Three years after ChatGPT

AI: the next transformative technology

- WILSON SY

Three years ago, on Nov. 30, 2022, OpenAI quietly launched ChatGPT to the world. What followed was unprecedented in tech history. It reached an estimated 100 million users in just two months, making it the fastest-growing consumer application in history. This milestone outpaced TikTok (nine months), Instagram (2.5 years) and Facebook (4.5 years). More importantly, it sparked a global AI frenzy that reshaped corporate strategy and triggered a multi-trillion-dollar equity rally.

The timing couldn't have been more fortuitous. ChatGPT coincided with the tail end of 2022's brutal bear market. The S&P 500 and Nasdaq 100 had just crashed 27 percent and 38 percent, respectively. After ChatGPT's launch, AI quickly became the dominant market story. Investors bet that AI would be the next transformative technology rivaling the internet and iPhone. Since then, the S&P 500 has climbed nearly 70 percent while the Nasdaq 100 has rocketed over 110 percent.

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