How a single error by Google’s AI chatbot Bard cost Alphabet $100 billion in market capitalization
Google lost $100b: Alphabet Inc., Google’s parent firm, has lost $100 billion in market value. After its new artificial intelligence chatbot ‘Bard‘ provides incorrect information in a promotional campaign. Alphabet shares fell as high as 9% during Wednesday’s trading session.
However, it increased marginally to settle 7.68% down. This reduction in share value occurred when Reuters reported an inaccuracy in Google’s marketing promoting their new chatbot Bard. On Monday, the chatbot made its formal debut.
After OpenAI debuted ChatGPT in November, the business has been putting a lot of effort towards the release of “Bard.” Microsoft is supporting the company known as OpenAI. Since its introduction, ChatGPT, a chatbot powered by artificial intelligence, has caught the IT world by storm thanks to its replies that resemble those of a person.
Google’s AI Chatbot “Bard” Makes Factual Error in Ad Campaign
The James Webb Space Telescope did not, in fact, take “the very first photograph of a planet beyond our solar system,” as stated in the commercial Google issued on Monday praising its new AI chatbot, Bard. Instead, the achievement was done 17 years prior to the JWST’s debut.
After realizing this error, the business emphasized the thorough testing it has in place for Bard, which will begin this week. The shares of Alphabet, however, fell by 8% yesterday, the largest in over three months, as a result of that and a hastily planned event (which took place the day after Microsoft dazzled with its beefed-up Bing).
Additionally, a Google representative stated
“We’ll combine external feedback with our own internal testing to make sure Bard’s responses meet a high bar for quality, safety and groundedness in real-world information.”
A new version of Microsoft’s Bing search engine will also be released, the company also said on Tuesday. using the same technology as ChatGPT to support user search queries