ChatGPT became CEO of the company, recouped its investment in a week and could make a profit of €400,000 by the end of the year
While Italy has temporarily restricted the use of ChatGPT, in Portugal a chatbot has become the CEO of the company. The artificial intelligence was able to effectively manage the start-up and made it profitable in a week.
Here's What We Know
Portuguese Joao F. Santos created the startup and appointed ChatGPT as its CEO, while he himself became an assistant to the artificial intelligence. The engineer ran all of the neural network's tasks, devoting only 1 hour a day to the company. Moreover, he did everything ChatGPT said, even if those actions could harm the startup.
The neural network offered three lines of action. João F. Santos didn't want to get into services, so it was decided to trade T-shirts with images created by artificial intelligence. Specifically, Midjourney.
The company was named AIsthetic Apparel. It was suggested by artificial intelligence. The first word is a combination of "Artificial Intelligence (AI)" and "aesthetic". The logo was created using Midjourney's neural network.
The next step for the chatbot was to create a 10-point business plan. The artificial intelligence suggested creating an online shop and making an arrangement with Printful, which would print the images created by Midjourney. By the way, the picture descriptions for Midjourney were also compiled by the chatbot.
The neural network then set out to find investors. These were Martin Andreas Petersen, Frederik van Deurs and Vasco Conceição. João F. Santos said he was able to raise $2,500 in exchange for a 25% stake in the company. The amount of the initial investment was $1000.
The cost per T-shirt was €35. The artificial intelligence was able to earn over €10,000 in five days. At a cost of €4,000 AIsthetic Apparel was able to make €7,000 profit. If the sales momentum continues, profits will reach €40,000 by the end of the year. In addition, ChatGPT valued the startup at €4 million.
