> So, what exactly has generative AI actually done? Where are the products?
The product is ChatGPT, actually.
If LLMs are a bubble, then you should expect most of OpenAI's revenue to come from its API (which is used by startups which have raised money to do "magic AI stuff", and the bubble would pop when investors would stop giving the money). But according to https://futuresearch.ai/openai-revenue-report, revenue from the API accounts only for 15%, the other 85% being the different subscriptions offers, including 55% of ChatGTP Plus subscriptions -- that is, _direct consumers_.
This doesn't prove that it isn't a bubble (the consumers could realize it's useless and then leave some time later), but it makes it less likely IMO.
The product is ChatGPT, actually.
If LLMs are a bubble, then you should expect most of OpenAI's revenue to come from its API (which is used by startups which have raised money to do "magic AI stuff", and the bubble would pop when investors would stop giving the money). But according to https://futuresearch.ai/openai-revenue-report, revenue from the API accounts only for 15%, the other 85% being the different subscriptions offers, including 55% of ChatGTP Plus subscriptions -- that is, _direct consumers_.
This doesn't prove that it isn't a bubble (the consumers could realize it's useless and then leave some time later), but it makes it less likely IMO.