The Rise of ChatGPT: How Startups Embrace AI as the Ultimate Tech Tool
Staff Editor
2 min read
The use of AI technology is skyrocketing in the business world, with more and more startups turning to tools like OpenAI’s ChatGPT to streamline their operations. Kruze, a financial consulting firm specializing in early-stage, VC-backed companies, has reported a significant uptick in the number of startups on its platform utilizing ChatGPT. In fact, over 65% of the 800 startups on Kruze’s radar are now paying for the innovative chatbot, a massive increase from just 3% in December of 2022.
Healy Jones, the brain behind financial strategy at Kruze, has been closely monitoring the adoption of OpenAI’s technology among the firm’s startup clients since January 2021. According to Jones, the launch of ChatGPT in late 2022 was a game-changer, propelling its usage to new heights within the startup ecosystem. OpenAI offers both free and paid versions of ChatGPT, with the paid option, ChatGPT Plus, providing access to the more advanced GPT-4 model for a monthly fee of $20.
The impact of ChatGPT is not limited to financial startups alone. Engineers at CloudWalk, a fintech unicorn focused on building a payments network, have embraced ChatGPT Plus, hailing its capabilities within their company communication channels. Moreover, the recent introduction of ChatGPT Enterprise in August 2023 has further expanded the reach of the chatbot, offering tailored solutions for larger corporations seeking enhanced AI capabilities.
Feedback on the use of ChatGPT has been overwhelmingly positive, with users like Silva from Brazil noting improvements in writing, idea development, and overall productivity. This surge in ChatGPT adoption has also sparked a growing demand for engineers well-versed in leveraging generative AI tools to boost efficiency in various business functions. While most startups opt for the affordable ChatGPT Plus subscription, only a handful are investing in custom APIs or enterprise-level accounts, primarily due to their early-stage funding constraints.
Healy Jones remains vigilant about the evolving landscape of generative AI in business, keeping an eye on emerging products like Anthropic’s LLM-builder and GitHub’s software tools. As startups continue to explore innovative solutions to drive growth and efficiency, the role of AI technologies like ChatGPT is poised to become increasingly integral in shaping the future of work across diverse industries.
