OpenAI has unveiled ChatGPT Enterprise, a business-focused iteration of its AI-powered chatbot, aiming to capitalize on the widespread success of ChatGPT.

This enterprise version offers the same capabilities as the consumer model, including tasks like drafting emails and coding assistance. Additionally, it provides "enterprise-grade" privacy, data analysis features, enhanced performance, and customization options.

ChatGPT Enterprise also removes usage caps and offers up to twice the speed of previous versions. A significant upgrade is the inclusion of a 32k context, allowing the processing of inputs or files 4x longer. 

Companies like Block, Canva, Carlyle, The Estée Lauder Companies, PwC, and Zapier have already leveraged ChatGPT Enterprise.

Analysts QuickTake: The launch places ChatGPT Enterprise in direct competition with Microsoft's Bing Chat Enterprise, offering similar features tailored for business use. While ChatGPT's popularity has soared, it indicated a slight decline in traffic and usage time recently, possibly influenced by OpenAI's mobile app launch and seasonal factors. OpenAI's financial pressures are evident, as the tool's development reportedly cost over USD 540 million in 2022, while it generated only USD 30 million in revenue. To address this, OpenAI aims to reach USD 200 million in revenue this year and USD 1 billion next year, with ChatGPT Enterprise likely playing a pivotal role in this strategy.