The recent 9.7% downturn in traffic to ChatGPT's website and app during June, as reported by the Washington Post, is being viewed by some as a sign that the artificial intelligence (AI) bubble, popularized through the launch of ChatGPT, has peaked and is now receding after only six months. However, this interpretation could not be further from the truth.
AI's impact and potential extend far beyond the scope of ChatGPT, despite its recent sensation. In the distant future, when AI is ubiquitously adopted, the past six months with ChatGPT will be just a blip in our memory.
The reasons behind ChatGPT's overnight success are not entirely clear. AI technology has been brewing for over a decade, and its rise was evident much before the advent of ChatGPT on November 30th.
The ability of ChatGPT to generate both authentic and faux content with remarkable ease indeed attracted attention. It sparked both excitement and fear as it made clear the potential of AI to alter or replace various job roles, bringing AI out of the realm of theory into tangible reality.
However, ChatGPT was far from flawless. It often provided incorrect responses and filtered certain topics, among other issues. As the academic year came to a close, alternative uncensored tools emerged, and the initial novelty of ChatGPT began to fade, a decline in users is not surprising.
Crucially, content creation using AI is only a fraction of AI's potential influence. In essence, AI can infiltrate any field where intelligence is currently utilized, making it a game-changer.
Realizing this immense potential of AI will take time. Despite our familiarity with computers performing complex or humanly impossible tasks, they fundamentally lack human intelligence. They require far more data to learn, slowing the AI implementation process.
From the perspective of retailers and brands, the ebb in ChatGPT user numbers means little. The capabilities to increase your efficiency and service delivery will be dramatically boosted by AI advancements.
The time will come when AI can suggest consumer preferences based on sales data across diverse sectors. Retailers will have the power to determine what products to place where, at what price point. While these changes will occur behind the scenes, they are already being put into practice.
AI, like all technologies, has the potential for both benefit and harm. However, the downturn in ChatGPT usage is in no way indicative of AI's future. Pioneering technologies take time to develop, and the key task currently is to persevere. The initial surge and subsequent decline in ChatGPT usage bear no consequence to those building consumer-oriented businesses for the future.