Google to Challenge OpenAI
Alphabet Inc’s Google is entering the world of conversational AI with its new service called Bard. The company aims to revolutionize the way users interact with AI by providing detailed answers to simple prompts. Bard is set to open up to trusted testers and is readying itself for public release in the coming weeks.
Bard is powered by LaMDA, a large language model developed by Google that created a stir in the AI community in May. A Google software engineer publicly claimed that LaMDA was “sentient”, a claim that has since come under scrutiny. Despite this, LaMDA remains one of the most advanced language models in existence and Google is leveraging its power to bring Bard to life.
Google is also opening up its Generative Language API to companies, developers and creators next month, which will allow them to build their own applications using Google’s language models. This move is a testament to Google’s commitment to making AI technology accessible and useful for all. Google CEO Sundar Pichai stated in a blog post that, “Beyond our own products, we think it’s important to make it easy, safe, and scalable for others to benefit from these advances by building on top of our best models.”
The release of Bard comes at a time when Google is facing challenges to its search business, which drives the majority of its revenue. In the recent earnings report, Alphabet reported sales that missed expectations due to a digital ad slowdown and investor anxiety that AI rivals like OpenAI’s ChatGPT could disrupt search engine parameters. The company even declared a “code red” in response to ChatGPT’s release, which sent its AI engineers into a frenzy to come up with a response, in order to ease panic.
However, despite the challenges, Google remains focused on its progress in artificial intelligence. CEO Sundar Pichai emphasized the company’s advancements in AI in a recent earnings call and stated that users will soon be able to use language models “as a companion to search.” Google’s partnership with the AI startup Anthropic, in which the company invested close to $400 million, further demonstrates its commitment to AI. Anthropic is testing its own chatbot to rival ChatGPT, and Google’s investment gives the company a stake in the startup.
Google has selected a geographically diverse group of people outside of the company as testers for early access to Bard. The testers will help improve the AI service and understand how regular users will interact with it in real life. Google is committed to ensuring that Bard meets high standards for quality, safety, and based on real world information. CEO Sundar Pichai stated in the blog post announcing Bard, “We’ll combine external feedback with our own internal testing to make sure Bard’s responses meet a high bar for quality, safety, and ground-ness in real-world information.”
Alphabet Inc’s Google is entering the world of conversational AI with its new service Bard. The company aims to provide users with detailed answers to simple prompts and is set to open up to trusted testers in the coming weeks. Google is also opening up its Generative Language API to companies and developers, allowing them to build their own AI applications. Despite facing challenges to its search business, Google remains focused on its progress in artificial intelligence and is demonstrating this commitment through its partnership with Anthropic and investment in AI technology.
GOOGL Stock Price Forecast & Analysis
Alphabet Inc., the parent company of Google, is currently receiving strong support from financial analysts with a strong average rating of “Strong Buy”. This is based on the average target price for Alphabet Inc Class A stock which is set at USD 129.98 over the next 12 months, according to 35 analysts.
In addition to the favorable view from analysts, Stock Target Advisor’s own analysis of Alphabet Inc Class A stock is slightly bullish, which is based on 9 positive signals and 4 negative signals. The stock price of Alphabet Inc Class A was last recorded at USD 104.78 and has shown a significant increase in the recent past. The stock price has changed by 5.44% in the past week, 21.55% in the past month, and has declined by 26.88% over the last year.
FA Score (Fundamental Analysis):
The fundamental analysis of Alphabet Inc’s stock is “Bullish” with a FA score of 6.9 out of 10, where 10 is very bullish.