Important Takeaways
- Bain and OpenAI are strengthening their collaboration to develop AI solutions tailored to particular industries.
- With ChatGPT Enterprise, Bain’s 13,000 consultants are now aiming for 50% of their revenue from AI.
- With more than a million business customers, OpenAI intends to grow its enterprise product line.
In order to provide cutting-edge AI solutions to a range of businesses, OpenAI has extended its collaboration with consulting company Bain & Company.
As of August 2024, Bain’s 13,000 consultants are utilizing ChatGPT Enterprise, which was first formed in 2023.
According to a press release from the company, the expanded partnership is focused on creating AI solutions that are particular to the retail and life sciences industries. The goal is to develop AI solutions that go above the norm, catering to the particular requirements of sectors looking for useful applications to boost corporate performance.
Christophe De Vusser, Worldwide Managing Partner at Bain, noted that many businesses have progressed past the experimental stage of AI and are now concentrating on utilizing these tools to produce quantifiable commercial results.
About fifty Bain employees are taking part in this initiative, De Vusser confirmed to the Wall Street Journal. However, OpenAI has not revealed how many of its employees are involved in this initiative, and the partnership’s financial specifics are also under wraps.
Currently, 30% of Bain’s revenue comes from its technology and AI services; in the upcoming years, the company anticipates this percentage to rise to 50%.
The alliance between OpenAI and Bain is a component of the company’s broader plan to increase the scope of its enterprise products. According to the company, ChatGPT Enterprise and its educational component, ChatGPT Edu, have over a million paying commercial clients. Compared to 600,000 business customers earlier in the year, this number has increased dramatically.
OpenAI just raised $6.6 billion and reached a valuation of $157 billion, despite internal changes and leadership changes. With 350 team members devoted to partnerships, sales, and technical support for its commercial clients, the company currently employs over 1,700 people.
