When OpenAI quietly announced on November 30, 2022, that it had released “a model called ChatGPT which interacts in a conversational way,” few could have predicted the seismic impact that simple statement would foreshadow.

Three years later, it is no exaggeration to say that ChatGPT fundamentally reshaped the technology landscape, triggered an unprecedented AI boom, and pushed the world into a new era of opportunity, uncertainty, and upheaval.

The tool remains a cultural and commercial phenomenon, still ranking No. 1 on Apple’s free app charts—and continues to influence global debates about work, geopolitics, and the future of human creativity.

ChatGPT’s launch ignited a wave of generative AI products that now span nearly every industry, from finance, software, and medicine to education, media, and entertainment.
For some, this represents progress. For others, disruption. But for almost everyone, it has changed expectations of what software can do.

Author Karen Hao, in her book Empire of AI, said OpenAI has “already grown more powerful than pretty much any nation-state in the world” and is “rewiring our geopolitics, all of our lives.”

That influence reaches from boardrooms to classrooms and from Silicon Valley to national governments grappling with AI regulation.

In The Atlantic, columnist Charlie Warzel argued that we now live in “the world ChatGPT built”, defined by “precarity” and a persistent sense of waiting – waiting for the next disruption, the next breakthrough, or the next shock.

He notes that young people are graduating into a labour market that may no longer reward traditional skill-building, while older professionals worry about the relevance of careers built over decades.

Even AI’s strongest supporters, Warzel writes, are waiting, waiting to see if their investments pay off and waiting for AI to evolve, since “a defining feature of generative AI is that it is never in its final form.”

The economic impact has been equally dramatic.
According to a Bloomberg analysis, no company has benefited more from the AI surge than Nvidia, whose stock has surged an extraordinary 979% since ChatGPT’s release.

But Nvidia is only one pillar in a much larger AI-fuelled expansion. The seven most valuable publicly traded companies – Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta and Broadcom – now collectively account for nearly half of the S&P 500’s 64% rise over the past three years.

This dominance has made the index more “top-heavy” than at any point in its history. These seven companies represent 35% of its total weight, up from about 20% in 2022.

Even inside the AI industry, there is broad agreement that the current investment frenzy may be unsustainable.

“Someone is going to lose a phenomenal amount of money in AI,” OpenAI CEO Sam Altman warned at a dinner with journalists in August.

Bret Taylor, CEO of Sierra and chair of OpenAI’s board, says plainly: “We are in a bubble.” He likened the moment to the dot-com boom of the late 1990s, an era that produced huge failures but also gave birth to the modern internet economy.

“AI will transform the economy,” Taylor said. “Like the internet, it will create enormous economic value in the future. But there will be casualties along the way.”

As generative AI becomes more deeply embedded in global systems, from healthcare diagnostics to corporate strategy, from education platforms to government infrastructure, the world is still grappling with what comes next.

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