OpenAI, the Microsoft-backed creator of ChatGPT, is in the development stages of an innovative agent software aimed at automating intricate tasks through device control, as per an individual familiar with the project, as reported by The Information based on source inputs. This agent software is envisioned to manage a range of web-based tasks, including but not limited to gathering public data concerning various companies, organising travel itineraries, and facilitating flight bookings.
These forthcoming assistants, often referred to as "agents," are poised to undertake more complex personal and professional duties upon human command, reducing the need for constant supervision.
OpenAI gained significant attention with the release of its ChatGPT chatbot in late 2022, which popularised generative AI by showcasing its capabilities in composing sonnets and drafting emails.
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GenAI To Become $100-Billion Sector In Two Years
Furthermore, an industry report forecasts a lucrative future for generative AI (GenAI), predicting it to burgeon into a $100 billion sector by 2026. AltIndex.com data indicates an impressive 65 per cent surge in the GenAI market over the next two years, with OpenAI's ChatGPT cited as a significant driver of this growth. The chatbot achieved a historic milestone in 2023, becoming the fastest-growing app ever, amassing 100 million users within just two months.
The GenAI market experienced an extraordinary ascent between 2020 and 2023, catapulting from $5.7 billion to $44.9 billion, reflecting a remarkable 690 per cent increase.
However, projections from Statista suggest a slowdown in the annual growth rate for 2024, with an overall market expansion of 48.4 per cent, reaching an estimated value of $66.6 billion.
Despite this deceleration, robust double-digit growth is anticipated to persist in the coming years, driving the genAI market to a projected valuation of $100 billion by 2026, marking a substantial 65 per cent increase within a span of two years. Long-term forecasts extend to 2030, envisioning this figure more than doubling to surpass $207 billion.
On a global scale, the United States is expected to maintain its dominance as the largest genAI market, with a projected value of $37.3 billion by 2026, reflecting a 60 per cent increase from the current year. Meanwhile, China's genAI market is forecasted to witness even more rapid growth, with its valuation soaring by 72 per cent to $14.7 billion within the next two years, solidifying its position as the second-largest market worldwide.