OpenAI CEO Sam Altman has been hosting events in San Francisco, New York and London for Fortune 500 executives to pitch AI services for corporate use, potentially competing with financial backer Microsoft, according to attendees.
The company, known for its consumer AI offerings, is looking to expand its revenue streams by targeting corporate clients worldwide. These events, which took place in the U.S. and London, involved product demonstrations of ChatGPT Enterprise, software for AI services, and text-to-video models.
OpenAI promised not to use customer data to train its models for ChatGPT Enterprise. They highlighted various applications for industries like finance, healthcare, and energy, and noted that the consumer version of ChatGPT is widely used by Fortune 500 companies.
Microsoft, as the biggest investor in OpenAI, offers access to OpenAI’s technology through Azure cloud services and Microsoft 365 Copilot. Some attendees questioned why they should pay for ChatGPT Enterprise if they are already Microsoft customers.
OpenAI, valued at $86 billion, has been diversifying its revenue streams, with a focus on enterprise sales. The company expects to reach its $1 billion revenue target by 2024. OpenAI is working on new products like ChatGPT stores and has seen significant interest in its Sora video creation tool.
Executives from major Hollywood studios are interested in using Sora but have raised concerns about the source of training data, reliability of output, and copyright protection. Fox and News Corp also hosted Altman at a leadership retreat where he participated in a Q&A session.
OpenAI, led by CEO Sam Altman, has been hosting meetings with Fortune 500 company executives in San Francisco, New York, and London to pitch AI services for corporate use. The company is looking to expand its revenue sources by targeting corporate clients, potentially competing with its biggest investor, Microsoft. Attendees at these events have been introduced to products such as ChatGPT Enterprise, software to connect customer applications to AI services, and text-to-video models. OpenAI has assured customers that their data will not be used to train its models. The company is focusing on diversifying its revenue stream, with a projected $1 billion revenue target for 2024. OpenAI is also looking to expand its presence in Hollywood with its Sora video creation tool, though there are concerns about the source of the video used to train Sora and its ability to protect copyrighted works.
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