 | OpenAI changed the world with ChatGPT. The brand gained 100 million users in two months, it’s on track to reach one billion dollars in annual revenue, and it launched the artificial intelligence (AI) industry on a trajectory to reach $1.8 trillion in market value by 2030. According to Google Trends data, global consumer interest in ChatGPT even surpassed interest in AI shortly after the software launched. But somehow OpenAI doesn't seem to be in the top 100 most valuable brands of 2023? This year the top 100 most valuable brands were ranked but unfortunately, OpenAI did not make the cut. It seems they may have been a bit too late with their 100 billion dollar valuation, but will 2024 see differently? OpenAI is after all the second fastest-growing startup behind SpaceX and will be expected to make exponential growth this year. Heck, even last year they saw exponential growth with Chat-GPT's free 3.5 model destroying a majority of its competition. P.S. If you love this AI stuff just like me, I write all about the latest AI developments in my newsletter. Anyways, this graphic shows the world’s 100 most valuable brands in 2023 based on an annual ranking from Brand Finance, illustrating the role brand equity plays in a company’s market position. For those of you wondering where this data came from it came from Brand Finance Global 500 Report. An important note to keep in mind is how these calculations were measured. The values shown above are brand value calculations as opposed to the market capitalization. Generally speaking, the methodology for calculating "brand value" is a formula that is as follows: Brand Strength (BSI) x Brand Royalty Rate x Brand Revenues = Brand Value Brand Strength Index (BSI) looks at brand investment, brand equity, and brand performance. The brand royalty rate is determined based on sector. Lastly, forecast brand-specific revenues are determined based on the proportion of parent company revenues attributable to the brand in question. Brand value itself is discounted to net present value. I recommend visiting page 83 of the report to view the full explanation of the methodology. As OpenAI and ChatGPT mature over the year of 2024 I would expect them to make it in the top 100 most valuable companies. They have already changed the world, enhancing tech drastically in such a short period of time. Let's see what OpenAI does this year to make the cut (hopefully). Oh and credit to Visual Capitalist for the graphic [link] [comments] |
Predictive technology: computational social science
