ChatGPT is the latest to take the world of AI

ChatGPT is the latest to take the world of AI

The first iPhone came out in June 2007 and now 84% of Americans have a smartphone, and many can't imagine a world without them.

Apple Inc. AAPL didn't make the first smartphone, but it was the device that catapulted the technology to its modern-day success, selling millions of units and becoming a worldwide talking point. The last 16 years computers have gotten smaller, faster and can do just about anything while sitting in the palm of one's hand.

The capabilities of artificial intelligence AI are quickly being brought to the forefront thanks to the release of ChatGPT. The release of ChatGPT may have been the iPhone moment for the world of AI. It is replacing and improving jobs and is already a household name, as it is reshaping school curriculums and policy. ChatGPT isn't the first company to do what it is doing, but it is what is taking the world of AI mainstream.

Venture capitalists are taking notice and dumping billions into AI startups. When VCs start funding certain sectors, mainstream adoption comes shortly after. In the past few years, the adoption of cryptocurrencies saw billions in non-fungible NFT sales volume, hundreds of new games and thousands of new cryptocurrencies. In 2022, in line with an overall decline in VC funding, it was $21.5 billion.

Retail investors have been investing large amounts in AI startups.

RAD AI is a startup raising funds on Wefunder, which means anyone can invest for a limited time. More than 2,400 retail investors have invested over 2.5 million in RAD. On its Wefunder page, RAD says it is the world's first AI marketing platform built to understand emotion and is used by some of the largest companies in the world.

There are currently more than nine AI startups on StartEngine, with some of them being WeatherFlow-Tempest raising over $800,000 and WiGl raising over $2.37 million.

MaxTracker is a startup raising money on StartEngine and has raised $54,000 for its tracker that uses AI to distinguish between events. It uses AI to distinguish between a car being broken into vs. hit with a soccer ball, or a bike being stolen vs. being knocked down.

As the industry and funding ramp up, it is likely that this is only the beginning of what AI has to offer.

More on the startup investing from Benzinga can be found here.