Google’s Redefined AI
With the rising popularity of new AI technologies such as Chat-GPT, investors began to worry Google’s largest revenue stream, Google Search, was under threat to be disrupted and lost as an incumbent. Since this mass worry, Google has made strides throughout the year to release their own AI software to attach to not only Search, but several other areas in the Google ecosystem. On Wednesday, Google had the opportunity to shed some light on these new developments during their annual developer conference hosted in the heart of Silicon Valley. With a large focus on artificial intelligence implementations, Google presented a myriad of innovations such as their new PaLM 2 language model, AI writing tools for Gmail, Search AI integrations, and AI tools into Google Workspace.
To compete with Microsoft’s Chat-GPT implementations in Bing’s Search platform, Google announced their project nicknamed “Converse”, which will use generative software to optimize search for its users. Along with this, their new tools will not only be able to work alongside Gmail, Docs, and Slides, but be able to create entire documents, presentations, and spreadsheets using their new PaLM 2 adaptive language model. Aside from all the progress announced in the artificial intelligence domain, Google also presented online successes such as their folding Pixel and a budget smartphone and tablet. The overall achievement of the conference led Google’s stock to rise 4.1% throughout the day, with a year-to-date increase of over 25%.
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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.