#37: ChatSpot from HubSpot, Generative AI Market Deep Dive, and ChatGPT and Whisper APIs

This week’s episode of The Marketing AI Show touches on generative AI, and you guessed it, ChatGPT. But it’s not more of the same. APIs and HubSpot take ChatGPT to the next level. Tune in! ChatSpot…the latest in ChatGPT The week is starting off with a big development. Just yesterday, Monday, March 6, HubSpot co-founder and CTO Dharmesh Shah released ChatSpot, an AI tool that combines the power of ChatGPT, image generation AI, and HubSpot’s CRM. The tool lets you ask questions of your HubSpot portal and provide instructions in natural language through a chat interface. For example, you can use ChatSpot to give you a summary of data in your portal, create a report of companies added last quarter summarized by country, or generate an image of an orange rocket ship. Mike and Paul break down this latest development and what it means for HubSpot customers and agencies. The biggest winners generative AI tech stack…so far Legendary venture capital firm Andreessen Horowitz published a deep dive into the generative AI market: “Who Owns the Generative AI Platform?” To create this, the firm met with dozens of startup founders and operators who deal directly with generative AI to better understand where the value in this market will accrue. Andreessen breaks down the generative AI tech stack into three main categories: Infrastructure - the cloud platforms and chips used to train models Models - the foundational models like GPT-3 that power generative AI tools Apps - the actual products like Jasper that customers use  Andreessen observed that infrastructure vendors are likely the biggest winners in this market so far, capturing the majority of dollars flowing through the stack. Application companies are growing topline revenues very quickly but often struggle with retention, product differentiation, and gross margins. And most model providers, though responsible for the very existence of this market, haven’t yet achieved a large commercial scale. Bottom line: the companies creating the most value — i.e. training generative AI models and applying them in new apps — haven’t captured most of it. APIs are available for ChatGPT and Whisper We knew it would happen soon: developers can now integrate ChatGPT and Whisper, OpenAI’s human-level speech recognition system, into apps and products through the company’s API. Since December, OpenAI says it has reduced the cost of ChatGPT by 90%—savings that API users will now receive when they use it, making it much easier and cheaper for companies to incorporate the capabilities of ChatGPT and Whisper into their businesses. However, this doesn’t just mean every business can have its own instance of ChatGPT. It means they can use these capabilities to build innovative new products. And tech and e-commerce companies are here for it. Already, Snap, the creator of Snapchat, introduced My AI, a customizable on-platform chatbot that is built on the ChatGPT API. Instacart is using the ChatGPT API to pair ChatGPT with its own data so that customers can ask open-ended natural language questions. And Speak is an AI language learning app and the fastest-growing English app in South Korea. They’re using the Whisper API to power an AI-speaking companion product. It’s impressive to see the API in action. These advancements and developments—happening at lightning speed—have an immediate impact on the marketing world. Paul and Mike help us uncover new opportunities and possibilities. Listen to this week’s episode on your favorite podcast player, and be sure to explore the links below for more thoughts and perspectives on these important topics.