ChatGPT-parent, OpenAI has reportedly been developing a web search tool that could give Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google a run for its money, something that Microsoft Corporation (NASDAQ:MSFT) has been trying to do for ages.
What Happened: According to a source cited by The Information, OpenAI is in the process of developing a web search tool, with support from Bing, to offer more direct competition to Google.
However, it remains uncertain whether this tool will function independently or be integrated into ChatGPT, reported The Verge.
The development came a year later. Microsoft CEO Satya Nadella, who supports OpenAI, took aim at Google Search by incorporating Copilot AI tools into Bing.
See Also: OpenAI Shatters Records – Here’s How ChatGPT Propelled Revenue Beyond $2B
“I have a lot of respect for Sundar and his team so therefore I just want us to innovate right,” Nadella said at the time.
Adding, “Today was a day where we brought some more competition to search. We’ve been at it, believe me, I’ve been at it for 20 years. I’ve been waiting for it. But look at the end of the day they’re the 800-pound gorilla on this, and I hope that with our innovation they will definitely want to come out and show that they can dance.”
“I want people to know that we made them dance and I think that’ll be a great day,” he stated.
Microsoft first invested $1 billion into OpenAI in 2019 and again in 2021. The tech giant added $10 billion to the investment tally last year.
However, while both OpenAI’s search tool and Bing Copilot aim to compete with Google, they may end up cannibalizing each other to some extent due to their overlapping functionalities and target audiences.
For instance, the platforms are likely to offer similar features such as intelligent search suggestions, natural language processing capabilities, and assistance in completing tasks, making it difficult for users to find that unique selling point or USP.
According to German database company Statista, as of July 2023, Bing holds approximately 10.51% of the global desktop search market, while Google, the leading competitor, commanded around 81.95%. Meanwhile, Yahoo accounted for 2.67% of the market share.
Why It’s Important: Microsoft Bing and Alphabet’s Google Search have an age-old…
Click Here to Read the Full Original Article at Cryptocurrencies Feed…
