On November 30, 2022, OpenAI launched ChatGPT, a conversational AI model that quickly revolutionized business and technology, becoming the top app on Apple’s charts. This surge has spurred a wave of generative AI products and raised compelling questions about its influence, with experts like Karen Hao claiming OpenAI now rivals national powers. The societal impact is profound, as discussed by Charlie Warzel, who highlights a precarious job market for graduates and the uncertainty faced by older generations. While there are optimists betting on an AI-driven future, concerns about a potential market bubble persist, especially within Big Tech stocks. Notably, Nvidia has soared 979% since ChatGPT’s debut, while the top seven companies account for 35% of the S&P 500. Despite skepticism surrounding AI sustainability, industry leaders suggest that while individual firms may falter, AI’s transformative potential for the economy remains significant.
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