ChatGPT is improving its service offerings and platform capabilities, aiming to launch the next version update later this year.
OpenAI is a pioneer of generative AI, but more players have come into the market with capabilities that can fade away its first-mover advantage. Sam Altmann’s tech giant is working on material improvements to tackle the incoming competition hike. The latest version, which may be called ChatGPT-5, will be released later this year.
The new version has been made available for internal testing, and the feedback has a common keyword in most of them: materially better. This could mean the capabilities have been enhanced with lower effort and better understanding. It could also mean that the platform is growing new capabilities, which will be limited to the GPT-5 version. This also happened earlier when OpenAI released GPT-4, which completely crushed the capabilities of its 3.5 version.
However, the company kept the 3.5 version free while charging a nominal fee for 4.0. A report by Business Insider cites two people who are familiar with the matter, saying that the new updated version might be released sometime in June of this year. Some businesses have already received the demo version of ChatGPT-5, which will allow them to compare its enhancements and provide client-end feedback.
OpenAI is demonstrating new capabilities through use cases and data unique to the companies, giving better insights into how the platform can benefit them. The company is also developing AI agents, a reforming concept that can perform certain tasks autonomously.
ChatGPT-5 is still under training, after which it will enter the internal safety testing phase. After completing the first two phases, the product will be red-teamed. This simply means multiple internal members and select outside users will challenge the platform to perform high-end tasks. The results will provide insights on improvement and a green signal for its public release.
The report mentioned that no timelines have been set for the next version. The team ensures best practices align with the latest global and local AI development regulations. Right now, the flagship version of ChatGPT is 4-Turbo, which was released in April 2023. The introduction of GPT-5 may further deepen the revenue stream from enterprises.
