This year’s CNBC Disruptor 50 list is all about artificial intelligence, with OpenAI’s ChatGPT taking the top spot. The power of AI has grown so quickly that 21 of the 50 companies on the list have reported AI already generates more than 50% of their revenue.
OpenAI’s ChatGPT developer is the first to offer a quantum leap in the interaction between humans and AI, allowing access to the full library of the internet universe. AI is having a similar impact to what the introduction of the iPhone did some 14 years ago when mobile access created an entirely new ecosystem of applications from Uber to Instagram, a then breakthrough in computing power. The same growth is being seen now around AI, and OpenAI is no stranger to the ride.
The power of AI is being used in a wide range of applications across different industries. Canva, ranked at number 3 on the list, is using ChatGPT to give customers more freedom to be creative, while Relativity Space, number 4 on the list, uses AI to make 3D printed rockets. Anduril Industries, number 7 on the list, takes advantage of AI to detect and defend against security issues. Meanwhile Octopus Energy, found at rank 8, uses AI to effectively match energy production and demand, and Lineage Logistics, at 9, uses AI to efficiently manage the temperature-controlled supply chain.
OpenAI has grown rapidly thanks to the support of Microsoft and its $13 billion cumulative investment and $29 billion dollar valuation. Their current business model features two sources of revenue; enterprise software, where customers pay for access to the platform, and a premium app with both a free and paid version.
That said, with great power comes great responsibility and the tech giant along with Elon Musk, co-founder of OpenAI and soon-to-be competitor, signed up to the Future of Life Institute’s open letter calling on AI labs to stop the training of AI models that are more powerful than OpenAI’s GPT-4. Despite this, Altman has been advocating for responsible regulations to ensure the safe use of AI, aiming to have regulations in place for the industry similar to the ones put in place for other technologies.
OpenAI is backed by a variety of venture capital, including Greylock and Inflection, co-founded by Reid Hoffman. Hoffman suggests that some of the criticism surrounding the technology could be more dangerous than OpenAI itself. He calls for careful consideration of the different possible outcomes for AI to play out, rather than slowing down the progress of its development.
Now more than ever, OpenAI is as a powerhouse driving the changes and development of AI. With its presence stamped on 21 of the top 50 Disruptors, their influence is only set to grow in the near future.
