According to analytics company Similarweb, OpenAI's ChatGPT, the enormously popular artificial intelligence chatbot debuted in November, saw monthly website traffic fall for the third consecutive month in August. However, there are hints the dip is ending.

The number of visitors to the ChatGPT website from desktop and mobile devices worldwide fell by 3.2 percent to 1.43 billion in August, following 10 percent declines in each of the two preceding months.

Since March, the average amount of time users spend on the website has been dropping each month, from 8.7 minutes in March to seven minutes in August.

However, from 180 million users in August, there were 180.5 million unique visitors from throughout the world.

The start of the new school year in September may boost ChatGPT usage and traffic, and some schools have already started using it. In August, US ChatGPT traffic increased marginally as a result of American schools starting back up.

Two months after its inception, ChatGPT sparked a frenzy in the use of generative AI for routine tasks ranging from editing to coding and reached 100 million monthly active users in January. Generative AI uses historical data to produce new material, such as articles or poems.

It was the fastest-growing consumer application ever before Meta's Threads launch and is currently among the top 30 websites on the planet.

This year saw the launch of a number of ChatGPT rivals, including Google's Bard chatbot. A chatbot powered by OpenAI is also offered without charge by Microsoft's Bing search engine.

In May, OpenAI also made the ChatGPT iOS app available, which would have reduced visits to its website. Although ChatGPT is free to use, a premium subscription is available for $20 per month.

In addition to ChatGPT, OpenAI generates revenue through selling developers and businesses direct access to its AI models as well as through a collaboration with Microsoft, which contributed more than $10 billion to the company.