Google introduced its new AI chatbot, Bard, with high hopes, but the bot caused a significant loss for the company.
Competition with OpenAI’s ChatGPT
During a live-streamed event, Bard was asked to explain new discoveries from the James Webb Space Telescope to a 9-year-old. The AI provided two correct answers, but made a significant error by claiming that the James Webb Space Telescope was the first to take images of exoplanets.
This error caused Alphabet Inc., the parent company of Google, to see a loss of $100 billion in market value and a decline in shares by as much as 9%.
Investors are Questioning Google’s AI Chatbot Industry Leadership with ChatGPT’s Sustained Popularity
Investors are concerned about Google’s ability to keep up in the AI chatbot industry with the sustained popularity of OpenAI’s ChatGPT. The Microsoft-backed chatbot acquired 100 million users just two months after its launch, generating substantial excitement. When asked the same question about the James Webb Space Telescope’s discoveries, ChatGPT provided a more correct and creative response.
It is expected that Google will improve Bard in the future to provide clearer and more accurate answers, but it remains to be seen whether the company will focus on artificial intelligence-centered answers and potentially move away from the search business.
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In conclusion, Google’s AI chatbot, Bard, caused a significant loss for the company after providing an incorrect answer during a live-streamed event. The error raised concerns about Google’s ability to compete with OpenAI’s ChatGPT, which has already acquired 100 million users. While it is expected that Google will improve Bard in the future, it remains to be seen whether the company will turn its focus to AI-centered answers and potentially move away from the search business.
The technology industry is highly volatile, and this latest incident serves as a reminder of the importance of precision and accuracy in the field of artificial intelligence. The future of AI and its impact on businesses and the world as a whole remains a thrilling and unpredictable journey, full of twists and turns, leaving us all on the edge of our seats.