When ChatGPT was introduced to the general public, the public embraced the tools and it is the fastest growing consumer application ever and boasts over 1.5 billion monthly visits or is one of the to 20 websites in the world. The issue for the average investor was how was the company using AI to become better – productivity, analytics and better companies?

In an article by Yiwen Lu of the New York Times News Service, we are starting to see and understand how companies are using ChatGPT.

Mark Austin is the VP of data science at AT&T, the company noticed the developers were using ChatGPT, he switched to more secure version from Microsoft called Azure Open AI Services. This service allows businesses build their own artificial intelligence powered chatbots. AT&T started using it and their internal service is called Ask AT&T. Developers are using it as well as customer service representatives to summarize their calls. Productivity has increased by 20 to 50%.

Generative AI can produce its own text, photos, and video in response to prompts, capabilities that hep automate tasks such as taking minutes and cut down on paperwork.

Companies such as Amazon, Box, and Cisco have unveiled plans for generative AI powered products that produce code, analyze documents and summarize meetings. Salesforce, Slack and Oracle have announced new products.

Microsoft invested $13 billion in Open AI, the maker of ChatGPT. In January, the cloud based service of Microsoft Azure made the service available to customers who then access OpenAI to build their own version of ChatGPT. 4,500 customers are using the service.

The cost for the service charged by Salesforce is $360,000 annually with the cost rising depending on usage. Microsoft charges based on the version of OpenAI technology charges as well as usage fees.

Panasonic Connect, part of the Japanese electronics company Panasonic began using OpenAI to make its own chatbot and usage has grown to at 5,000 questions a day.

Linking to dividend paying stocks, the profitable companies have the ability to use the latest technology and they do. It is one of the many reasons, they tend to retain their leadership position and ability to generate profits. Last year at the AGMs people were asking how are you using AI, next year will what levels of productivity and profitability did the company make with the new tools? As an investor you expect the company to be current, but more than current ensuring it can and is profitable.

There are more questions than answers, till the next time – to raising questions.