Google's AI chatbot Bard Causes Market Crash 8% :
More than $120 bn was wiped off Google ’s market value after its new AI search assistant gave one wrong answer that was featured in promotional material. Parent company Alphabet ’ s share price dropped by 8 pc after the Google Bard tool’ s launch got off to a rocky start following its misleading response to a question about a NASA telescope. At its lowest point on Wednesday Alphabet was trading at $98.08 (£81.16) a fall of 8.1 pc on the previous day’ s price of $ 106.77 (£88.35).
It marked the biggest one-day fall in Alphabet’ s value since October 2022,when the company shed 9pc of its value in one day after unveiling a big slowdown in sales,profits and growth.
Google bard -The AI Search assistant
Bard, its AI search assistant , is used by google to generate text summaries of search results .
Yet in an animated image of Google Bard in action distributed by the company to mark the new feature’ s launch , it gives a wrong answer.
The falsehood will raise further questions about the accuracy of search engines and of AI generated answers to humans questions .
Wrong Answer Raises Concerns About AI Accuracy
In an animated GIF showing how Bard works, a user types in the search query “what new discoveries from the James Webb Space Telescope can I tell my 9 year old about?”
The Nasa telescope was made operational in december 2021 and has been used by scientists to make several discoveries of new planets outside the our Solar System .
One of the responses generated by Bard says : " JWST took the very first pictures of a planet outside of our own solar system."
This is not accurate. The first picture ever taken of a planet outside the solar system an exoplanet was captured in 2004 by the Very Large Telescope array in Chile.
The exo planet is called 2M1207b is around five times The size of Jupiter and is located about 170 light years of away from Earth .
Fears have been raised about inaccuracies generated by Artificial intelligence systems which are not easily spotted by the humans .
Chat Bot Rival OpenAI Admits Limitations of Technology
OpenAI makers of chatbot rival ChatGPT have been open about the limitations of their technology and have admitted it can sometimes write plausible sounding but incorrect, or nonsensical , answers to humans questions .
The company is owned by Microsoft , whose share price has grown 6 pc over the past week. Market analysts believe its recent growth is down to the launch of ChatGPT .
Dan Ives of Wedbush Securities said in a client note on Tuesday, referring to Microsoft’s chief executive: “This OpenAI investment/strategic partnership which is likely in the $10 billion range is a game changer in our opinion for Nadella & Co .”
This move by Microsoft into the AI market has clearly paid off as their investment in OpenAI has proven to be a wise decision . The recent growth in their share price can be attributed to the launch of ChatGPT , which has received positive reviews and highlights the importance of AI in our future.
However, the issue with Google Bard’s misleading response highlights the potential dangers of AI-generated answers and the importance of thoroughly testing these systems before they are launched. The company has responded by launching a Trusted Tester program, which will combine external feedback with their own internal testing to ensure that Bard ’s responses meet high standards for quality, safety and accuracy.
Overall, it is clear that AI technology is rapidly advancing and changing the world, but it’s important for companies to take caution and implement proper testing procedures before unleashing these systems on the public. While AI may offer new and exciting possibilities it’s crucial to remember the potential risks and ensure that these systems are reliable and trustworthy .
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