ai-training-costs-continue-to-plummet

High AI training costs have been a significant barrier to AI adoption, preventing many companies from implementing AI technology. According to a 2017 Forrester Consulting Report, 48% of companies highlighted high technology costs as one of the primary reasons for not implementing AI-driven solutions. However, recent developments have shown that AI training costs are rapidly declining, and this trend is expected to continue in the future. According to the ARK Invest Big Ideas 2023 report, training costs of a large language model similar to GPT-3 level performance have plummeted from $4.6 million in 2020 to $450,000 in 2022, a decline of 70% per year. Let's explore this trend of declining AI training costs further and discuss the factors contributing to this decline.