Key Points

  • Google has announced a new artificial intelligence (AI) chatbot called Bard.
  • Bard will be integrated into various Google products, such as Google Assistant and Google Home.
  • The announcement of Bard followed Microsoft’s own AI event showcasing new AI technologies for its search engine, Bing.
  • Despite the excitement surrounding Bard, shares of Google’s parent company, Alphabet, fell more than 8% following the announcement.
  • Despite challenges, including high development costs and regulatory and ethical implications, Google remains confident in its push into AI and is well-positioned for future advancements in the field.

Google and its parent company Alphabet have long been known for their cutting-edge technology and innovative products.

However, the recent announcement of Google’s new AI chatbot, Bard, and its subsequent impact on Alphabet’s stock price has raised questions about the current state of AI technology and its future in the market.

Bard, which was officially unveiled by Google on Monday, is a conversational AI system that will be integrated into various Google products, such as Google Assistant and Google Home. The technology is designed to improve users’ experience by providing a more natural and human-like interaction.

Image Description

Google Last Announcement

Google’s announcement of Bard comes just one day after Microsoft hosted its own AI event, showcasing its new AI technologies for its search engine, Bing. The timing of these events has sparked speculation about a potential AI arms race between the tech giants, with each trying to outdo the other in terms of innovation and capabilities.

However, despite the excitement surrounding Bard and Google’s push into AI, the company’s shares took a significant hit, falling over 8% on Wednesday. This drop in stock price can be attributed to a number of factors, including investor skepticism about the practicality and potential profits of the technology.

Image Description

The Investors Concerns about AI

One concern for investors is the level of investment required to develop and integrate AI systems like Bard into existing products.

AI technology is known for being resource-intensive, and the high costs associated with its development and implementation have been a major barrier to entry for many companies.

Furthermore, there are also concerns about the regulatory and ethical implications of AI technology. As AI systems become more advanced, there are growing concerns about their potential impact on employment and the ethical use of data.

Despite these challenges, Google remains confident in its push into AI. The company has a long history of innovation and investment in new technologies, and it is likely that it will continue to lead the way in AI development.

In addition, Google’s recent acquisition of DeepMind, a leading AI research firm, has positioned the company well for future advancements in the field. The acquisition has given Google access to a talented pool of AI experts and cutting-edge research, which will be crucial in the development of AI systems like Bard.

About Alphabet Inc.

  • Ticker GOOG
  • Exchange NASDAQ
  • Sector Communication Services
  • Industry Internet Content & Information
  • Shares Outstandng 6,086,000,128
  • Market Cap $948B
  • Description
  • Alphabet Inc. provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Dri...
More about GOOG