After its new chatbot, Bard appeared to have given an incorrect answer to a question in a promotional video, Alphabet, the parent company of Google, saw its market value drop by $100 billion on Wednesday.
The Nasdaq-listed business closed at $99.37, a 7.68% decrease. In Google’s Bard advertisement, which debuted on Monday, there was a mistake about which satellite captured the first images of a planet outside of our solar system.
ChatGPT, the chatbot by Microsoft-backed OpenAI, has been wooing users since November. In January, it reached an estimated 100 million monthly active users, becoming the fastest-growing consumer application. Microsoft, which has invested $10 billion in the AI company, recently demonstrated a new version of its Edge browser with ChatGPT-like features, along with an AI chatbot available in the sidebar.
The company has also integrated ChatGPT functions into its Bing search engine. However, it currently offers limited experience and users will have to join a waitlist to get access to the ‘new’ Bing.
After ChatGPT’s immense success, Google entered the AI race, with hopes of outsmarting it with Bard. On Monday, unveiling the chatbot, CEO Sundar Pichai had written in a blog post, “Bard can be an outlet for creativity, and a launchpad for curiosity.”
