking of users, July saw a 12 percent decline with 1.5 billion users as compared to June’s 1.7 billion users. The report also cited a user on X which said a major reason for this decline could be API cannibalisation wherein most companies have been prohibiting their employees from using it for work. However, are free to use the API to integrate the large language model (LLM) into other workflows.
Full report : OpenAI likely to go bankrupt by the end of 2024.
