• Disclaimer
  • Privacy Policy
Media Coverage
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact
No Result
View All Result
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact
No Result
View All Result
Media Coverage
No Result
View All Result
Home Market coverage

Alphabet’s Bard: A New Contender in the Chatbot Space?

Gabriel Bello Obando by Gabriel Bello Obando
March 22, 2023
in Market coverage
0
Dividends
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Alphabet, the parent company of Google, has launched a waiting list for its new AI chatbot tool called Bard. This move is seen as a direct challenge to Microsoft’s Bing, which has been making waves with its OpenAI demonstrations in recent months. While some analysts have expressed concerns over Google losing market share, Stifel analyst Mark Kelley believes these concerns are overblown.

Kelley argues that Google is well-positioned to compete with Microsoft in the chatbot space. While the recent press surrounding Microsoft’s OpenAI demonstrations has been impressive, Kelley believes that Google will offer similarly convincing products within its more excellent search business that will keep users satisfied.

According to Kelley, there is some concern about the incremental costs of running a Large Language Model (LLM) and the impact on margins. However, he does not believe there will be a material impact on Search margins as most search queries are unlikely to require an LLM.

Kelley’s positive outlook on Google’s ability to compete with Microsoft in the chatbot space is reflected in his Buy rating and $130 price target for GOOGL stock. He believes that launching Bard and other upcoming products will help Google maintain its dominant position in the search market.

The chatbot space is becoming increasingly competitive, with many companies investing heavily in AI technology to improve customer service and engagement. Chatbots can help businesses save time and money by automating routine customer service tasks, such as answering frequently asked questions.

Alphabet’s entry into the chatbot space with Bard is significant, demonstrating the company’s commitment to innovation and technology. With Google’s extensive resources and expertise in AI and machine learning, Bard has the potential to be a game-changer in the chatbot space.

In conclusion, Alphabet’s launch of Bard is an exciting development in the chatbot space. While Microsoft’s OpenAI demonstrations have garnered significant attention, analysts like Mark Kelley believe that concerns over Google losing market share are overblown. With its extensive resources and AI and machine learning expertise, Google is well-positioned to compete with Microsoft in the chatbot space. Launching Bard and other upcoming products will help Google maintain its dominant position in the search market.

Moreover, the launch of Bard also highlights the increasing importance of chatbots in the tech industry. With the rise of messaging apps and social media platforms, chatbots have become vital for businesses to engage with their customers. Chatbots can respond instantly to customer inquiries, which can help companies to improve customer satisfaction and retention.

In addition, chatbots can also help businesses collect valuable data about their customers. Companies can gain insights into customer preferences and behavior by analyzing customer interactions with chatbots. This information can be used to improve products and services and develop targeted marketing campaigns.

As more businesses adopt chatbots, the market for chatbot technology is expected to increase in the coming years. According to a report by MarketsandMarkets, the global chatbot market is projected to reach $9.4 billion by 2024, growing at a compound annual growth rate (CAGR) of 29.7% from 2019 to 2024.

With the launch of Bard, Alphabet is well-positioned to capitalize on this growing market. The company’s extensive resources and expertise in AI and machine learning give it a significant advantage over other players in the chatbot space. Bard can become a leading chatbot tool, helping businesses improve their customer engagement and drive growth.

In conclusion, Alphabet’s launch of Bard is an exciting development in the chatbot space. While Microsoft’s OpenAI demonstrations have garnered significant attention, analysts like Mark Kelley believe that Google’s position in the search market is secure. With the growing importance of chatbots in the tech industry, the launch of Bard highlights Alphabet’s commitment to innovation and technology. As the chatbot market grows, Alphabet is well-positioned to capitalize on this trend and drive growth in the coming years.

Tags: Alphabet
Previous Post

Kraft Heinz Partners with BEES B2B Marketplace to Expand into Latin America

Next Post

Federal Reserve Raises Interest Rates by a Quarter Point, Signals Pause in Future Increases

Next Post
Bull vs Bear Stock Market

Federal Reserve Raises Interest Rates by a Quarter Point, Signals Pause in Future Increases

Wealth

Sugarhill Ddot’s Net Worth: Inside The Career of the Rising Drill Rap Star

by Gabriel Bello Obando
November 10, 2023
0

When it comes to the hip-hop scene in America, there are a few names that stand out. However, one name...

Read more

From Telenovelas to Hollywood: Exploring Kate del Castillo Net Worth and Career Achievements

June 1, 2023

Adamari López Net Worth: An Inspirational Tale of Resilience Beyond The Screen

June 1, 2023

Simon Helberg Net Worth: A Multi-Talented Hollywood Star

June 1, 2023

Sam Bailey Net Worth: Her Journey to Fame and Musical Career

June 1, 2023

Categories

  • Analyst Ratings
  • Business
  • Business news
  • Market coverage
  • Pre-IPO & Startups
  • Stock Markets
  • Wealth
  • World Economy

About Us

Our team of experienced journalists and industry experts is committed to providing you with the latest and most accurate information on a wide range of topics, from finance and technology to politics and the economy.

We are proud to be part of the Best Stocks team and to offer our readers exceptional content that is informed by our combined expertise. We look forward to continuing to serve our readers and to playing a key role in the world of business analysis and reporting.

READ MORE

  • Media Contacts
  • Journalist Contacts
  • Contact
  • About us
  • Disclaimer
  • Privacy Policy

© 2023 Media Coverage

No Result
View All Result
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact

© 2023 Media Coverage