Inflection's implosion and ChatGPT's stall reveal AI's consumer problem [Business Insider]
Similarweb Ltd. Ordinary Shares (SMWB)
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Source: Business Insider
ChatGPT web growth has stalled. There's a shift toward enterprise business models in AI. Last year, Garry Tan , one of the most successful tech investors in Silicon Valley, questioned the business case for consumer-facing AI technology like ChatGPT "Personally I am short chat interface and long on SaaS and Enterprise implementations that use LLMs," he tweeted back in July. Less than a year later, his concerns are coming true. This week, startup Inflection AI partially imploded. The startup's two main founders decamped to Microsoft , taking a sizable team with them. Inflection raised more than $1 billion last year at a $4 billion valuation, with backers including Bill Gates, Eric Schmidt, and Nvidia. Inflection's main product was Pi an AI chatbot for consumers that provided emotional support and advice. The startup is now "exiting its Pi consumer chatbot effort," according to Bloomberg, less than a year after it launched What remains of the startup is pivoting to try an
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