Price Of A Mistake Costs $100 Billion To The Parent Company Alphabet

Feb, 2023 - by CMI

Alphabet Inc., Google’s parent company, lost $100 billion in market worth.

The launch of Google’s latest AI chatbot, which will transform Google Search led in parent firm Alphabet losing $100 Bn in market value. Only a few days ago, Google debuted Bard, a rival to ChatGPT, whose announcement came at a high cost, costing its parent firm $100 Bn.

After Google revealed their AI chatbot Bard, share prices started to fall as investors worried that Google would lose search engine market share to rival Bing, owned by Microsoft. Notably, Google’s announcement for its Bard chatbot left out a release date, although Microsoft introduced its new Bing the day before, which is powered by an updated version of the technology.

Google’s announcement has been criticized as being hasty and reflexive response to Microsoft introducing ChatGPT in its search engine. To support this claim, Reuters revealed that a critical flaw included in Google’s Bard marketing materials. What fresh revelations from the James Webb Space Telescope (JWST) can I share with my 9 year old? was the query posted to Bard and the AI’s response, which is untrue, was that “JWST took the very first photograph of a planet outside of our own solar system.

NASA says on its website that the first photograph of an exoplanet, a planet outside our solar system, was made in 2004 by the Very Large Telescope of the European Southern Observatory. Notably, a Google representative addressed the problem and noted its occurrence emphasizes the need of a thorough testing procedure.

Microsoft and Google are competing to create and integrate the finest AI system into their search engines, and based on Microsoft’s pronouncements, Bing appears to be winning the race. Since Microsoft initiated the conversation, Google is getting ready to open the doors to the numerous AI projects, presently working on behind closed doors. However, based on what Google has accomplished thus far and the absence of a firm start date for public testing, it appears the organization is lagging behind Microsoft.