Shock to the system! ChatGPT revenue jumps, but gets beaten by other AI apps

ChatGPT continues to dominate the market despite facing competition from Google’s Bard and Microsoft’s Bing. But surprisingly, it is not the one which brings in the most revenue!

| Updated on: Oct 31 2023, 10:53 IST
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OpenAI’s ChatGPT is the market leader in the AI chatbot industry but does not earn the most money. (Pixabay)

ChatGPT took the world by storm when it launched in November 2022. The generative artificial intelligence (AI) powered chatbot gave people a glimpse of its ability by fulfilling tasks such as answering queries and generating complex content in a matter of seconds. What can take employees hours and days, it managed to finish in minutes. Since then, the AI chatbot has grown by leaps and bounds, with additional features such as Code Interpreter, DALL.E integration, and multi-modal capabilities. And even as it faces stiff competition from other chatbots such as Google's Bard and Microsoft's Bing, ChatGPT continues to dominate and has grabbed a huge market share. But surprisingly, it is not the one which brings in the most revenue!

ChatGPT revenue

Referencing a report by Apptopia, TechCrunch reported that despite being a market leader in the AI chatbot race, ChatGPT is beaten by a couple of apps in terms of revenue on the mobile platform. In September, consumer spending on ChatGPT amounted to almost $1.98 million. On the other hand, two apps, Chat & Ask AI and ChatOn — AI Chat Bot Assistant, have beaten it with $3.38 million and $2.11 million respectively in September. However, ChatGPT could get back on top again as consumer spending reached $2.39 million as of October 24.

OpenAI's chatbot is closely followed by AI Chatbot: AI Chat Smith which pulled in $1.72 million and AI Chatbot — Nova with $1.44 million in revenue.

Not just AI chatbots, but other AI-powered apps such as photo editing apps are also giving ChatGPT a run for its money. As per the report, a photo editing app called Remini reached a massive 16.17 downloads last month. Other photo editing apps in the race include PicsArt AI Photo Editor, FaceApp, Wonder — AI Art Generator, and Facetune AI Photo/Video Editor.

Growing downloads

While the AI chatbot was launched in November 2022, it was only in May this year that OpenAI launched its mobile app version. Initially rolled out on iOS only, the ChatGPT app had almost 15.1 million downloads by June, as per the report. Since then, it has gone from strength to strength, and the latest figures indicate that it has crossed 23 million downloads as of September. With the app also being available on Android now, ChatGPT has reached 38.88 million active monthly users.

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First Published Date: 31 Oct, 10:53 IST