Google parent Alphabet loses $100 billion after its ChatGPT rival Bard gives wrong answer in launch video

Google Bard was launched on February 6th to take on AI chatbot ChatGPT.

Highlights
  • Google’s Bard is a new chatbot tool designed to compete with ChatGPT.
  • Alphabet’s market value dropped by $100 billion after Bard responded incorrectly to a demo question in its launch video.
  • Bard is a conversational AI service powered by Language Model for Dialogue Applications.

Google CEO Sundar Pichai announced the tech giant’s new AI chatbot Bard on February 6th. However, an error in the demo video has led to parent company Alphabet Inc losing $100 billion in market value. As spotted by Reuters, Google’s in-house ChatGPT rival incorrectly answered a question about the James Webb Space Telescope.

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During regular trading, Alphabet shares fell as much as 9 per cent, with volumes roughly three times the 50-day moving average. After a few hours, they had reduced their losses and were nearly level.

AI chatbot Google Bard gives wrong answer

Bard was asked in the launch demo: “What new discoveries from the James Webb Space Telescope can I tell my 9-year-old about?” The AI chatbot responded with several responses, and one of them suggested that the James Webb Space Telescope was used to take the first images of planets outside the Earth’s solar system, known as exoplanets. However, this is incorrect since the European Southern Observatory’s Very Large Telescope (VLT) captured the first images of exoplanets in 2004, as confirmed by the US-based space agency NASA.

The report was the first to point out an error in the advertisement for the ChatGPT-like AI chatbot.

Google AI chatbot Bard: What is it?

Bard, launched just this week, is a conversational AI service powered by Language Model for Dialogue Applications (LaMDA), currently in testing. It uses information from the Internet to provide answers to current and high-quality queries. According to Google CEO Pichai, Bard is “a creative outlet and a jumping-off point for inquiry,” allowing users to learn about different things.

Recently, Pichai stated that the company would first release Bard on a ‘lightweight’ version of LaMDA, which will require significantly less computational power, allowing it to expand to more users and solicit more feedback. You can learn everything about Bard here.