In a recent development within the artificial intelligence sector, OpenAI, recognized for its ChatGPT chatbot, has unveiled a new marketplace. This platform is designed to provide users with access to bespoke AI “apps” capable of performing various tasks, ranging from teaching mathematics to creating sticker designs. This move by OpenAI, however, has generated a mix of responses in the AI community, particularly among startup founders who are concerned about their ability to compete in this evolving landscape.
Despite these concerns, key investors in OpenAI maintain an optimistic outlook. At the Reuters NEXT conference, they expressed confidence in the continued growth and innovation potential within the AI sector. Konstantine Buhler, a partner at Sequoia Capital, emphasized this optimism, stating, “There’s so much room for continued innovation in AI. We’re in an intermediary step in a decades-long revolution.” Sequoia Capital, an investor in OpenAI since 2021, alongside Microsoft, believes that the industry is far from reaching its zenith.
Avery Klemmer, a partner at Thrive Capital, another firm that has recently upped its investment in OpenAI, also shares this sentiment. She predicts a surge in consumer applications running parallel to ChatGPT, foreseeing a future rich in innovative formats and user engagement models based on AI chatbots.
This phase in AI development is still considered nascent by many experts in the field. While the creation of applications using large language models remains a costly affair, the pace of research in this domain is expected to bring down these costs significantly. This reduction will not only inspire new products but also expand the possibilities for existing businesses. Jill Chase, a partner at CapitalG, highlighted the significance of this trend during the Reuters NEXT conference. She stated, “The cost of inference coming down so dramatically may seem like a small thing, but it’s hugely impactful for what types of businesses can be created and what use cases incumbents can empower.”
