Genies has also been organising unofficial ChatGPT workshops for employees.
Artificial intelligence has been rapidly evolving over the last few months, especially since the launch of ChatGPT. OpenAI's chatbot is being widely used with users asking it to write essays, speeches and even solve exam questions. There are fears that AI will take away millions of jobs and many tech entrepreneurs, including Elon Musk, have raised a voice against its spread. But Akash Nigam, the CEO of start-up Genies, has opted to spend $2,400 (Rs 1.96 lakh) a month on ChatGPT Plus subscriptions for every employee at the company, according to Insider.
Since March, Mr Nigam has pushed all the departments of his company -Engineering, Product, Finance, Design, R&D and Accounting - to familiarise themselves with ChatGPT to increase productivity, the outlet further said.
"I'm a pretty frugal, stingy person. But in my mind, this is for the health and growth of the company," he told Insider.
Mr Nigam said he has already seen many tasks get accelerated after all 120 employees of his company started using the AI system.
Genies' various departments use ChatGPT to make day-to-day tasks easy. The R&D group, for example, has used the AI-powered chatbot to solve math and coding problems and create presentation scripts. The staff members have also used it to brainstorm ideas for projects, draft legal documents like corporate regulations, and research technological issues.
Genies has also been organising unofficial workshops where employees who are pro in using ChatGPT teach their less experienced colleagues how to use AI to complete various tasks.
While there are concerns around the rapid spread of AI, a recent research funded by Stanford University and Massachusetts Institute of Technology found that 14 per cent of employees who used ChatGPT in their workflow saw an increase in productivity.
The study also found that the least experienced and least skilled workers were able to complete tasks 35 per cent faster.