To gain a comprehensive understanding of the environment in which ChatGPT was introduced, a thorough examination was carried out by AF on the leading third-party ChatGPT applications, namely Genie, Ask AI, and Chat AI. The main objective of this investigation was to monitor the weekly revenue generated by these applications, both before and after the introduction of ChatGPT. It is crucial to highlight that this evaluation exclusively pertains to ChatGPT not being presently accessible on the Android platform, limiting its availability to the App Store.
Before ChatGPT was officially launched in early May, the three apps in question were generating an estimated weekly revenue of $92,000, $511,000, and $805,000. These numbers indicate the net revenue, which signifies the amount of earnings developers retained after Apple's share was subtracted.
Ask AI emerges as the frontrunner in the AI app market, showcasing impressive revenue figures. It is important to bear in mind that these figures represent weekly earnings, highlighting the competitiveness of all three apps in the market. Upon its release, ChatGPT made a notable entrance by generating a respectable $164,000 in its inaugural week. Notably, the rival apps maintained a relatively steady performance during this period. However, the subsequent week witnessed a substantial increase in ChatGPT's net revenue, surpassing the previous figures and reaching an impressive $446,000. In contrast, competitors experienced a decline in their revenue, although the magnitude of the decrease varied. Ask AI observed a minor decrease in earnings, whereas Genie encountered a more significant
drop in its revenue stream.
As time passed, the rate of ChatGPT's expansion started to decelerate. The initial enthusiasm waned, resulting in intriguing changes in the figures observed in the final week.
The revenue of Ask AI showed a significant increase, reaching $847,000, signifying its ability to withstand challenges and maintain a trajectory of growth. Conversely, Genie faced a decline in revenue even prior to the launch of ChatGPT, and this trend persisted in the following weeks, with its revenue plummeting to $296,000. Chat AI experienced a slight rise, reaching $98,000, while ChatGPT's revenue stabilized at $278,000.
After carefully examining the extensive data available, it becomes clear that third-party apps remain relevant and have not become outdated. The general public has not fully connected ChatGPT's official app with the considerable excitement surrounding the remarkable functionalities of the mobile application ChatGPT. This paradox is clearly evident when observing the revenue figures.
Except for Genie, which had been experiencing a decline in performance even before ChatGPT entered the scene, the market for AI apps remains on a steady growth trajectory. This reiterates a previous observation that, despite the remarkable capabilities of ChatGPT, there is still a lack of familiarity among users regarding its effective utilization. As a result, emphasis should be placed on the development of innovative tools that harness the full potential of ChatGPT, rather than solely relying on the capabilities of ChatGPT itself.
In summary, the release of ChatGPT's official app has not rendered third-party apps obsolete. These apps continue to demonstrate resilience and maintain growth in the face of ChatGPT's entry into the market. The true potential of ChatGPT lies in its integration into innovative tools that leverage its capabilities, ultimately expanding its reach and impact on users' experiences.
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by Ayesha Hasnain via Digital Information World
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