On November 30, 2022, OpenAI quietly unveiled a new product that would change the world. At the time, the company described it simply as “a model called ChatGPT, which enables conversational interaction.” However, three years later, it’s certainly no exaggeration to say that ChatGPT has completely transformed the world of business and technology. Today, the app remains number one on Apple’s free apps list and is considered the biggest catalyst for the wave of productive AI products.
ChatGPT’s 3rd Year: A Major Transformation from the Stock Market to Daily Life
Karen Hao, author of “Empire of AI,” argues that OpenAI is now more powerful than almost every nation state in the world. According to Hao, this technology is reshaping geopolitics and our lives. Charlie Warzel, a writer for The Atlantic, describes our current situation as “the world ChatGPT built.” This new world order is causing young people to worry about their career paths and older generations to fear the obsolescence of their skills.
Of course, there are those who view an AI-driven future with greater optimism and profit from it. However, investors and supporters, like everyone else, are also waiting. The primary reason for this anticipation, believers say, is that generative AI is never in its final form and is constantly evolving.
The impact ChatGPT has had on the stock market since its launch is quite clear. The biggest gainer was Nvidia, whose shares have increased by 979 percent. The seven most valuable companies in the S&P 500 index—Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta, and Broadcom—single-handedly accounted for nearly half of the index’s growth. These companies, which accounted for 20 percent of the index three years ago, now hold 35 percent of the market.
So how long will this growth last? The idea that we may be in a “bubble” is increasingly prevalent among AI executives. OpenAI CEO Sam Altman warned last August, “Someone is going to lose an extraordinary amount of money in AI.” Similarly, Sierra CEO Bret Taylor likens the current situation to the dot-com boom of the late 1990s. Taylor predicts that while some companies may fail, artificial intelligence, like the internet, will create significant economic value in the future. We will all see whether this optimism is justified in the next three years.
What are your thoughts on this three-year period that has fundamentally changed the technology world, and have AI tools become a part of your daily life?
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