Bard ChatBot’s false ad caused Google’s market value to drop by $100 billion. The price of Alphabet’s shares dropped by 7% on Wednesday, resulting in a loss of $100 billion in market value for the corporation. Alphabet’s parent firm is Google. Following the setback, the company held an event to promote its new artificial intelligence chatbot, Bard. This occurred just one day after Microsoft had its presentation to demonstrate new AI capabilities.
At the event, which started in Paris and was aired live across many platforms, Google executives showcased some of Bard’s capabilities. The presentation showed how Bard might be used to portray the advantages and downsides of, say, acquiring an electric vehicle or arranging a trip to Northern California.
There is a chance that Google Bard’s advertising that provided incorrect information caused the stock price decrease, at least in part. For example, Google displayed an erroneous description of the telescope in their advertising. This telescope was used to take the first photographs of a planet outside of our solar system. Furthermore, it indicated that Bard might need to catch up to competitors such as ChatGPT and Microsoft Bing.
Alphabet published a little GIF video of Bard in action on Twitter, promising that it would assist in clarifying tough topics. However, the service ended up responding incorrectly.
In the ad, Bard is asked, "What new results from the James Webb Space Telescope (JWST) can I share with my nine-year-old child?"
In his answer, Bard offers many options, one of which is that the James Webb Space Telescope (JWST) was used to snap the first photographs of an extrasolar planet, also known as an exoplanet.
However, NASA has accepted that the European Southern Observatory’s Very Large Telescope (VLT) was responsible for capturing the first images of an extrasolar planet in 2004.
In reaction to the commercial, a Google spokesman said, “This highlights the necessity for a rigorous testing system, which we’re implementing this week with our Trusted Tester programme.” We will combine feedback from outside sources with our internal testing to guarantee Bard’s responses meet high quality, safety, and foundation in real-world information.
Google, based in Mountain View, California, was the corporation that caught Bard’s error just in time for the presentation. “While Google has been a pioneer in AI research for many years, they looked to have fallen asleep on putting this technology into their search engine,” Gil Luria, senior software analyst at D.A. Davidson, said of Bard’s failure. Because Google has been racing against the clock recently to catch up on Search, the company’s announcement from the day before (Tuesday) had to be produced quickly, and they made the embarrassing error of providing the wrong answer during their presentation.
Microsoft had its artificial intelligence event one day before Google at its headquarters in Redmond, Washington. The main emphasis of Microsoft’s presentation was a demonstration of the company’s newest AI-powered advancements to its Edge browser and Bing search engine.
Bard is powered by the massive LaMDA language model, which stands for Language Model for Dialogue Applications. The presentation also highlighted how AI had been incorporated into several other Google products, including Google Maps and Google Lens, which enables users to search for images using their mobile device’s camera.
The drop in the price of Alphabet shares during the event implies that investors expected more from the firm in light of Microsoft’s mounting rivalry.
Even though these advances put more pressure on Google search, some industry experts think it will be some time before Microsoft sees any substantial benefits from its recent investments in artificial intelligence (AI). “Search improvements will serve as a tailwind to [advertising revenue in the long run], but it will take time to bring users back to Bing, and they will need a crowbar to pry advertisers away from Google,” a Jefferies analyst wrote a note released on Tuesday. When it comes to Microsoft’s artificial intelligence capabilities, these breakthroughs are only the tip of the iceberg, with the most significant potential being in business use cases.
The experts believe Google’s artificial intelligence technology is “at least as good” as its rivals’.
This should help the company retain its market position over time by capitalising on its years of AI investment (which almost doubled CapEx in 2018) and unparalleled scale.
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