AI in 2023 – Rises, Falls and Evolution

<p>In the tale of 2023, Artificial Intelligence stole the spotlight,
boasting numbers that whispered promises, stirred fears, and painted a vivid
portrait of tech's love affair with the future.</p><p>2023, the year when <a href="https://www.financemagnates.com/terms/a/artificial-intelligence-ai/">Artificial Intelligence (AI</a>) stepped into the
limelight, becoming some sort of tech rock star. It wasn't just a buzzword; it
was a global obsession, making waves across every industry, <a href="https://www.financemagnates.com/binary-options/technology/transformative-predictive-automated-2024s-regtech-ai-revolution/">including
finance</a>. </p><p>Here are the numbers that unravel this techno-drama:</p><p>ChatGPT – From Millions to Billions of Conversations</p><p>ChatGPT stormed onto the scene, charming a million users within its
first five days. Fast forward a year, and it's the weekly chat companion for a
staggering <a href="https://hypebeast.com/2023/11/openai-chatgpt-100-million-active-users-weekly">100
million people</a>. The API? Well, it's got 2 million developers in its
entourage, including the big shots from Fortune 500 companies.</p><blockquote><p lang="en" dir="ltr">100 million weekly active users now on ChatGPT according to <a href="https://twitter.com/sama?ref_src=twsrc%5Etfw">@sama</a> <a href="https://t.co/TRL6tclP6a">pic.twitter.com/TRL6tclP6a</a></p>— Emily Chang (@emilychangtv) <a href="https://twitter.com/emilychangtv/status/1721589038962843871?ref_src=twsrc%5Etfw">November 6, 2023</a></blockquote><p>Nvidia's $1.2 Trillion Odyssey</p><p>Nvidia, the king of GPU silicon, saw their market cap hit a cool $1
trillion in May, before soaring to $1.2 trillion toward the end of the year.
Why? Tech companies, big and small, swarmed like moths to the AI flame. <a href="https://www.financemagnates.com/forex/technology/nvidia-strikes-500m-investment-deal-for-ai-chips-with-voltage-park-report/">And
AI needs GPUs</a>…</p><blockquote><p lang="en" dir="ltr">Hardware is hard, but when it works… it REALLY works. • Apple: 40 years to $1 trillion market cap• NVIDIA: 20 years to $1 trillion• Tesla: 17 years to $500 billion• SpaceX: 21 years to $150 billion <a href="https://t.co/TjAoGx7B4U">pic.twitter.com/TjAoGx7B4U</a></p>— Christian Keil (@pronounced_kyle) <a href="https://twitter.com/pronounced_kyle/status/1697722908489957570?ref_src=twsrc%5Etfw">September 1, 2023</a></blockquote><p>15 Tech Companies Stand with Biden</p><p>15 tech companies signed up to the Biden administration's AI safeguards
bill. Voluntarily pledging to advance AI safely, these major players will make
sure that the tech is developed in a safe, secure manner.</p><blockquote><p lang="en" dir="ltr">Amazon, Google, Meta, Microsoft and other technology companies that are leading the development of artificial intelligence technology have agreed to meet a set of AI safeguards brokered by President Joe Biden's administration. <a href="https://t.co/v2sp5hoMtm">https://t.co/v2sp5hoMtm</a></p>— The Associated Press (@AP) <a href="https://twitter.com/AP/status/1682363595902910464?ref_src=twsrc%5Etfw">July 21, 2023</a></blockquote><p>Microsoft Drops $10 Billion</p><p>Microsoft, not one to miss the AI after-party, threw $10 billion on the
table for OpenAI, adding to the $3 billion it tossed in earlier. It's not just
an investment; it's a high-stakes bet on the future of intelligence, a gamble
with AI's wild cards.</p><blockquote><p lang="en" dir="ltr">Microsoft invested $10 billion into the creator of OpenAIBut Bill isn't being biased here <a href="https://t.co/DrKUKnA5Xr">pic.twitter.com/DrKUKnA5Xr</a></p>— Genevieve Roch-Decter, CFA (@GRDecter) <a href="https://twitter.com/GRDecter/status/1624076859326533635?ref_src=twsrc%5Etfw">February 10, 2023</a></blockquote><p>Mistral's Seed Shower</p><p>In the world of startups, <a href="https://www.financemagnates.com/fintech/ex-facebook-and-google-scientists-create-chatgpt-rival-valued-at-260m/">Mistral</a>
emerges as a star, raising a jaw-dropping $113.5 million seed round a mere
month after its launch. Before a product? Who cares? It's the biggest seed round
ever recorded in Europe, proving that sometimes, dreams can be bought “on plan”.</p><blockquote><p lang="en" dir="ltr">Mistral’s seed round—a term referring to a company’s first official equity funding—was the biggest ever recorded in Europe, according to data from <a href="https://t.co/1ZGl2UZT65">https://t.co/1ZGl2UZT65</a>, which tracks private investments in startups. <a href="https://t.co/Z5seaiRPNU">https://t.co/Z5seaiRPNU</a> <a href="https://t.co/SmLm3HsNgN">pic.twitter.com/SmLm3HsNgN</a></p>— FORTUNE (@FortuneMagazine) <a href="https://twitter.com/FortuneMagazine/status/1669989126316204032?ref_src=twsrc%5Etfw">June 17, 2023</a></blockquote><p>Amazon and Google Jump In</p><p>Amazon and Google took to the stage, spending $6 billion for Anthropic,
OpenAI's formidable rival. It's not just an investment; it's clear intent to compete.
Hmmm. <a href="https://www.financemagnates.com/trending/openai-soars-to-become-third-most-valuablestartup/">OpenAI
was valued at $80 billion</a> in October.</p><blockquote><p lang="en" dir="ltr">With Amazon's investment this now makes $6 billion flowing into Anthropic's war chest in the last two months. <a href="https://t.co/MH9gvo1gbi">pic.twitter.com/MH9gvo1gbi</a></p>— Andrew Curran (@AndrewCurran_) <a href="https://twitter.com/AndrewCurran_/status/1717997082483793955?ref_src=twsrc%5Etfw">October 27, 2023</a></blockquote><p>Business Hype vs. Reality</p><p>Despite the hype at S&amp;P 500 earnings calls, <a href="https://www.financemagnates.com/trending/ai-and-the-ceo-a-lot-of-talk-not-a-lot-of-action/">business
adoption of AI stands at a mere 3.8%</a>. It's the
business world taking a long, careful look.</p><p>Altman's 4-Day Drama</p><p>Sam Altman, for so many figurehead of AI, pulled off a <a href="https://www.financemagnates.com/fintech/sam-altmans-transition-to-microsoft-and-the-silent-politics-of-ai-governance/">CEO
merry-go-round in just four days</a>. Fired and rehired, it was certainly a
quick bit of boardroom drama. Well, it’s all settled now, so let’s see what the
future holds.</p><p>2023 was just the start, who knows where we'll end up.</p>

This article was written by Louis Parks at www.financemagnates.com.