Elon Musk, the CEO of Twitter and founder of several other high-profile technology companies such as SpaceX and Tesla, has announced plans to develop a new generative artificial intelligence (AI) platform to rival the likes of OpenAI’s ChatGPT and Google’s Bard. Musk has named the platform “TruthGPT” and has described it as a “maximum truth-seeking AI that tries to understand the nature of the universe.” In an interview with Fox News Channel’s Tucker Carlson, Musk stated that he sees TruthGPT as a third option to the “two heavyweights” currently dominating the generative AI market.
Musk’s announcement confirms earlier reports from The Information and the Financial Times, which stated that he was building a team of AI researchers and engineers to develop a rival to ChatGPT. The reports also stated that Musk was in talks with various investors in his other ventures, such as SpaceX and Tesla, about pumping capital into his new AI start-up. He has reportedly ordered “thousands of high-powered GPU chips” from Nvidia, which are necessary for building generative AI’s large language models.
Generative AI has the potential to produce various kinds of data, such as audio, code, images, text, simulations, 3D objects, and videos. The global generative AI market is expected to reach $188.62 billion by 2032, growing at an annual rate of more than 36 per cent from $8.65 billion last year, according to Brainy Insights. Investors have poured in more than $4.2 billion through 215 deals into generative AI start-ups in 2021 and 2022 after interest spiked in 2019.
Musk’s entry into the generative AI market could have a significant impact, as it could drive a 7 per cent increase in the global economy, or almost $7 trillion, and lift productivity growth by 1.5 percentage points over a 10-year period, according to Goldman Sachs estimates. However, it remains to be seen what specific plans Musk has for TruthGPT and how it will stack up against established players in the market.
About Author
