OpenAI is planning to release major updates to entice developers during its upcoming event on November 6, as reported by Reuters.
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OpenAI to Introduce New Developer Tools for AI
OpenAI is planning to unveil a cheaper and faster way to build software applications based on its AI models. According to the report, the company is adding a memory story to its developer tools which could potentially decrease the cost for application makers by almost 20 times.
The new tools are also reportedly capable of allowing developers to build applications that can analyze images and describe them. This could be a potential popular feature in the field of entertainment and medicine. OpenAI hopes that these new features will establish the company's ambition to expand beyond consumer sensation and become a hit developer platform.
These new features are rumored to be introduced at OpenAI's first-ever developer conference in San Francisco this November 6. The main goal of the said event is to attract developers to choose OpenAI's technology in building their AI-powered chatbots and autonomous agents. OpenAI has declined to confirm anything for now.
OpenAI's Future Plans
Recently, there has been a growing concern for OpenAI's partners as the cost of using it could rapidly stack up as they work on building a sustainable business by developing and selling AI software. There is no doubt that having a powerful AI is an expensive venture for companies.
OpenAI is looking forward to close the year with a $200 million revenue and $1 billion by 2024. In order to succeed in its goal, OpenAI is willingly working to give releases that would satisfy the developers to the point that they will pay an access to its model.
The year 2023 became the hottest year for AI innovations with investors pouring out over $20 billion on various AI startups, most of which rely on OpenAI or other foundation model company's technology, as per PitchBook's data.
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