OpenAI, the artificial intelligence start-up, has recently introduced ChatGPT Enterprise, a business version of its popular chatbot technology. Notably, the company has already formed partnerships with renowned companies such as Estée Lauder, Canva, and PwC.
This move has positioned OpenAI in direct competition with Microsoft (ticker: MSFT), its major investor. Microsoft has already launched Bing Chat Enterprise, leveraging OpenAI’s technology as a feature within Microsoft 365, its workplace software suite. It is worth mentioning that Microsoft holds a 49% stake in OpenAI.
ChatGPT Enterprise is powered by OpenAI’s cutting-edge language model, GPT-4. OpenAI has underscored its commitment to safeguarding the proprietary information of its partner companies by refraining from using their data to train the product or enhance its own offerings.
The adoption of ChatGPT has been widespread since its introduction nine months ago. According to OpenAI, over 80% of Fortune 500 companies have embraced the tool, based on the number of registered ChatGPT accounts. Organizations are leveraging ChatGPT to expedite coding tasks, address intricate queries, and assist with creative endeavors.
In addition to selling access to GPT-4 and other tools for companies and individuals, OpenAI has established collaborations with various firms. One notable example is Salesforce (CRM), a software maker that has launched Einstein GPT to facilitate the generation of marketing emails.