Yahoo News Microsoft (MSFT) Launches AI Assistance by Integrating ChatGPT
Microsoft MSFT has announced the integration of Bing Search into OpenAI's ChatGPT in order to provide more relevant and potentially new responses. The company also announced a common plugin platform in collaboration with OpenAI and introduced new plugin partners.
The integration of Bing Search with ChatGPT is a significant step in Microsoft's continuous endeavor to enhance the search experience for its users. This integration enables users to access up-to-date information from the web, accompanied by citations similar to the AI chatbot in Bing search. These citations provide users with the ability to verify the accuracy of the answers they receive.
Microsoft had announced plugins for Bing earlier this month. OpenTable and Wolfram Alpha were the first to leverage it. The company recently added plugins for Expedia, Instacart, Kayak, Klarna, Redfin, TripAdvisor and Zillow.
According to Microsoft, Bing users have participated in more than 500 million chat interactions and generated more than 200 million images using Bing Image Creator. Since the introduction of Bing AI, daily downloads of the Bing mobile app have witnessed an eight-fold increase.
Microsoft Corporation Price and Consensus
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Tech Giants Rush to Capture ChatGPT’s Success
The growing fascination with ChatGPT and generative AI has prompted tech giants to swiftly reconsider and revise its product strategies in order to take advantage of this trend.
ChatGPT has experienced an astonishing surge in user adoption, going from no users to millions within a remarkably short span of time. According to a New York Times report, ChatGPT has surpassed 100 million monthly active users in January. Moreover, it currently attracts around 5 million users daily.
Alphabet’s GOOGL Google has dedicated several years to develop a large language model-based generative AI like ChatGPT.
The company has been at the forefront of pioneering essential components of this technology. One notable project, called LaMDA, has garnered attention, with a Google engineer even suggesting that the program had achieved sentience.
In January, Google showed demos of a new generative AI project that can generate a wide range of music from a user's text prompt.
Facebook-parent Meta Platforms META has heavily invested in AI technology, employing it for various purposes, such as ranking news feed items, content moderation and text translation. However, two recent public demonstrations of Meta's generative AI projects faced challenges. Blenderbot, similar to ChatGPT, received criticism for generating low-quality output and being susceptible to embracing conspiracy theories. Additionally, Galactica, a research-focused project, faced negative reception due to inaccuracies in its performance.
While Amazon.com AMZN harnesses AI technology for various applications like voice recognition in Alexa and warehouse optimization, it has not rushed to embrace generative AI like ChatGPT. According to Business Insider, reports emerged about certain software developers within Amazon utilizing ChatGPT as a coding assistant. However, concerns arose over potential leaks of company secrets, prompting a lawyer to instruct employees not to share corporate information with the AI bot.
Microsoft’s AI Prospects
Shares of Microsoft have gained 31.5% year to date compared with the Zacks Computer and Technology sector’s growth of 27.4%.
This Zacks Rank #3 (Hold) company has announced a range of fresh AI capabilities for its Azure suite, which comprises data management and analytics tools. One notable addition is Microsoft Fabric, a Software-as-a-Service platform. Microsoft Fabric combines Power BI, Data Factory and Azure Synapse Analytics, offering users an integrated solution for their data needs.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In Azure, Microsoft expects revenue growth of 26-27% in cc, including roughly 1 point from AI services, driven by Azure consumption business.
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