Artificial intelligence (AI) chatbots are becoming increasingly common day by day. The process, which started with OpenAI’s ChatGPT, has nearly caused the internet to change and reshape. In an attempt to catch up with this fast-moving trend, Google recently announced its own chatbot, Bard. While many people expect ChatGPT to be replaced by Bard to be the most used AI, artificial intelligence causes $100 billion market loss with incorrect James Webb Telescope answer. Here are the details…
Google’s AI Chatbot Bard Causes $100 Billion Market Loss With Incorrect James Webb Telescope Answer
Google introduced Bard with high hopes and even organized an event to showcase its capabilities. During a live-streamed event, Bard was asked to explain new discoveries from the James Webb Space Telescope to a 9-year-old. The AI provided two correct answers that accurately understood the question. However, it made a significant error by claiming that the James Webb Space Telescope was the first to take images of exoplanets, when in reality, the Very Large Telescope of the European Southern Observatory was the first to capture an image of an exoplanet in 2004.
As you can imagine, when the world was watching closely and Google was expected to demonstrate its power, the error caused a significant loss. Alphabet Inc., the parent company of Google, saw a loss of $100 billion in market value as a result. Alphabet shares also declined during regular trading, dropping as much as 9%. After hours, they had stabilized their losses somewhat. So, what was the reason for this significant loss of value?
Technology is one of the most volatile business sectors in the world. This industry, which is based on innovation, has caused many companies that could not keep pace with advancements to lose their popularity and become nearly obsolete in the market. Hardly any company has maintained its position at the top since its establishment.
Companies such as Nokia and Motorola have declined to the extent that they have been sold within just a few years. Investors are concerned that Google is losing ground in the wake of the sustained popularity of OpenAI’s ChatGPT. The Microsoft-backed AI chatbot has acquired 100 million users just two months after its launch, generating substantial excitement.
When asked the same question about the James Webb Space Telescope’s discoveries (simplified for a 9-year-old), ChatGPT provided a more correct and creative, albeit general, response, emphasizing the telescope’s ability to search for and study exoplanets, observe the birth of stars and galaxies, study dark matter and dark energy, and search for signs of life. It is expected that Google will improve Bard in the future to provide clearer and more accurate answers. However, it is not known whether the company will turn its focus to artificial intelligence-centered answers and throw the search business into the background.