Will Google Lose its Search Engine Dominance Due to ChatGPT Rise

Will the giant tech Google lose its search engine dominance due to the rise of ChatGPT

Mountain View, California, near the bay, is one of the largest profit pools in business history. The site is the home of Google, whose search engine has been humanity's preferred front door to the internet—and advertisers preferred front door to humanity—for the past two decades. In this article, we have discussed how google loses its search engine dominance due to the ChatGPT rise abruptly. To learn more about google lose its search engine dominance due to the rise of ChatGPT continue reading this article.

Every second of every day, Google processes approximately 100,000 web searches and, thanks to its clever algorithm, returns uncannily relevant results. Because of this, Google has become a verb. It also creates billions of daily opportunities to sell ads alongside searchers' queries. The accuracy of the results keeps users coming back and competitors at bay: all other search engines combined account for less than a tenth of daily searchers.

Experts predict that the type of factual error that hampered the launch of Google's AI-powered chatbot will continue to plague companies. It does to the companies that use the technology as the market value of its parent company continues to fall.

Alphabet shares fell 4.4% to $95 on Thursday, representing a loss of about $163 billion (£140 billion) in market value since Wednesday, when shareholders wiped out about $106 billion from the stock.

Shareholders were alarmed after it was revealed that a video demo of Google's rival to Microsoft's ChatGPT chatbot contained an incorrect response to a question about Nasa's James Webb space telescope. The animation depicted a response from the programme, dubbed Bard, claiming that the JWST took the first pictures of a planet outside of the solar system," prompting astronomers to point out that this was not the case.

Google stated that the error highlighted the importance of the "rigorous testing" that Bard is undergoing before it is made available to the general public in the coming weeks. On Wednesday, a presentation of Google's AI-powered search plans failed to reassure shareholders.

Microsoft, a major backer of ChatGPT's developer OpenAI, announced this week that the chatbot's technology would be integrated into its Bing search engine. Google also intends to incorporate Bard's technology into its search engine.

An analyst Dan Ives, at US financial services firm Wedbush Securities, described Wednesday's gaffe as "a dark day for Google which was exacerbated by Microsoft's solid ChatGPT day". "We believe it's a black eye to rush a demo and have it show mistakes in such a key AI event," he added.

Charalampos Pissouros, a senior investment analyst at the brokerage XM, said Bard's incorrect answer during Google's promotional video was "adding to concerns that the firm is losing ground against rival Microsoft". Despite the drops on Wednesday and Thursday, Alphabet remains a sizable company with a market capitalisation of more than $1.2 trillion.

According to the data firm SimilarWeb, Google has about 90% of the global search market compared to Bing's 3%, but Microsoft has told investors that every percentage point increase in the market share equates to nearly about $2 billion in additional advertising revenue.

Bard and ChatGPT are built on large language models, which are a type of artificial neural network that are fed massive amounts of text from the internet to teach them how to respond to text-based prompts. ChatGPT went viral after its debut in November of last year, composing recipes, poems, work presentations, and essays from simple prompts.