Google-parent stock drops on fears it could lose search market share to AI-powered rivals. Google has begun rolling out its ChatGPT rival, while experts warn that AI could pose an ‘extinction’ risk for humanity if not used responsibly.
Impact on Businesses and Society
Pichai expressed his belief that these AI tools will ultimately have broad impacts on businesses, professions, and society.
He noted that this technology is still in its early days and has the potential to profoundly affect every product across every company.
Related Developments
Google has begun rolling out its ChatGPT rival, which could further exacerbate fears of losing search market share.
Experts warn that AI could pose an “extinction” risk for humanity if not used responsibly.
Impact on Businesses and Society
He described AI as a “very profound technology” that will affect every product across every company, and emphasized that they are still in the early days of this technology.
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Background
Google’s search engine has dominated the market for two decades.
However, the viral success of ChatGPT, an AI-powered chatbot that can generate compelling written responses, has put Google on defense for the first time in years.
Article Summary
Google’s parent company Alphabet saw its shares drop by 7.7% after the release of a demo for their Bard AI tool, which provided an inaccurate response to a question about a telescope.
Search Engine Competition
The viral success of ChatGPT, an AI chatbot developed by OpenAI, has put Google on defense for the first time in years.
The competition from AI-powered search engines is becoming increasingly intense, with Microsoft’s Bing AI demo also being called out for several errors.
Google’s Response
Google has been using AI for years to improve the quality of their search results and offer new ways to search.
However, they have acknowledged that there are risks associated with AI tools, including hallucinations and providing inaccurate information.
CEO Sundar Pichai’s Statement
In an interview with 60 Minutes, Google and Alphabet CEO Sundar Pichai stressed the need for companies to be responsible in each step along the way as they build and release AI tools.
He emphasized the importance of allowing time for user feedback and developing robust safety layers before deploying more capable models.
Google’s Response
In a statement sent to CNN, Google spokesperson Lara Levin said the company has been using AI for years to improve search results and offer new ways to search.
Google has rolled out features such as image-searching by combining images and words.
Levin emphasized that Google has used AI in a responsible and helpful way, maintaining the high bar for delivering quality information.
Market Reaction
Shares of Google’s parent company Alphabet fell 7.7% on the day ChatGPT was demoed, wiping $100 billion off its market value.
Industry Concerns
Microsoft’s Bing AI demo was also called out for errors, including an apparent failure to differentiate between types of vacuums and made-up information about certain products.
Experts warn that these mistakes can have serious consequences, particularly in the context of search engines where users rely on accurate and reliable information.
CEO Sundar Pichai’s Perspective
In an interview with 60 Minutes, Google and Alphabet CEO Sundar Pichai stressed the need for companies to be responsible when building and releasing AI tools.
