In the dynamic world of artificial intelligence (AI), ChatGPT’s growth stagnates for the first time since its launch. The AI chatbot, developed by OpenAI, has seen a decrease in monthly visits for the first time since November 2022, according to SimilarWeb, an analysis platform.
The Meteoric Rise of ChatGPT
ChatGPT’s journey has been nothing short of extraordinary. From zero to more than 1.5 billion visits in March 2023, the platform has experienced exponential growth. By January 2023, it had already reached an estimated 100 million active users, making it one of the fastest-growing digital products ever.
The Slowdown in Growth
However, the growth trajectory of ChatGPT has slowed significantly since March 2023. For the first time, from May to June, it declined by about ten percent. The number of unique users fell by about six percent, and time spent on the platform also fell slightly, by 8.5 percent in May. The figure for June is not yet available.
What Does Declining Traffic Mean for OpenAI?
A decline in traffic does not necessarily translate into fewer users or less revenue for OpenAI. The key metric is the conversion rate, i.e., how many users interact with the service on a daily basis and become paying customers.
Moreover, the number of OpenAI’s B2B customers accessing the models via the API is likely to increase. Visits to the platform.openai.com developer site increased by 3.1 percent from May to June, according to SimilarWeb.
The Impact on Bing.com
Bing.com, which integrated ChatGPT into its search engine, has seen little benefit from the hype surrounding Bing Chat and OpenAI. Visits have declined since the hype peaked in February and March 2023, but are still slightly above November 2022 levels, before the launch of ChatGPT.
The Effect of ChatGPT Plugins on Growth
The release of ChatGPT plugins and web browsing in May, which were expected to elevate ChatGPT from a basic text generator to an ecosystem and potential Google killer, did not result in another major growth. The launch of GPT-4 in March also did not trigger significant growth.
OpenAI’s plugin launch has been somewhat underwhelming, with a plugin store without a search function and a user interface that offers little guidance on the benefits of the more than 400 plugins. The browsing feature is slow and unreliable, and OpenAI recently disabled it because people were using it to circumvent publishers’ paywalls.
The Future of ChatGPT
Chatbots, especially with plugins, are still in their infancy. The question is how far and how fast OpenAI can mature, and how the competition will take advantage of OpenAI’s breather. Despite the slowdown in growth, the traffic for such a young product is still exorbitantly high, indicating that ChatGPT still has a significant user base.
Conclusion
In conclusion, while ChatGPT’s growth stagnates for the first time since its launch, it’s important to remember that growth is not always linear. The platform still holds a significant position in the AI industry, and it will be interesting to see how OpenAI navigates this period of slowed growth and what strategies they implement to regain momentum.
FAQs
1. What is the recent trend in ChatGPT’s growth?
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ChatGPT has seen a decrease in monthly visits for the first time since November 2022, with growth slowing significantly since March 2023.
2. Does declining traffic mean fewer users or less revenue for OpenAI?
Not necessarily. The key metric is the conversion rate, i.e., how many users interact with the service on a daily basis and become paying customers.
3. How has the release of ChatGPT plugins affected its growth?
The release of ChatGPT plugins and web browsing, which were expected to elevate ChatGPT to an ecosystem and potential Google killer, did not result in another major growth.
4. What is the future of ChatGPT?
Chatbots, especially with plugins, are still in their infancy. It remains to be seen how quickly OpenAI can mature and how the competition will take advantage of OpenAI’s breather.
5. Despite the slowdown, is ChatGPT still a significant player in the AI industry?
Yes, despite the slowdown in growth, the traffic for such a young product is still exorbitantly high, indicating that ChatGPT still has a significant user base.
