Google’s $100bn AI whoopsie - Episode 356 - by cryptohunt.it

Google’s $100bn AI whoopsie

Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: In plain English.

Google just wiped $100 billion – yes that is billion as in nine zeros – off its market capitalization with a botched AI demo.

If you had any doubt that everyone thinks AI is the future, look no further than today’s demonstration of Google’s new AI chatbot. As you know from yesterday’s podcast episode, the company has been racing to catch up with archrival Microsoft, who owns almost half of the company that makes popular AI ChatGPT.

The problem? It seems like Google doesn’t have it figured out yet. The AI made a factual mistake in a promotional video, which is not only embarrassing because they could have just created a better video, but also shows just how much behind ChatGPT Google must actually be.

And the stock markets didn’t take kindly to it: They fear that Microsoft will eat Google for lunch. The stock price fell a crazy 8% after today’s demo. And those fears are not unfounded - Microsoft is already embedding AI chat into Bing, the search engine you may have almost forgotten about. If people were to stop Googling things, it’d game over the tech legend, because all their money comes from ads, and most of those ads are shown through Google Search.

We live in amazing times. Just a few months ago, people would have seriously wondered how anyone on earth could survive without searching on Google multiple times a day. And now we are already talking about that being a thing of the past. Quite exciting if you ask us, and about time that Google gets some real competition.

We can’t wait to see what will unfold. And Google - we know you feel the pressure, but maybe next time you’ll do things the Apple way and show products when they are done. An extra day or two of video-editing wouldn’t have hurt, especially if it could determine the future of your company.

And for me: I just installed bing on my Google pixel phone and used my skype longin from the early 2000 to get started. How things changed.

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