A software program or tool that is designed to automatically summarize long texts or documents, extracting the main points and key information.
Summarizing tools are platforms that use AI to summarize text in a document. Interest in this product category is increasing (up 3233% over the last five years) largely due to a startup called QuillBot.
(Searches for “Quillbot” have increased by 553% over the last 24 months.)
QuillBot’s tools are used by over 5 million people every month, which has helped them raise $4.2M in funding.
Summarizing tools are part of the AI Writing meta trend.
Searches for “AI writing tool” have increased by 4400% over the last 24 months.
And this trend is likely to see even more growth since the new GPT-4 model has become available.
GPT-4 has around 100 trillion parameters (parameters are to the GPT model what neurons are to the human brain), a 500X increase over GPT-3.
Here are two examples of trending AI writing tools:
- Writesonic is a writing assistant designed for marketers. The tool can write content in 24 languages.
- Rytr is an AI writing assistant tailored toward copywriters. The tool has over 5.5M users.