The Use of GenAI Technology in Programming Is Profitable
Although generative AI is still in its infancy, it has apparently shown its worth in powering coding assistance rather quickly. According to a Financial Times story published on Friday, August 23, GitHub Copilot, an AI coding helper owned by Microsoft, has attracted around 2 million paying customers since its inception in 2022 and has helped GitHub's income rise by 45% year over year. GitHub CEO Thomas Dohmke stated in the article, "We found very quickly that GPT-3, OpenAI's first big model, was so good at creating code that we could develop a solution around this." The study claims that AI assistants for creating and modifying code have also been developed by Amazon, Meta, and Google. In this space, a number of startups are also in competition: Replit, Anysphere, Magic, Augment, Supermaven, and Poolside AI. According to the study, these companies have raised $906 million since January 2023, including $433 million thus far in 2024. According to a 2023 McKinsey estim...