2 Chatbot Stocks Set to Explode in 2023
Generative artificial intelligence (AI) exploded in popularity lately, especially after the launch of Microsoft-backed (NASDAQ: MSFT) OpenAI's ChatGPT chatbot in November 2022. It became a sensation thanks to its ability to crack jokes, write poems and essays, and create articles based on user requests.
ChatGPT already received an estimated 672 million visits since its debut, according to website traffic analytics provider SimilarWeb. What's more, the chatbot reportedly controls 92% of total website traffic already, driven by a 36x increase in the number of visits since its launch. Not surprisingly, Microsoft and OpenAI are set to capitalize on this nascent opportunity that's expected to multiply big time in the long run. Let's see how.
ChatGPT's exploding popularity puts Microsoft in a solid position in the generative AI market that's expected to expand from just $10 billion in annual revenue in 2022 to over $200 billion in 2032, clocking a compound annual growth rate of over 34%. The good part is that Microsoft and OpenAI have already started making moves to monetize the ChatGPT chatbot.
Source Fool.com
