In addition to offering a new iteration of its namesake engine, Google stated that it will be implementing additional artificial intelligence for its primary search product. Alphabet shares soar 5%, increasing the company’s market value by $56 billion on Wednesday after the firm announced a number of AI-related developments at its I/O developer conference, which resulted in an $82 billion increase in value over the previous night.
In addition to offering a new iteration of its namesake engine, Google stated that it will be implementing additional artificial intelligence for its primary search product. The updated Google, now known as the Search Generative Experience, can create answers to open-ended searches while keeping its well-known list of Web links.
Sundar Pichai, CEO of Alphabet, remarked during the event, “We are reimagining all of our core products, including search.”
Following the launch of ChatGPT by the firm OpenAI, Google entered the generative AI space.
According to Pichai, Google is incorporating generative AI into search as well as its other services and products, like Gmail, which can modify messages, and Google Photos, which can edit photographs by centering objects and filling in blank spaces, among other things.
The queue has since been eliminated by Google, and Bard is now accessible in more than 180 nations and territories, including India. In addition to English, the software giant has made Bard available in Korean and Japanese, and it plans to add 40 more languages in the future.
The price of Alphabet‘s shares increased 4% on Wednesday, bringing their year-to-date gain to 26%. This contrasts with the 8% increase in the S&P 500 index during the same time frame.
