A bug in Google’s AI chatbot costs the company $100 billion

News Summary:

  • $100 billion was lost after Wednesday’s close as Google’s parent company Alphabet Inc lost his $100 billion in market capitalization. After Google unveiled its AI chatbot Bard, the stock price spiraled downward amid fears that Google would lose search engine market share to Microsoft’s rival search engine Bing. Notably, Google didn’t reveal a release date for his Bard chatbot in its announcement, but the day before, Microsoft launched a new Bing with an updated version of the technology underlying OpenAI’s hugely popular ChatGPT.

  • Just a few days ago, Google announced a ChatGPT competitor called Bard, but the announcement came at a high cost, as it cost the parent company $100 billion.

Google’s announcement was seen as a sloppy and perfunctory response to Microsoft’s acquisition of ChatGPT and incorporating it into its own search engine. In support of this point, Reuters reported that Google’s marketing materials for Bard contained material errors. Bard was asked, “What new discoveries from the James Webb Space Telescope (JWST) can I tell my nine-year-old?” We have captured the first-ever image of a planet outside of our own solar system, which is effectively false.

There is clearly a race going on between Microsoft and Google over who can develop the best AI system and implement it in their search engine, and judging by Microsoft’s announcement, Bing is in the race, at least for now. It looks like you are winning. Google currently has several private AI projects in development, but now that Microsoft has taken its first steps, the company is preparing to open those doors to the public. However, judging by Google’s efforts so far and the lack of an official start date for public testing, it looks like the company is catching up with Microsoft.

NASA confirms on its website that the European Southern Observatory’s Very Large Telescope took the first image of an exoplanet, a planet outside our solar system, in 2004. In particular, a Google spokesperson commented on the bug, saying its existence underscores the importance of a rigorous testing process. Google has also launched a Trusted Tester program. This program provides companies with feedback on their responses combined with feedback from internal testing.