Enterprise Startups Race to Cash In on ChatGPT Mania [Video]

Enterprise software startups are racing to put the technology popularized by OpenAI’s viral ChatGPT chatbot to use in business software applications, hoping to leverage market buzz over the tool’s humanlike language abilities to grab the attention of corporate technology leaders and investors.

Venture-capital investors worldwide last year put $1.3 billion over 78 deals into startups developing generative AI software, the technology underlying ChatGPT and other language-recognition applications, according to market analytics firm PitchBook Data Inc. That is close to the total amount of capital invested in similar startups over the previous five years combined—and came amid a broader slowdown in deal making, the firm said.