Microsoft-backed ChatGPT seems to have kicked the AI race up a gear, with Alphabet essentially being forced to unveil Bard, which did not experience the same optimistic reception, sparking heavy losses for $GOOGL.
Microsoft is planning to use AI technology to revolutionise its Bing search engine and is looking to go head-to-head to take away from Google’s dominance in the space. While this poses substantial upside potential for Microsoft, Google still handles 93% of worldwide searches, and it will take something significant to knock it off its perch.
While it is interesting to see the initial reaction of investors, it is way too early to call a winner, and it will be worth watching how both of these companies look to dominate the AI industry in the mid to long term.
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