Google’s Artificial intelligence (AI) Chatbot, Bard, wipes $100 billion off the parent company's market value, Alphabet after it made a factual error in a promotional video.
The company’s shares dropped after Reuters pointed out an error in Google's demo ad. In the fateful ad on Google's Twitter feed, the company described Bard as "a launchpad for curiosity" and a search tool to "help simplify complex topics."
In the Twitter post, a GIF image displays a user asking Bard,
“What new discoveries from the James Webb Space Telescope (JWST) can I tell my 9-year-old about?”
To this, the chatbot responded with a few bullet points, including the claim that the JWST took the first pictures of “exoplanets,” or planets outside our solar system.
"These discoveries can spark a child's imagination about the infinite wonders of the universe," Bard said.
But according to NASA, that was done by another telescope, not the James Webb Space Telescope. The European Southern Observatory's enormous telescope took the first-ever pictures of those unique celestial bodies in 2004.
Social media users quickly noticed the mistake. Many people on social media pointed out that the company could have fact-checked the exoplanet claim just by Googling it.
"Why didn't you fact-check this example before sharing it?" Chris Harrison, a fellow at Newcastle University, replied to the tweet.
The ad aired hours before Google's senior executives hailed Bard as the company's future at a launch event in Paris. In addition, Investors at the press conference were also underwhelmed by a presentation the company gave about its plans to integrate artificial intelligence into its products.
A Google spokesperson said the error highlighted "the importance of a rigorous testing process, something that we're kicking off this week with our Trusted Tester program.”
"We'll combine external feedback with our own internal testing to make sure Bard's responses meet a high bar for quality, safety, and roundedness in real-world information," they said.
On Wednesday, Alphabet stock opened at $102.05 per share, lower than its previous closing price of $107.64. During the session, the tech stock dropped as much as 8.9% to $98.04 amid substantial volume that reached nearly three times the 50-day moving average. In the end, shares fell by 7.68% to $99.37, wiping out more than $100 billion in market value, Fortune reported.
Meanwhile, shares of Microsoft, Google's rival, rose by 3%. Microsoft announced that it would incorporate ChatGPT into its Bing search engine this week. The company has invested $10 billion into OpenAI, which created ChatGPT. Microsoft's backed ChatGPT has taken Silicon Valley by storm, dazzling investors and sparking fear in writers with its ability to answer questions in plain, simple language rather than a list of links.
In the past year, Alphabet stock plunged 30%, dropping 15% in a six-month period. Despite disappointing earnings in the fourth quarter that ended December as advertisers cut spending amid recession concerns, the stock recovered nearly 13% in a month. Recently, the company laid off around 12,000 employees as part of a cost-saving measure.
What is Google’s, AI Bard?
Bard is Google’s artificial intelligence-powered chatbot that will work precisely like ChatGPT. That is, users will be able to use the chatbot through conversation. It is based on Google’s Language Model for Dialogue Application (Language Model for Dialogue Application or LaMDA). According to the company, it is a lite version of LaMDA.
“Bard is an experimental conversational AI service powered by LaMDA. Built using our large language models and drawing on information from the web, it’s a launchpad for curiosity and can help simplify complex topics.”--- Google
Will Bard Be Able To Compete With ChatGPT AI?
Google, known for its dominance in the search engine segment, has also announced the launch of an AI-based chatbot named Bard to compete with ChatGPT. Users can find the latest, high-quality answers through Google's latest AI tool.ChatGPT usually gives the data information till 2021 properly as it has been trained on data till 2021.
Google is releasing the Bard with a lightweight model version of the LaMDA. Since smaller models require less computing power, Bard can reach a wider audience and collect more feedback.
The feedback Google receives from external users will be incorporated into its internal testing to ensure the quality of the answers it receives from Bard is high. So from now on, Bard will have a much higher quality of answers.
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