Alphabet Inc., the parent company of Google has lost 100 billion USD in its market valuation after its chatbot named Bard provided inaccurate information in a promotional video. It has triggered troubles among the company that it would lose to its competitors.
The incident caused a decline in the share of Alphabet as its stocks declined by 9 percent in the Wednesday session but rose to 7.68 percent. The company had lost a 40 percent valuation in the last year, and the value increased by 15 percent at the beginning of the year.
The share value has declined after a good news source highlighted a problem in Google’s advertisement for its new chatbot Bard. The chatbot made its first appearance on Monday.
Google has worked to provide tough competition to ChatGPT, Microsoft’s OpenAI, which was introduced in November and has gained popularity since then.
The chatbot has won over the human world and shaken the tech industry based on human-like responses.
The error in the chatbot Bard came to light before Google started its presentation in the AI chatbot. Alphabet has shared a video of Bard in action on the social media platform, presenting that the chatbot can solve complex topics.
However, bard responded inaccurately, which resulted in a decline in the application’s market value. The chatbot was given the prompt about the James Webb Space Telescope discoveries that can tell his 9-year-old. It has answered the question with several answers, including that the telescope was the first that was utilized to take pictures of the planets outside the earth’s solar system (exoplanets). However, NASA has confirmed that the first telescope used to click images of exoplanets was introduced in 2004 and named the European Southern Observatory’s Very Large Telescope (VLT).
A Google spokesperson has discussed the matter and given importance to the crucial testing process that the company would be starting this week in their program. The spokesperson has asserted that Alphabet will combine the external feedback of the users with internal testing to ensure that Brad’s response meets high standards for quality, groundedness, and efficacy of real-world information.
Google has live-streamed a presentation to talk about its new chatbot, but the company has not revealed any details about how and when it will use the chatbot in the core research function.
Previously, Microsoft announced that the company has already integrated ChatGPT with the latest version of Bing search. Google has faced a severe threat from Microsoft besides the error.
Can Google’s chatbot Brad compete with ChatGPT?
For the past few weeks, ChatGPT has shown off its abilities to write complex and quick essays, make marketing pitches, write poems and jokes, and even draft a congressman’s speech in the United States.
Humans are now afraid that AI will eventually replace them in many occupations.
On Twitter, Mr. Buccheit stated that it might take a year or two before chatbots completely overtake Google. The search engine’s result page, which generates a large portion of the business’s revenue, will be eliminated by AI. Google cannot operate AI without leaving some features in place, even if they install them. He predicted that a similar trend to what Google did to the yellow pages would emerge.
The Imitation Game or Turing test was the method of choice for artificial intelligence pioneer Alan Turing in 1950. The ability of a machine to mimic human behavior could be tested.
It has been reported that ChatGPT is the second chatbot to pass the Turing Test in 2022. Google LAMDA was the first to pass the examination in June 2022.
The senior software analyst at DA Davidson, Gil Luria, has talked about the incident stating that Google has been a leader in the AI industry known for its innovation, but the company has fallen behind Microsoft in implementing the data in their search results.
Google has been in continuous search to incorporate its chatbot in the search engine, but the misinformation by Brad has ruined its plans.
Microsoft’s share rose by 3 percent on Wednesday, while Google’s stocks plummeted in the post-market trading.
Google has talked about its AI-powered tool to be tested and stated that the model would be powered by the light weigh version of Lambda. The smaller model would require less computing power allowing the developers to permit more users to use it, which would generate more feedback.
Google is attempting to gain its lost footprint in the AI technology sector. It is facing tough competition with ChatGPT, and the ruckus by the newly launched chatbot will question its efficiency in the respective industry.
edited and proofread by nikita sharma
