Microsoft Corp. (NASDAQ:MSFT) announced on Tuesday that its Bing search engine will be integrated into ChatGPT so users can obtain more up-to-date responses.
The viral chatbot developed by OpenAI’s partner is capable of delivering information outcomes to 2021. With the Bing connection, the chatbot can now provide real-time information.
Bing’s integration in ChatGPT is part of Microsoft’s strategy to increase its share of the worldwide search advertising industry, which is predicted to be worth $286 billion.
Analysts perceive Bing’s inclusion in ChatGPT as Microsoft’s attempt to narrow Alphabet Inc.‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google data advantage in the two tech giants’ AI war.
Bank of America’s Take: According to Bank of America research analyst Justin Post, although Bing’s inclusion in ChatGPT may reduce Google’s data edge, Alphabet holds three significant advantages in terms of data, distribution and AI-based ad technology.
The analyst noted Google’s web traffic has remained stable, whereas Bing’s declined, and that ChatGPT appeared to be moderating between 45 to 65 minutes per day, adding that there had been no increase in web traffic since the introduction of the ChatGPT app on May 18.
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ChatGPT iOS app downloads have reached 711k since its introduction last week, but have begun to decline on a daily basis (-23% d/d). The app is scheduled to be published shortly on Android and in other countries, and app traffic will be keenly monitored by Wall Street.
Google Expands Its AI Projects: Google revealed AI technologies that would enable marketers to create unique text or display ads in real time depending on the user’s query and advertiser data submitted to Google. According to reports, the tool would be free for marketers and should enhance relevance and conversions. Google also unveiled a number of additional tools for marketers to use Generative AI for campaign design and management across Google domains.
Buy Reiterated: Bank of America reaffirmed its Buy recommendation on Alphabet shares, citing Google’s continued use of AI to enhance its ad offerings, which will benefit its market position.
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