After a demonstration of its new artificial intelligence chatbot, Bard, sparked concerns that the tech giant has lost ground in the race for the future of internet search, Google owner Alphabet Inc. fell by the most in more than three months.
Since developer OpenAI launched its wildly popular chatbot, ChatGPT, which many in the tech industry claim to be the next generation of search, Google has been under pressure. Microsoft Corp., which is making billion-dollar investments in OpenAI, unveiled on Tuesday a new version of its Edge browser and Bing search engine that incorporates technology from the AI startup. Google provided additional information about its progress in integrating artificial intelligence into search at a news conference it held on Wednesday in Paris.
The demonstration largely disappointed investors. Bard was once asked about recent discoveries made by the James Webb Space Telescope. Bard claimed in one of its responses that the telescope was used to take the first images of a planet outside the solar system of Earth; however, NASA claims that a different telescope was used to take those images.
Bard is currently only available to a select few reputable testers, and OpenAI’s ChatGPT has also been found to provide outdated or incorrect responses. However, investors are very aware of any threat to Google’s search business, which is still the company’s main source of income.
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