ChatGPT Number of Users & Market Size Statistics(Sep 2023)

Interesting ChatGPT Facts & Statistics

ChatGPT, unlike other AI chatbots, provides a human-like feedback response. It can challenge incorrect premises, answer follow-up questions, recognize limitations and errors, and reject inappropriate requests.

ChatGPT was created in addition to GPT-3.5 by OpenAI, an improved version of GPT 3. The GPT 3.5 is an autoregressive language model that generates human-like text using deep learning.

ChatGPT is a transformer-based language model that was trained on a huge database of text data to perform natural language processing tasks. These natural language processing (NLP) tasks include high-accuracy question answering, text summarization, and language translation.

There are currently over 200 million ChatGPT monthly active users worldwide. OpenAI’s chatbot is expected to reach 514 million users by 2024.

The OpenAI technology is considered the platform with the fastest-growing user base. It reached over one million users five days after its November 30, 2022 launch. To compare, the second-fastest platform to reach a million users was Instagram, which took 2.5 months to achieve.

*Note: Figure is an estimate using linear regression analysis based on data from BusinessofApps and CNBC.

Based on current ChatGPT statistics, estimates show that by 2024, the number of monthly ChatGPT users will balloon to 514 billion users, a staggering 801% user growth compared to 2023.

Reports indicate that ChatGPT reached over 100 million users two months after its launch, breaking TikTok’s record of 9 months. It reached its first million users in just merely five days since it was released to the public, a feat accomplished by then-record-holder Instagram in 2.5 months.

ChatGPT is regarded as a watershed moment in the widespread adoption of artificial intelligence. It continues to grow and innovate with its API, which is simple enough for users to understand and can automate basic programming, data entry, and many other things.

According to ChatGPT statistics, the tool receives around 10 million daily queries.

OpenAI’s ChatGPT generated 1.8 billion visits in a month. This is 12% higher compared to the previous month’s visits. The platform ranked 16th in the world’s most popular websites this month, which is 82 points higher compared to its rank in December 2022. This is indicative that the application is gaining traction all over the world.

Around 63.42% of ChatGPT users are aged 18 to 34 years old, which means that the adoption of the AI application is leaning heavily toward younger adults. Around 61.52% of users are male, while 38.48% are female.

According to Similarweb, the average ChatGPT user spends 5 minutes and 21 seconds on the website.

The United States was the top country sending desktop traffic to ChatGPT’s website in 2023, accounting for 15.32% of the total audience. It is followed by India (6.32%), Japan (3.97%), Colombia (3.28%), and Canada (2.74%). The rest of the world accounts for 68.36% of visits.

ChatGPT is reportedly valued at US$ 30 billion in 2023, more than doubling the OpenAI valuation of $14 billion in 2021.

According to reports, ChatGPT’s most recent pitch to investors shows a revenue projection of around $200 million in 2023 and $1 billion by 2024.

According to ChatGPT statistics, the chatbot market worldwide was valued at US $6,311.7 million in 2023, with a compound annual growth rate or CAGR of 23.3% projected from 2023 to 2030.

OpenAI released its ChatGPT Plus service on February 1, 2023. The company’s subscription plan is priced at US$ 20 a month and offers new features and priority access to its subscribers.

Many businesses in sales and customer service are able to minimize routine and mundane tasks using AI, cutting down approximately 35% of tasks done by an individual. AI is able to provide support businesses by automating tasks such as customer engagement, research compilation, and text translations.

However, there may be some risks for businesses, especially since OpenAI acknowledges the current limitations of ChatGPT and artificial intelligence in general, like the possibility of incorrect or biased information or privacy concerns.

The major implication of ChatGPT for market research is the further advancement of Conversational AI as a key methodology. It’s because ChatGPT can exemplify the quality of conversation that AI technology can have.

ChatGPT significantly impacts the education sector as it can automate learning goals and activities, as well as assessment and evaluation practices like essays or academic papers. However, this technology raises concerns that students may become overly reliant on ChatGPT for academic tasks.

This is why the paper “ChatGPT User Experience: Implications for Education” concludes that rather than using the tool to do something that students’ general skills can do, ChatGPT should only be used to assist students with subject-domain tasks where they can still use their creativity and critical thinking.

ChatGPT can automate traditional human functions like text revision, document creation, and code writing. With its massive increase in job completion speed and ability to generate written content that is useful in a variety of industries, it has the potential to make significant changes in several business sectors.

While there is the possibility of human-machine hybrid work wherein humans guide AIs for reduced errors, there is also the risk of people losing their jobs. This demonstrates how ChatGPT’s technology creates new systems with impacts on jobs and business models.