AI chatbot’s blunder sends Google Stock into freefall
Published on Feb 09, 2023 at 2:39 PM (UTC+4)
by Alessandro Renesis
Last updated on Feb 09, 2023 at 2:39 PM (UTC+4)
Edited by
Kate Bain
Google Stock investors have been left flabbergasted after the company’s much-talked-about AI chatbot made an embarrassing mistake on day one.
The internet giant lost about $100 billion in market value as a result of the blunder.
This is what went down.
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Google’s AI-powered bot, known as ‘Bard’, was announced and introduced earlier this week.
There was a lot of hype around it and expectations were high to say the least.
However, things immediately went south when news agency Reuters spotted a mistake in the advertisement for the chatbot.
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In short, Bard made a mistake when identifying which satellite first took pictures of a planet outside the Earth’s solar system.
Google shares immediately fell eight percent, down from $108 to $99 per share at market close.
Major tech companies have been ramping up their efforts to roll out AI products following the parabolic rise of AI-based chatbot ChatGPT.
Microsoft plans to invest $10 billion into ChatGPT creator OpenAi.
Mind you, the company actually has a foot in both camps because it is also planning to revamp its search engine Bing and turn it into its own proprietary chatbot.
Launched in 2009 as a successor to MSN Search, Bing was supposed to be a ‘Google killer’ but it never really took off.
Bing generates around 900 million searches per day and it is available in 40 languages.
For reference, Google is available in 149 languages and performs a whopping 6.9 billion searches per day.
So far, ChatGPT proved it can write code, compose music, write credible scripts and pass law school exams.
As it is openly available online, people have been using it for fun and sharing their impressions on social media.
One Twitter user pointed out that ChatGPT only took five days to reach 1 million users.
Dubai-based investor Ray Dargham said he and his company used ChatGPT for a business campain because “[it] was better and funnier than us”.
Even Elon Musk had a go at it.
Musk has often warned against the threat of AI in the past.
On the subject of ChatGPT, Musk wrote: “ChatGPT is scary good. We are not far from dangerously strong AI.”
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