Google Loses $100 Billion In Market Value After Bard Launch

Google has launched its AI chatbot ‘Bard’. But it gave the wrong answer in its promotional video. After that Google’s parent company Alphabet has lost $100 billion.

Google Inc.’s new experimental AI service, ‘Bard,’ which was created as a response to Microsoft’s ChatGPT, provided wrong information in its promotional video. 

On February 8, during regular trading hours, the company’s shares on the Nasdaq exchange fell 7.8%, while after-hours trading was basically unchanged.

A few hours before Bard’s debut ceremony in Paris, Reuters found the inaccuracy. When asked what to inform a 9-year-old about recent observations from the James Webb Space Telescope (JWST) in the demonstration video of Bard, the chatbot replies that the JWST was used to take photographs of a planet outside the Milky Way. This is not correct.

The chatbot was developed to compete with Microsoft’s ground-breaking AI chatbot, ChatGPT, and its goal is to simplify complicated issues. Google appears to have developed a rival too rapidly, though.

In general, there is still a long way to go before AI systems are fully integrated into commercial operations and begin to eliminate jobs. 

The dangers of plagiarized work, biased findings, and incorrect remedies continue.

After OpenAI, a company Microsoft is investing $10 billion in, unveiled software in November that amazed users and became a craze in Silicon Valley circles for its shockingly accurate and well-written responses to straightforward questions, Google has been reeling.

Google did not get into specifics regarding how and when it would integrate Bard into its primary search function during its live-streamed presentation on Wednesday morning. 

Microsoft announced at an event the previous day that a ChatGPT-integrated version of their Bing search had already been made available to the public. Google noticed Bard’s mistake right before the presentation.