Microsoft Hoped AI Would Be the Key to Wresting Search Market … – The Motley Fool
Could Bing become a contender in the battle against Google search?
Earlier this year, ChatGPT ignited new interest in the world of artificial intelligence (AI). The chatbot, created by start-up OpenAI, nabbed the title of “fastest-growing consumer application in history,” according to Reuters (citing a UBS study). The public fascination with ChatGPT initiated something of an AI-inspired gold rush — particularly after it was revealed that Microsoft‘s (MSFT -2.25%) investment in OpenAI had jumped to $13 billion virtually overnight.
To be clear, Microsoft wasn’t just jumping on the AI bandwagon. The company, which offers AI tools via its Azure cloud, stunned the tech world when it announced that it was integrating ChatGPT-like functionality into its Bing search engine. Its logic was sound: Microsoft estimates that for every 1% of worldwide search market share it can steal from Alphabet‘s Google, the company stands to gain a $2 billion revenue opportunity.
Microsoft released its…
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