ChatGPT is making waves among Gen Z, but they won’t pay for the service. A recent survey by Bloomberg Intelligence found that customers aged 16-34 widely favor ChatGPT results compared to Google search and that usage of generative AI tools is notably higher in the younger generation. Popular applications for these tools include studying, creating conversational interfaces, and generating text and images for personal assistants. Since many of these users are unwilling to pay more than ten dollars a month for a subscription, this shift to more personalized digital experiences may prevent ChatGPT from becoming a reliable revenue source.
Bloomberg is a global financial software, data, and media company, providing extensive insights and analysis of global markets. It offers through its proprietary terminal, an integrated suite of enough products to enable customers to access, integrate, distribute, and manage data and information. Bloomberg’s analytics and platform tools can be used to access and analyze real-time financial data, news, and industry research.
Mandeep Singh is a Senior Industry Analyst with Bloomberg Intelligence. As an analyst, he helps clients by analyzing key trends related to their industry, providing in-depth reports on industry conditions, and making forecasting assumptions. Additionally, Mandeep provides clients with practical strategies and insights to capitalize and succeed in their field. He holds a degree in business and finance from the University of Toronto.
