Google AI “BARD’ falls behind OpenAI’s ChatGPT. Alphabet’s market value took a $100 billion hit on Wednesday. The dip came after the chatbot, Bard, shared inaccurate information in a promotional video and a company event failed to impress. Investors are now worried that Google is losing ground to rival Microsoft.
Shares of Alphabet slipped 9% during regular trading and were flat in after-hours trading. Microsoft shares rose 3% and were also flat after hours.
Reuters was first to report an error in Google’s advertisement for Bard, which debuted on Monday. The error was about which satellite took the first pictures of a planet outside the Earth’s solar system.
OpenAI, backed by Microsoft with $10 billion, introduced software in November that has wowed consumers with its accurate and well-written answers. This has raised questions about Google’s AI innovation.
Google’s presentation on Wednesday did not include details on how and when Bard would integrate into its core search function. Meanwhile, Microsoft had already released to the public a version of its Bing search with ChatGPT functions integrated.
Bard’s error was discovered just before the presentation, causing concern that Google was scrambling to catch up on Search. Gil Luria, a senior software analyst, said Google has fallen behind on implementing AI into its search product.
Alphabet posted a video of Bard in action via Twitter, but the chatbot delivered an inaccurate answer. Google is starting its Trusted Tester program this week to make sure Bard’s responses meet high standards for quality, safety and real-world information.
Alphabet is coming off a disappointing fourth quarter as advertisers cut spending. The company is trying to keep pace with OpenAI and its rivals by bringing in founders Sergey Brin and Larry Page to accelerate its efforts.
ChatGPT software has created excitement in tech firms after job cuts and promises to cut back on moonshot projects. AI-driven search could provide results in plain language, making browsing faster and more efficient. However, chatbot AI systems carry risks for corporations, such as biases in algorithms that can skew results.
Google unveiled its new AI-powered search and map features, but its promotion failed to impress. A mistake in its chatbot Bard’s promotional video sparked worries that Alphabet, Google’s parent company, is losing ground to rival Microsoft. Microsoft released a version of its Bing search integrated with ChatGPT functions.
Bard’s mistake was discovered just before Google’s presentation and shares fell as much as 9%. Google promised to improve Bard with its Trusted Tester program, combining external feedback with internal testing. However, the importance of a rigorous testing process was highlighted.
Alphabet is facing competition from Microsoft, who is backing OpenAI with around $10 billion. This has resulted in Alphabet bringing in founders Sergey Brin and Larry Page to speed up its efforts. Despite concerns, King Lip, chief strategist at Baker Avenue Wealth Management, believes Bing is still far from Google’s search capabilities.
AI-driven search is appealing as it can produce results in plain language, making browsing faster and more efficient. However, chatbot AI systems carry risks for corporations such as biases in algorithms and inaccurate information. Microsoft’s 2016 chatbot on Twitter quickly generated racist content, while an AI used by CNET produced factually incorrect or plagiarized stories.
The race to bring AI technology to users is on between Google and Microsoft, two of the tech industry’s fiercest competitors. The announcements show how companies are scrambling to capitalize on the wave of AI.
Google and Microsoft are racing to roll out tools using AI that can generate content and capitalize on a wave of interest in the technology. The two tech giants are fierce competitors, with back-to-back announcements showing how companies are scrambling to bring a new generation of AI to users.
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