ChatGPT's soaring popularity may have made the AI program the fastest growing app of all time.
ChatGPT is set to exceed the growth TikTok saw when it first launched, according to analysts at investment firm UBS, Reuters reports. “ChatGPT had 57M MAUs (monthly active daily users) in December and January shows no slowdown,” UBS says in a report it shared with PCMag.
“Data on [daily active users] suggests the site will surpass 100M MAUs in January, a massive achievement in such a short period of time. In 20 years following the internet space, we cannot recall a faster ramp in a consumer internet app,” the report adds.
For perspective, it took TikTok about 9 months after its global launch to add 100 million users and Instagram 2.5 years to do the same, according to UBS. The report adds that ChatGPT saw about 13 million unique visitors per day in January, double the amount from December, according to the investment firm’s estimates.
The growth is good news for Microsoft. Last month, the tech giant announced plans to pour billions more into ChatGPT’s creator OpenAI to commercialize the AI technologies. So expect more powerful versions of ChatGPT to arrive for the Bing search engine and Microsoft Office.
The rise of ChatGPT, which is free, also puts pressure on Google’s search engine. ChatGPT has shown it's adept at answering questions on a variety of topics, although the accuracy can vary. In addition, it can write essays, fix computer code, and spruce up resumes, cover letters, and marketing pitches. As a result, the program is sparking questions over whether ChatGPT and future AI programs will not only replace Google, but also supplant white-collar work.
UBS expects Google to respond by prioritizing its own AI programs, but the effort won’t be without risks. “Google is in a catch-22, where it either (1) fails to impress, feeding questions around competitive position or (2) it overcommits, causing concern around (i) monetization risk and (ii) margin erosion,” the report says.
In the meantime, the surge in growth for ChatGPT has been making it harder for free users to access the program. During times of high traffic, OpenAI will be forced to cut off access. In response, the company is rolling out a paid version called ChatGPT Plus, which can offer uninterrupted access, for $20 per month.