OpenAI Plans Developer Conference as AI Use Grows

ChatGPT creator OpenAI said it will host “hundreds” of experts at its first developer conference this fall.

The artificial intelligence (AI) company’s “DevDay” is scheduled for Nov. 6 in San Francisco, OpenAI said in a Wednesday (Sept. 6) blog post.

“The one-day event will bring hundreds of developers from around the world together with the team at OpenAI to preview new tools and exchange ideas,” the post said. “In-person attendees will also be able to join breakout sessions led by members of OpenAI’s technical staff.”

The conference will come at the end of a year that has seen AI balloon in popularity in the wake of the rise of ChatGPT and other generative AI tools.

A report from Goldman Sachs Group strategists said AI stocks have strong fundamentals and valuations that are not excessive — the way tech bubbles have been in the past — with modern AI companies already profitable and generating cash.

And Citigroup strategists said they expect that the broad impacts of AI will be seen across businesses in two years, characterizing it as the stock market’s “new growth thing.”

In the past week, PYMNTS has reported on the use of the technology in everything from healthcare to trade to dating apps.

Meanwhile, PYMNTS Intelligence published Thursday (Sept. 7) noted the downside of the technology: its use in helping bad actors conduct phishing attacks, which have increased 150% per year since 2019, with more than 1.3 million recorded in the fourth quarter of last year.

“Generative AI programs like ChatGPT have made phishing not only more effective but also easier to conduct on a larger scale,” PYMNTS Intelligence found. “These programs can effectively replicate a natural writing style with minimal input from fraudsters, allowing them to generate and send persuasive phishing emails to thousands of victims every hour.”

But AI can also help businesses combat fraud. Many financial institutions have had success in using smart systems to fend off AI-powered schemes.

PYMNTS Intelligence found that companies that depend on legacy digital identity verification solutions lost above-average sales revenue to fraud at 4.5%, while businesses leveraging solutions powered by AI and machine learning (ML) saw their share of lost sales revenue shrink by 2.3%.

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