Alphabet's (GOOG, GOOGL) company Google is scheduled to hold its much-anticipated I/O developer conference on Tuesday, where the tech giant is expected to announce new AI products.
This development follows Apple's (AAPL) recent announcement of its updated iPad lineup with new AI features. Additionally, OpenAI has introduced a new version of its ChatGPT bot that can listen to audio and communicate verbally.
Yahoo Finance's Seana Smith and Brad Smith detail tech companies' growing investments and strategic approaches to AI.
For expert insights and the latest market trends, click here to watch the full episode of Morning Brief.
This post was written by angel smith
video transcript
As always, this is all about me on Wall Street.
Following Apple's iPad launch event last week, Google is in full force today at the IO Developer conference, where the company is expected to announce new A i products for its services.
Meanwhile, while Apple and Google are converting their voice assistants into chatbots, Open AI is converting its own chatbots into voice assistants.
The company just announced a new chat GP T that hears, sees, and speaks.
OK, now we're one step closer to Black Mirror.
But ultimately I think it continues to really show us how much capital investment is going into these generative AIs. What we heard on Microsoft's earnings call about the ambitions of Meta Platform Alphabet and the companies and how they all expect this first quarter spending to be probably the bottom of the spending that they continue to propose here and their investment. Revenue from is the key.
And I'm looking at one of the specific studies around Deloitte's Digital Media Trends study and the return on investment that these companies are looking for within their organizations for productivity, scaling up growth, or hyper-scaling. Ta.
UM, many of these companies will actually end up spending billions of dollars. Frankly, some of the major investments in the production of I have been allocated and put into place and we're really going to see the results in the near future. period.
But it's a long-term bet.
And I think the pressure on Google is right. On the heels of the Open a I announcement that you talked about yesterday, and on the heels of reports that Apple is actually partnering with Open AI here, we're going to be announcing what Google is announcing today. Of course, that was seen as a loss for Alphabet.
Yesterday's trading behavior showed this.
It's down a little bit earlier today, but I think Apple or excuse me Alphabet could have a surprise upside here.
There are expected to be some new features announced here that will get the city excited enough to get analysts excited about the search business and its integration with the broader ecosystem.
Bank of America writes here that this event could help solidify Google and the Android ecosystem's case as pure A beneficiaries.
So it remains to be seen what we'll hear next.
It should also be noted that this comes ahead of a fairly big announcement that Apple is expected to make next month to talk about its AI strategy.
I think the criticism when it comes to Alphabet is that it's still behind Microsoft when it comes to options for a I efforts. this weekend.
As for Google's stock, post this announcement here about 3%.
