Stock in Alphabet has risen to its highest level since August after Google revealed plans for its artificial intelligence project at its developer conference on Wednesday.
Thursday’s close of $116.57 was a gain of 4.3% for the stock price.
Google, owned by Alphabet, made the announcement at its I/O event that it would include artificial intelligence technologies in its flagship search tool.
Google also announced that its suite of office tools, including Google Docs, will soon include AI-enabled document creation and spreadsheet completion. Bard AI, the firm’s chatbot, will quickly be able to react in other languages and with various visuals, and the company has promised to make it more freely available.
Analysts appeared optimistic that Google’s disclosures would help the corporation maintain its position as a frontrunner in the AI race and bring in profits.
“We remain bullish and view I/O as a clearing event that will help erode the heavily debated ‘AI overhang,'” Morgan Stanley analyst Brian Nowak wrote.
FAQs
A reporter from the Associated Press tried out Google’s AI robot by asking it a question from Shakespeare. As a reaction to Microsoft’s decision to add the ChatGPT tool to its Bing search engine and other products, Google has put out a bot called Bard.
Google has been beta-testing Bard internally and with a small group of outsiders for several months. The business says the moniker “Bard” was chosen since it is a “storyteller.” LaMDA stands for Language Model for Dialogue Applications.
