Alphabet, the parent company of Google, was down 8% after today’s unveiling of new AI-powered features that will appear across the company’s products. Google announced an advanced Bard chatbot, AI search and other AI features just a day after Microsoft unveiled AI features for its Bing search engine and Edge browser.
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As part of the presentation, Google representatives showed several examples of the Bard algorithm in the Google search engine. For example, during the demo, the chatbot was asked to provide information about the pros and cons of buying an electric car, as well as help with planning a trip to Northern California. At the same time, Google has introduced new AI features for some of its other products, including a map service, translator, and the Lens app.
The Bard chatbot is based on the large language model Language Model for Dialogue Application (LaMDA). At this stage, the chatbot will become available to a limited number of “trusted users” as part of a closed testing program. After this process is completed, Google promises to make Bard public.
The drop in Alphabet’s share price indicates that investors were expecting more from Google’s presentation, especially amid intensifying competition from Microsoft. While Microsoft’s significant investment in AI algorithms is helping to increase competition from Google in the search engine market, analysts agree that it will take the software giant a long time to see any significant advances in this.
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