2 months ago 1 min read

Monetize AI Tools And Broaden Its Influence In Fintech, OpenAI Teams Up With Stripe

open ai-dall e-ai-chatgpt

OpenAI has declared that it will collaborate with Stripe Inc. to make it easier to monetize its ChatGPT and Dall-E artificial intelligence (AI) technologies. The firm launched the latest version of its technology, GPT-4, this week. Payment billing, checkout, automation, and tax compliance technology will all be offered by Stripe.

As previously reported by OpenAI, Stripe is testing if it can aid in the fight against fraud while Morgan Stanley employs GPT-4 to organize data. Additional clients include the Icelandic government, Khan Academy, and language-learning business Duolingo Inc.

According to Greg Brockman, president and co-founder of OpenAI, the updated version is more effective at locating particular data in a corporate earnings report or giving an explanation of a specific section of the US federal tax code. Using "complex businaess legalese," he described, GPT-4 can search for a resolution.

After the considerable public interest in its chatbot, OpenAI first introduced its $20 per month premium subscription offering in February. According to Stripe's chief technical officer, David Singleton, the company would keep a small portion of the sales that pass through its systems. Through the cooperation, Stripe will incorporate OpenAI's cutting-edge technology into its goods and services. Also, Stripe is presently testing 14 pieces of GPT infrastructure.

The agreement with OpenAI is encouraging for Stripe, which in January reduced its internal valuation by 11% to $63 billion amid a general decline in the fintech sector. Both businesses will be able to take use of one another's knowledge and grow their respective consumer bases thanks to the relationship.

The GPT-4 technology from OpenAI has been gaining traction since it has already caught the interest of several significant corporations. As it grows its clientele and product offerings, the agreement with Stripe will further its efforts to monetise its capabilities. OpenAI's GPT-4 technology is well-positioned to meet the expanding needs of companies and individuals wishing to take use of the power of AI as a result of the rising demand for AI-driven products.

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