The Hype And Success Of ChatGPT Is Proving A Lot For Other Tech Giants To Handle As China Rings The Alarm

ChatGPT is doing a great job at maintaining its success and popularity which continues to soar as we speak.

Downloads are in the millions and so far, despite the great controversies in this regard, people are loving the product.

But at the same time, it’s not all fun and games for the likes of other tech giants including firms in China. They’ve raised increased concerns about how profitable the tool has become and it has led to a downfall of their own shares, as a result.

No one (in the business of competition) likes to see the success of another and this tool seems to be reigning in on just that.

Deep Glint Tech Co. is just one example of a Chinese-based firm located in Beijing show stumbled greatly before ending at 10.2% on Monday. This is when the company claims it does not have the capability to offer such goods and services.

But that’s just the start of what critics fear may be turmoil for others in the industry as other companies are also keeping an eye out for how the product from OpenAI affects them and their respective markets.

Meanwhile, more caution aimed toward AI-based shares is coming forward as plenty of investors are trying to rush and cash in on the incentive outlined in front of them. Moreover, experts in the market claim that the hype is yet to be backed up by the likes of fundamentals. They also drew up comparisons to the likes of the blockchain main that soon dwindled down after a steady period of growth and profitability.

For most of the part, it’s not quite clear what the immediate benefits in this case are. Apart from those having the strong technical capability, the rest appear to be riding on the wave. This is why critics aren’t paying too much heed and feel that it won’t be sustainable for too long.

But Beijing’s Deep Glint firm is not the only one to raise concern over the success of ChatGPT. Others were quick to go public about how the actual release date and output for such endeavors are really raising uncertainty. Shares are fluctuating at a quick pace and that’s never good.

Meanwhile, the company called CloudWalk which is known to be a developer for face recognition says that it has yet to produce any form of revenue through the company’s products. Moreover, it claims it is yet to take part in any sort of collaboration involving OpenAI.

So the speculations are plenty and it will now be pivotal to see how firms may use this to better customer stickiness in the ecosystem or provide value. Next, it would be key to witness how this may be better monetized in both a direct and indirect manner.

As it is, China has been big on jumping on the bandwagon of the latest trends and craze at a pace that’s quicker than all others and even before firms launch their own goods in the market. But what other impacts ChatGPT ends up making can only be determined with time.

Read next: Microsoft’s New AI Bing Search Engine Makes Several Data Mistakes During Public Demo
Previous Post Next Post