Alphabet Falls Most in 3 Months on Chatbot Accuracy Concerns
This article from Bloomberg may be of interest to subscribers. Here is a section:
The scrutiny comes as the battle to build the most accurate and effective search engine is escalating. On Monday, Google introduced Bard, whose underlying technology will eventually be built into Google.com. The next day, Microsoft Corp. said it was integrating a cousin of ChatGPT into Bing. On Wednesday, Google hosted a news conference in Paris where it shared more details about the company’s progress integrating artificial intelligence into search.
“The general sentiment is that ChatGPT and the Microsoft Bing announcement have created a narrative that Google’s search business model is under threat,” said Mark Riedl, a professor at the Georgia Institute of Technology.
The market reaction to Bard’s inadequacies was both swift and severe. The downward dynamic experienced by Google shares demonstrates how fickle the mob can be during a momentum move driven by hope rather than earnings.Click HERE to subscribe to Fuller Treacy Money Back to top