Google’s Bard AI ChatBot Wiped Off $100 Billion In Market Cap After Factual Error In First Demo

Google announced Wednesday a series of AI-powered features, but its share price plummeted due to a mistake in an advertisement. After ChatGPT, a bot that generates essays, speeches, and exam papers in seconds, the search engine giant Google is now rushing to enter the market.

For over two decades, Google has been trying to maintain its dominance in the web search market, and the bots are rapidly being integrated into search engines. Astronomers and other Space enthusiast on Twitter quickly saw that Google’s Bard had made a mistake in an advertisement promoting its new technology.

In the Ad, the chatbot was asked about ‘What New Discoveries From James Webb Telescope Can I Tell My 9-Year-Old About’? Incorrectly, it claimed that James Webb was the first to photograph a planet outside Earth’s solar system. But the correct answer was European Very Large Telescope.

Investors were also disappointed by the latest announcements, which plummeted the share price by more than seven percent on Wednesday.

Google Vice President Prabhakar Rahvan stated that Bard is being used by trusted testers but did not provide a timeline for a public release. This is expected to happen within the next few weeks.

Analysts suggested that Google announced its plans quickly because of Microsoft pressure, but Raghavan denied this claim. He stated, “This has been an extensive journey,” and added that no one event “dramatically altered the course of Google’s plans.”

Google executives announced several AI-induced enhancements to products on Wednesday, including translations and maps.

Microsoft also said it would incorporate AI in its Office suite and Teams messaging application. Its promise to boost its badly-respected Bing search engine set it on a collision course alongside Google, which has been the dominant player in this field for over two decades.

AI chatbot, similar to ChatGPT, promises to provide users with ready-made solutions from multiple sources. This replaces the traditional list of ads and links that has been Google’s bread & butter for over two decades.

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