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Google CEO Sundar Pichai made a hesitant move full of mistakes, even though they were logical in theory.
According to CNBC, Google’s shares in the session on February 8 fell 7% after the company held an event to launch an artificial intelligence (AI) chatbot called Bard to confront Microsoft’s ChatGPT.
Business Insider considers this to be the clearest sign that investors don’t trust Google when CEO Sundar Pichai makes the wrong choice, to be slower than Microsoft in this area, and then gets scared and makes a Bard for the sake of it. FOMO management.
FOMO is an acronym for the phrase “Fear of missing out”. This is the psychological effect of an individual or an organization that is afraid to miss an opportunity when standing out of the crowd.
In contrast to ChatGPT, which hit 100 million users last month, Google’s Bard chatbot is still in beta and hasn’t even been made public to all users yet.
Water goes bad?
According to BI, Google is in an extremely awkward position.
Microsoft’s ChatGPT chatbot was released first and despite many bugs, it has resonated with 100 million users. The company has launched a paid version, incorporating AI technology into Bing, Google’s rival search engine.
Meanwhile, Google has never had a technology that has revolutionized its search engine for many years, even though this is the main monetization area.
Then when ChatGPT launched with AI and was considered to create a new revolution for the search engine segment, Google started to get scared.
“Although Bing only has a 9% share of the online search market, ChatGPT’s technology and accompanying algorithms will help Microsoft erode Google’s foundation,” said Wedbush analyst Dan Ives.
As a corollary, Google got into the FOMO mentality and rushed to launch Bard even though this chatbot was not really ready. The move comes just before Microsoft holds an AI-integrated Bing event.
In fact, Google doesn’t want to rush, even though they are also developing AI. With a large position in the market, a faulty product can also have a big impact, especially with highly interactive technology like AI chatbot.
BI reports that it’s easy for Google to trigger investigations into racism, sexism, and hate with a product it hopes will be groundbreaking. So caution is understandable, but when Microsoft went ahead and succeeded, this decision of Google turned bad.
Microsoft’s ChatGPT with the lead has given everyone an exciting experience of how AI can change lives, surprising and appalling at its limitless possibilities.
Meanwhile, Google’s Bard is just a late product with as many bugs, has fewer users and is only used for testing. This corporation is in a situation where it is neither a pioneering product, nor something truly perfect, and can still be sued for racist errors in chatbots.
It’s not clear at this point whether Google will be able to build a product that goes after but forward like Apple has done with smartphones. However, with equal potential and countless technology giants flocking to this segment, Google will probably have a hard time maintaining its position just because of a wrong move.
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