What is the difference between free ChatGPT and ChatGPT Plus?

Could you elaborate on the key differences between the free version of ChatGPT and the paid ChatGPT Plus subscription? I'm particularly interested in understanding what additional features or benefits ChatGPT Plus offers that the free version lacks. Does it provide faster response times, more detailed answers, or access to exclusive functionalities? I'd like to have a clear understanding of what sets these two options apart and why one might choose to upgrade to ChatGPT Plus.