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ChatGPT, an AI-powered chatbot, has been a viral success and is predicted to bring in $1 billion in revenue by 2024.
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Three sources speaking to Reuters claim that OpenAI, the chatbot parent, sees revenue exceeding $200 million by 2023 and quintupling in the next year.
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ChatGPT can transform written instructions or prompts into essays, blogs, poems, and marketing taglines.
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It can also summarize text into bullet points. ChatGPT launched on Nov. 30 and already has one million users.
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OpenAI CEO Sam Altman tweeted that ChatGPT had achieved this in less than a week.
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ChatGPT is free to use during the research phase while the company gathers feedback.
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Developers who wish to integrate this tool into their software will pay approximately a penny per 20,000 words and about 2 cents each for images.
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OpenAI was initially founded to promote AI safety for humanity.
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However, in 2019, it changed its business model to become a 'capped-profit' hybrid company.
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Altman said, "It knows a lot, but it's dangerous because it's confident and wrong a substantial fraction of the time."