• Skip to main content
  • Skip to primary sidebar

Biz Builder Mike

You can't sail Today's boat on Yesterdays wind - Michael Noel

  • Tokenomics is not Economics – Digital CX -The Digital Transformation
  • Resume / CV – Michael Noel
  • Contact Us
  • Featured
You are here: Home / entrepreneur / Alphabet shares fall sharply after Google’s AI chatbot debut stumbles

Feb 08 2023

Alphabet shares fall sharply after Google’s AI chatbot debut stumbles

Shares of Google parent Alphabet closed almost 8 per cent lower on Wednesday, wiping billions of dollars off its market value, as Wall Street digested the potential damage to its search dominance and profits from a new artificial intelligence battle with Microsoft.

The knock to its stock price came as a result of a glitch in a Google AI demonstration, highlighting the challenges the company faces in bringing a new style of chat-based search to a mass market.

It came the day after Microsoft unveiled a new version of its Bing search engine that incorporated AI advances including summarising answers to search queries and generating emails and lists. In an interview with the Financial Times, Microsoft chief executive Satya Nadella made clear his company was prepared to use the new technology to drive down profits in search and that gross margin was “going to drop forever”.

“There is such margin in search, which for us is incremental. For Google it’s not, they have to defend it all,” he added, referring to the competition against Google as “asymmetric”.

On Monday Google said it would launch its own chatbot named Bard in an attempt to make up ground lost to rival ChatGPT, though it has not said when the service will be made public.

Experts pointed out that Bard had made a factual error in the first video demo of the product online. An animation shared by Google showed Bard answering a question about new discoveries made through the James Webb Space Telescope, saying it “took the very first pictures of a planet outside of our own solar system”.

Astronomers said this was incorrect, highlighting a larger issue with search powered by AI known as large language models: that they can confidently make factual mistakes and spread misinformation. One astronomer pointed out the problem could stem from AI misinterpreting “ambiguous Nasa press releases that underplayed past history”.

The glitch highlighted a common flaw with so-called generative AI systems such as Bard, which do not “understand” the information they regurgitate but make guesses based on probability. Microsoft admitted to similar challenges with its chat-based service.

During an event in Paris on Wednesday, Google senior vice-president Prabhakar Raghavan announced new search features that represented minor updates to the group’s search engine, in contrast to the sweeping changes it had said would come within “weeks”. The changes included new image-based search and interactive 3D models of some cities including London and Los Angeles.

Google has been scrambling to catch up with embedding AI technologies into its consumer products since the recent launch of ChatGPT, which provides text answers to complex questions directly rather than requiring the use of a traditional search engine.

Google reported that its advertising revenue dropped 4 per cent in the final quarter of last year, marking only the second quarterly contraction in its history.

[mailpoet_form id="1"]

Alphabet shares fall sharply after Google’s AI chatbot debut stumbles Republished from Source https://www.ft.com/content/2fe6163b-b4c3-413e-b595-8110e328b42d via https://www.ft.com/companies/technology?format=rss

Written by Madhumita Murgia and Richard Waters · Categorized: entrepreneur, Technology · Tagged: entrepreneur, Technology

Primary Sidebar

https://youtu.be/Qvad1CQ9WOM

Blockchain Weekly Rebooted –

During the Blockchain Spring 2016 to 2020 I hosted Blockchain Weekly. Each week I interviewed someone who was doing interesting things in the blockchain space. At one time we had 29k subscribers and we were consistently getting over 15k views a week on the channel. All of that went away during the lockdown, including the Gmail address that controlled that channel. Recently, I found some of the original videos on some old hard drives. So I’m reposting a few of the relevant ones while I am starting to shoot new Blockchain Weekly Episodes to be aired 1st quarter 2023. Please subscribe to bless the You Tube Algorithm, and allow me to let you know about any updates! Our Sponsor – https://BlockchainConsultants.io

The Utah State Legislature has approved a new law, the Utah Decentralized Autonomous Organizations Act, providing legal recognition and limited liability to decentralized autonomous organizations (DAOs). This legislation, also known as the “Utah LLDs,” was passed after the combined efforts of the Digital Innovation Taskforce and the Utah Blockchain Legislature. The Utah DAO Act defines […]

Search Here

Market Insights

  • FTX Founder Allegedly Sought Federal Regulation Before Collapse
  • DeFi Hack Linked to North Korea
  • US Banking Crisis Fuels Regulation Debate
  • HSBC approves multi-million-pound bonuses for Silicon Valley Bank UK staff
  • Swiss regulators consider UBS takeover of Credit Suisse to prevent collapse
  • Mid-Size Banks Ask for Deposit Insurance Extension
  • Former Coinbase CTO Bets $1 Million on Bitcoin Reaching $1 Million in 90 Days
  • Binance Responds to U.S. Senators Letter, Excludes Financial Data
  • Crypto Entrepreneur Bail Package Revised
  • DeFi Hacker Returns $5.4M to Euler Finance

Tags

Advanced materials (1) AI (259) andrewchen (4) Biz Builder Mike (28) Blockchain (834) Crowd Funding (69) crowdfundinsider (2) entrepreneur (969) eonetwork (43) Front Page Featured (33) MIT AI (89) startupmindset (146) Technology (676) virtual reality (1) youngupstarts (100)
  • Twitter
  • Facebook
  • About Us
  • LinkedIn
  • ANTI-SPAM POLICY
  • Google+
  • API Terms and Conditions
  • RSS
  • Archive Page
  • Biz Builder Mike is all about New World Marketing
  • Cryptocurrency Exchange
  • Digital Millennium Copyright Act (DMCA) Notice
  • DMCA Safe Harbor Explained: Why Your Website Needs a DMCA/Copyright Policy
  • Marketing? Well, how hard can that be?
  • Michael Noel
  • Michael Noel CBP
  • Noels Law of decentralization

Copyright © 2023 · Altitude Pro on Genesis Framework · WordPress · Log in