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Home » News » Google-parent stock drops on fears it could lose search market share to AI-powered rivals

Google-parent stock drops on fears it could lose search market share to AI-powered rivals

Jessica BrownBy Jessica Brown World
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CNN
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The actions of the Alphabet Matrix of Google fell more than 3% in the first operations on Monday after a report caused Conerns that its main search engine could market participation in AI rivals, including Microsoft Bing.

Last month, Google employees learned that Samsung weighed that Bing the predetermined search engine on their devices is innovative of the Google search engine, which caused a “panic” within the company, according to a report by the New York Times, citing doctors and doctors. (CNN has not reviewed the material).

In an effort to address competition, it is said that Google is developing a new search engine with ai called “Magi” project, according to The Times. The company, which, according to the reports, has about 160 people who work in the project, aims to change the way the results appear in the search for Google and include a chat tool available to answer questions. The project is expected to be presented to the public next month, according to the report.

In a statement sent to CNN, Google spokeswoman Lara Levin said the company has been using AI for years to “improve the quality of our results” and “offer completely new ways to search”, even with a function launched in recent years.

“We have made it an answer and useful in the way that maintains the high bar that we establish to deliver quality information,” said Levin. “Not all ideas of rain of ideas or products lead to a launch, but as we have said before, we are excited to bring new functions with AI for search, and we will share more details soon.”

Samsung did not immediately respond to a request for comments.

Google’s search engine has dominated the market for two decades. But the viral success of Chatgpt, which can generate a written response convincing to the user’s instructions, seemed to put Google in defense for the first time in years.

In March, Google, opening access to Bard, its new AI Chatbot tool that competes directly with Chatgpt and promises to help users describe and write erasers, plan a friend’s baby shower and get lunch ideas based on what is in the refrigerator.

In an event in February, a Google executive also said that the company will bring “the magic of the generative AI” directly to its central search product and use artificial intelligence to pave the way for the “next border of our information products.”

Meanwhile, Microsoft has invested and has been associated with Openai, the company behind Chatgpt, to implement similar technology in Bing and other productivity tools. Other technological companies, including Meta, Baidu and IBM, as well as a large number of new companies, are running to develop and implement tools with AI.

But technological companies face risks to adopt this technology, which is known to make mistakes and “hallucinate answers.” That is particularly true when it comes to search engines, a product that many use to find precise and reliable information.

Google was called after a Bard demonstration had an inaccurate answer to a question about a telescope. The shares of the Google Alphabet parent company fell 7.7% that day, cleaning $ 100 billion of its market value.

Microsoft’s Bing Ai demonstration was also called for several errors, including an apparent failure to differentiate between the types of aspirations and even invented information about certain products.

In an interview with 60 minutes that were broadcast on Sunday, Google and the CEO of Alphabet, Sussian Pichai, emphasized the need for companies “to be responsible in each step on the road” as they build and launch AI tools.

For Google, he said that allowing time for “user comments” and making sure that the company “can develop more robust security layers before building, before implementing more capable models.”

It also expresses its belief that thesis tools will have a broad impact on companies, professions and society.

“This will affect each product in all companies and, therefore, I think it is a very, very deep technology,” he said. “And so, we are in the first days.”

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