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OpenAI Introduces ChatGPT Enterprise for Businesses

OpenAI Introduces ChatGPT Enterprise for Businesses

Ivana Shteriova Ivana Shteriova
OpenAI recently launched a business version of ChatGPT. The company announced more features in development, including customizing ChatGPT with company data, role-specific tools for different industries, and more advanced versions of some of the current tools.

ChatGPT Enterprise has similar capabilities to its famous predecessor, including generating written content and debugging code. The main difference is that Enterprise users can enjoy “enterprise-grade security” and “customer prompts and company data are not used for training OpenAI models.” Given that ChatGPT has a history of leaking user data, the enhanced security should persuade enterprises that ChatGPT is safe to use.

GPT-4, the technology that powers ChatGPT Plus, is also the system behind ChatGPT Enterprise. Enterprise users will receive priority and unlimited access to GPT-4. According to the company, the new version performs “up to two times faster.” It also boasts an expanded context window of approximately 25,000 words.

ChatGPT Enterprise comes with a new admin console that enables businesses to control employee access. Additionally, users get unlimited access to Advanced Data Analysis, a feature previously known as Code Interpreter and only exclusive to ChatGPT Plus subscribers. Advanced Data Analysis analyzes different types of data to generate insights in seconds.

Other features include sharable conversation templates that enable team members to create workflows for repeated use. OpenAI also provides free credits for API access to Enterprise users who want to customize the chatbot to their unique business needs.

While ChatGPT took the entire world by storm since its launch in late 2022, OpenAI reported only $30 million in revenue that year, which is insignificant compared to the $700,000 it spends a day. With investors pressuring OpenAI to monetize the chatbot, the company is betting on ChatGPT Enterprise to boost profits. CEO Sam Altman reportedly promised investors that OpenAI will reach $200 million in revenue this year and $1 billion by 2024.

Results from analytics company Similarweb aren’t in favor of Altman’s optimism. Its research shows interest in ChatGPT is declining, with a 9.7% drop in traffic and an 8.5% drop in time spent on the web app between May and June. The decline could be due to people using the chatbot through the mobile app that launched in May. But ChatGPT could also be losing users due to increased competition.

Ivana Shteriova
Ivana Shteriova
Ivana is a full-time content writer and expert reviewer passionate about tech, finance, business, and too many other things to name. After getting her bachelor’s degree in Economics, she decided to ditch a career in accounting and turn her passion into a full-time writing affair. You can find her listening to finance podcasts, reading self-help books, glamming up, and rocking bold outfits. She’s also advocating for animal welfare and women’s rights.

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