Google Bard’s Initial Tremble Reflects on GOOGL Stock Tumble

• Google announced its AI-powered service Bard on Monday for the testing phase
• Alphabet (NASDAQ: GOOGL) stock had to pay the price 

Forget the notion that artificial intelligence (AI) technology will fight humans and will rule one day. Currently, it’s man-made companies that are competing with each other to set themselves up within space. ChatGPT launch initiated the so-called “AI war” among the companies to win over the technology as soon as possible. Google announced the launch of its chatbot tool, but it seems like the hast is resulting in a loss for the search engine giant. 

According to a CNN report, Google revealed the launch of its chatbot tool named Bard on Monday, February 6, in a blog post. CEO Sundar Pichai stated that the chatbot will be publicly launched in the upcoming weeks, but it was first available to “trusted testers.”

Recently Google and its AI service Bard had to face criticism after the chatbot’s inaccurate response. The company was called out for its own Twitter post where a user who asked, “what discoveries from the James Webb Space Telescope can I tell my 9-year-old about?” was answered. The response had the answer in bullet points stating that the telescope was the one which took the “very first pictures of a planet,” which is not part of our solar system.

This is the point from where the whole chaos is born because the information is factually incorrect. The US space agency, National Aeronautics and Space Administration (NASA), has the data that the Very Large Telescope of European Southern Observatory took the first picture of any such planet that was not part of our solar system, called an exoplanet in 2004 itself. 

Reuters reported the share prices of Google’s parent company, Alphabet (NASDAQ: GOOGL), slumped after the surfacing of this instance. On Wednesday, GOOGL stock fell upto 8%, and currently, it is trading at 95.01 USD after losing more than 4% in the last trading session. The loss after the price drop cost the company a loss of 100 billion USD from its market value. 

Google’s spokesperson citing the tool’s factual error, stated that the instance proved the rigorous testing process, the Trusted Tester program, is of utmost importance. He added the company will “combine external feedback with our internal testing to make sure Bard’s responses meet a high bar for quality, safety and groundedness in real-world information.”

Although the capital loss and stock price fall were insignificant, the company has much bigger things at stake, given its anticipation to compete with ChatGPT. Computer software giant Microsoft is also rumored to intend to deploy the chatbot by pouring billions of dollars of funding into creator company OpenAI. 

Google’s Bard is based upon the large language model that generates exact answers for users. The chatbot tool is powered by the existing technology launched about two years ago. Language Model for Dialogue Applications (LaMDA) technology serves to facilitate Bard. 

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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