OpenAI’s ChatGPT has emerged as the dominant conversational tool in the field of artificial intelligence (AI), experiencing a surge in global popularity. According to data gathered by Finbold, there has been an unprecedented demand for ChatGPT, as evidenced by a significant increase in Google searches for the term.
The popularity of ChatGPT on Google has skyrocketed over the course of its one-year existence, with an impressive spike of 400% since the start of 2023. It reached a peak popularity score of 100 on November 5, reflecting the growing interest in this generative AI tool. The demand for ChatGPT on Google has witnessed an astronomical increase of 9,900% over the past 12 months.
Examining the breakdown by country, China leads the pack with a peak score of 100, followed by the Philippines and Nepal in joint second position with a score of 32. Singapore and Sri Lanka share the third spot, both registering a score of 31.
One of the key factors contributing to ChatGPT’s popularity is its functionality and the advantage it gained as a first-mover in the AI conversation tool domain. Microsoft’s investment in OpenAI further solidified this advantage, allowing for the integration of ChatGPT into various Microsoft products, including Bing.
The rise of ChatGPT can be attributed to its effectiveness in assisting with a wide range of tasks across different industries. With its ability to comprehend and provide feedback on diverse human inputs, ChatGPT has proven invaluable in coding, content generation, and more. The sustained demand for ChatGPT has debunked earlier speculation that its success would wane, as it reached another record high in January 2023.
OpenAI has been responsive to user feedback, continuously improving the ChatGPT tool to meet evolving needs. Notably, they launched a mobile application and introduced a subscription service, ChatGPT Plus, to cater to users even during peak usage times. Memory upgrades, the development of personalized AI assistants, and the introduction of a marketplace for chatbots are among the notable enhancements made over the past year.
The success of ChatGPT has not only revolutionized the field of conversational AI but has also paved the way for the growth of other AI companies. In the period from January to November 2023, AI companies have attracted a staggering $2.86 trillion in market capitalization, indicating the immense potential of this industry. Chipmaker Nvidia experienced substantial growth in market capitalization, surpassing $1 trillion, thanks to its ventures in AI-related products. The overall AI market is projected to reach the trillion-dollar mark in the near future.
Interestingly, despite China’s crackdown on ChatGPT, the demand for the tool remains high within the country. Chinese users have explored alternative methods, such as using Virtual Private Networks (VPNs) or creating mirror sites, to access ChatGPT. Local technology giants, however, have opposed ChatGPT, with Tencent removing related programs from the WeChat platform. Speculation suggests that Chinese tech giants may be preparing to launch their own AI-powered conversational agents to compete with ChatGPT.
While ChatGPT has experienced remarkable growth, it now faces competition from other leading tech giants. Google, for example, recently unveiled its rival tool called Bard, which has been integrated into various Google products. This competition may impact ChatGPT’s market share unless OpenAI continues to innovate and maintain its current momentum.
As ChatGPT approaches its one-year milestone, its growth trajectory in the upcoming year becomes a subject of keen interest. OpenAI must navigate challenges such as a copyright infringement lawsuit and ongoing concerns about the potential dangers of AI. Nevertheless, the phenomenal success of ChatGPT and the burgeoning demand for AI conversation tools have positioned OpenAI as a frontrunner in this rapidly evolving industry.
