Google, has recently faced concerns about the health of its core search business due to a decline in the digital ad market and the potential threat of AI chatbots redirecting user traffic. However, in its second-quarter earnings report, the company demonstrated various ways it can thrive in the face of these challenges. Despite the rise of generative AI chatbots from OpenAI and Microsoft, Google’s search revenue, which accounts for most of its ad business, continued to grow steadily, providing reassurance to investors.
While Microsoft’s Bing search engine integrated OpenAI’s ChatGPT earlier this year, Google’s search business expanded. Google’s CEO, Sundar Pichai, highlighted Bard, Google’s own chatbot, as a significant investment focus in recent months. During the earnings call, executives emphasized the extensive use of AI throughout the company, assuring investors that this technology is integral to Google’s future endeavors. However, Google has yet to disclose the availability of its AI search feature, Search Generative Experience (SGE), to the public. SGE aims to synthesize search results from complex queries.
Pichai expressed his belief that AI is a tremendous asset to Google and declared, “Over time, this will just be how search works.” He cited ongoing efforts to develop different search options for users, freeing the company from the constraints of traditional search methods and allowing them to think more creatively. Pichai noted the increasing customer interest in AI and the growing number of conversations they are having with Google.
Google’s recent earnings report showcases its ability to navigate the challenges posed by the digital ad market and the rise of AI chatbots. With its search revenue continuing to grow and investments in chatbots like Bard, Google remains at the forefront of technological advancements. The company’s commitment to incorporating AI into various aspects of its operations demonstrates its forward-thinking approach, and the possibilities it offers for the future of search are promising.
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