OpenAI Plans Significant Price Hike for ChatGPT Amid Explosive User Growth and Revenue Surge

Artificial intelligence reshapes recruitment with tools that streamline hiring by analyzing vast datasets on candidates. AI-powered systems assess resumes, predict cultural fit, and identify top talent based on job-specific criteria, reducing biases often ingrained in traditional methods. Advanced models, like ChatGPT, offer personalized candidate interactions, enabling pre-screening conversations and instantaneous answers to applicants’ queries. These technologies not only enhance efficiency but also elevate candidate experiences, replacing delays with seamless communication. As AI continues to integrate with recruitment platforms, companies can harness its potential to make data-driven hiring decisions that align with organizational goals while fostering diversity and inclusivity.

Table of Contents

• Today’s Highlights in Artificial Intelligence
• OpenAI Plans to Double ChatGPT’s Price
• Governor Newsom Vetoes California’s Controversial AI Bill, SB 1047
• Apple Withdraws from OpenAI Funding Round
• Innovative Robotic Hand Developed

Today’s Highlights in Artificial Intelligence

OpenAI Plans to Double ChatGPT’s Price

OpenAI is looking to increase the monthly subscription for ChatGPT from $20 to an ambitious $44 over the next five years. This strategic move aims for a staggering target of $100 billion in revenue by 2029.

• Recent Revenue Success: In August, OpenAI reported generating $300 million in revenue, thanks to a growing user base that expanded from 100 million in March to 350 million in June.
• Free Version Contributions: The free version contributes significantly, with an expected revenue of $2.7 billion this year, compared to just $700 million last year.

Governor Newsom Vetoes California’s Controversial AI Bill, SB 1047

California Governor Gavin Newsom has recently vetoed the AI bill SB 1047, which aimed to impose regulations on AI model development, particularly targeting high-cost models.

• Governor’s Argument: Newsom believes the bill would impose unnecessary burdens on lower-risk AI systems.
• Senator’s Response: Senator Scott Wiener, the bill’s author, expressed disappointment, viewing the veto as a setback for AI safety.
• Other Legislation: Notably, Governor Newsom signed seventeen other AI-related bills earlier this month, indicating a commitment to balanced regulations in the future.

Apple Withdraws from OpenAI Funding Round

In a surprising turn of events, Apple has decided to withdraw from a potentially groundbreaking funding round for OpenAI, which could have involved investments totaling $6.5 billion.

• Continued Interest from Competitors: Meanwhile, Microsoft and Nvidia are engaged in ongoing discussions to increase their investments.
• Transition Phase: OpenAI is currently navigating a complex transition from a nonprofit to a for-profit model, focusing on meeting investor demands while maintaining its innovative edge.

Innovative Robotic Hand Developed

Researchers at Switzerland’s École Polytechnique Fédérale de Lausanne have created a groundbreaking robotic hand that can detach itself from its arm and crawl to pick up objects.

• Enhanced Dexterity: This fascinating design improves dexterity and the ability to handle various objects.
• Researcher’s Insight: One researcher stated, “while it may look like something out of a horror movie, it’s all in the name of advancing technology.”

Stay Updated!

That’s all for today! Don’t forget to stay informed on the latest developments in Artificial Intelligence as this field continues to advance at a rapid pace.

Have a great week ahead!