Spurred Battle Between Google and Microsoft Continues
After recent headlines of Google’s testing of their new ChatGPT competitor, Bard, Microsoft has been able to provide a response in great fashion. Rather than making a statement about their new foe, Microsoft decided to show shareholders exactly how their product would introduce itself in this newfound market. Bing, Microsoft’s pre-existing, and inferior competitor to Google’s search engine, will now implement features of ChatGPT AI software, the first of its kind in accordance with a popular search engine. Just debuting at a company-wide event on Tuesday, Microsoft’s new Bing and Edge platforms will be the first recognizable step in their multibillion-dollar partnership with Elon Musk-backed software company OpenAI. Aside from answering specific questions, Bing’s ChatGPT-powered software will be able to summarize webpages, recount recent news stories, help write emails, curate social media posts, and so much more. They will even offer a DALL-E 2 service, which would be able to generate unique, one-of-a-kind images for any creative person to use free of copyright restrictions. Currently, the chance to utilize these tools will be made to the public soon, however, those that are interested could apply for their current preview waitlist.
With the limits seeming endless, search engine leader Google may have a difficult time reproducing its own comparable software. Currently, Google holds the majority of the global search engine market share, at an astonishing 93%. As a large innovator themself, Google was prompted to create its own AI assistant, named Bard, which has already spurred its own controversy. Just a day after Microsoft’s own event, Google debuted Bard at a Paris conference, however, the public didn’t seem too pleased with the results. Not only did the event not provide any clearer guidance on their competition to ChatGPT, but Bard had provided automated answers that were incorrect; the reaction from shareholders was adverse, sending the stock to plummet by around 8%, which roughly correlated to $100 billion in market cap. Regardless, although it seems Google may need more time to perfect its AI software, it will be fascinating to see if Google can hold its own, or if Microsoft and OpenAI can capture a large chunk of Google’s 93% market share.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.