The market value of Google’s parent company Alphabet fell by more than $100 billion after its newly launched AI chatbot Bard presented false information in an advertisement. Analysts also criticized the AI Search event for its lack of information on how Microsoft would respond to the ChatGPT challenge.
Hours before Bard’s launch ceremony in Paris, Reuters drew attention to an inaccuracy in Google’s advertising, which led to a selloff in the company’s stock.
A GIF clip from the tech giant’s Twitter post shows a user asking Bard about the new findings of the James Webb Space Telescope (JWST). The chatbot replied that JWST was the first to take pictures of a planet outside our solar system. However, this is not correct.
On Wednesday, shares of Alphabet began trading lower at $102.05 per share, compared to its previous closing price of $107.64 on the NASDAQ. The tech company had significant losses throughout the day, falling as much as 8.9% to an extreme low of $98.04, more than three times higher than its 50-day moving average. After losing more than $100 billion in market capitalization, the stock finally ended 7.68% lower at $99.37.
Read also: ChatGPT Will Face Competition With Its New Google Rival ‘Bard’: Know Everything
Google’s event comes a day after Microsoft announced its intention to incorporate its competing AI chatbot ChatGPT into its Bing search engine and other products, posing a significant threat to Google, which has led the way in terms of search and browsing capabilities. outperformed Microsoft.
frequently Asked question.
1- What is Bard?
Bard is a conversational AI service developed by Google and powered by LaMDA (Language Model for Conversational Applications).
2- What differentiates Bard from ChatGTP?
Bard uses Internet data while ChatGPT has information up to 2021.