Google’s parent company, Alphabet, suffered a massive market value loss of over $100 billion, following an error in the debut advertisement of its artificial intelligence (AI) chatbot, Bard. The announcement on Twitter claimed that Bard would provide accurate answers to complex questions. However, Bard’s response to a prompt about the first satellite that took pictures of an exoplanet– a planet outside Earth’s solar system– was incorrect.
Google’s AI Botch-Up: $100B Market Value Plummets Over Parisian Launch Fiasco
The error was spotted just hours before the launch event for Bard in Paris, which further exacerbated the negative impact on Alphabet’s stock price.
According to reports, Alphabet’s shares fell 8% or $8.59% a share to $99.5, and the company was one of the most actively traded on U.S. exchanges. Analysts attributed this sharp drop in market value to the lack of details provided by Google’s AI search event, which failed to demonstrate how it would counter Microsoft’s ChatGPT challenge.
This incident highlighted the importance of rigorous testing and quality assurance processes in developing and launching AI-powered products. Google acknowledged the error and stated that it would implement a Trusted Tester program to combine external feedback with internal testing to ensure Bard’s responses meet a high standard of quality, safety, and real-world information.
The market value loss suffered by Alphabet serves as a reminder that AI technology is not infallible and can have significant consequences for businesses and their stakeholders. As AI continues to shape the way we interact with information, companies must prioritize the development of robust testing and quality assurance processes to avoid costly errors and reputational damage.
In conclusion, Google’s loss of over $100 billion in market value highlights the need for rigor and diligence in developing and launching AI-powered products. As AI continues to evolve, businesses must prioritize quality and safety to ensure that their AI products meet the highest standards and can be trusted by users.
Hence, Real Research, an online survey platform, launched a survey on Google losing $100B in stock due to an AI error to gather how important AI plays in the future of business. Hurry and answer the survey on Google losing $100 billion in an AI chatbot error on the Real Research app from February 17, 2023, and win 60 TNCs as a reward.
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