OpenAI could announce a new AI-powered search engine as early as Monday. Reuters report. Questions are growing about how the new platform can compete with Google's (GOOG, GOOGL) search engine.
Yahoo Finance Tech Editor Dan Howley joins Catalyst to discuss the latest report on OpenAI.
For more expert insights and the latest market trends, click here to watch the full episode of Catalyst.
This post was written by Nicholas Jacobino
video transcript
Google could face new competition in search, according to Reuters OpenAI. BT, the company behind Chat G, plans to unveil a new AI-powered search engine on Monday.
For more on this, we'll take our own Dan. Dan, thank you so much for being here.
This will be right before an important Google event scheduled for next week.
So what should you expect?
Yeah, this is somewhat predictable, but it's also obviously a huge deal.
So, the idea here is, uh, according to Reuters, uh, we've talked about this before, uh, Bloomberg reported, uh, chatbots essentially get, uh, information. I mean, it's kind of a way of trawling the internet for, um, data for you, and, and then what it gives you is, um, generated content, right?
So it's good for search engines because you can do it naturally, and Google already does this in their search generation experience.
Well, I'm signed up for that beta, or early access.
And I do regular Google searches.
In my app, I see the generated text at the top, a link right below that, and below that also the normal links you get when you do a normal search.
So, that's bing doing this, but for Open AI to do it, it's a much bigger deal just because of how popular Chat GP T is and how high profile it is now. I think that's a problem. Oh, it's behind O Open AI and Chat GP T. So, will this be an alternative to Google?
That's a pretty big opportunity.
Um, Microsoft, as you know, is currently the largest company in the world, uh, in terms of market capitalization, with very little difference in terms of market share, uh, from Google, uh, you know. You literally say this when you Google something.
Um, you're not going to say I'm doing something and you're probably going to say something, um, I chat GP T or whatever they'll call it. there is no.
Um, so, you know, I think it's interesting, but the way they're supposed to announce it on Monday, the day before Google's IO conference, there's probably more news coming out. Their search experience.
So, overall, I think this is something that, like I said, was or was predictable.
Oh, that means a lot to them.
Ah, but it's going to take a lot of effort to ascend to Google Dan's throne.
How reliable is the information?
Because I think a lot of people who use chat GP T, whether it's incidentally or on a daily basis, still have a lot of questions about the reliability of that information. It's from.
So how big of a factor is that when we talk about future growth potential here is probably, you know, what's called an illusion, but it's just, you know, the wrong Information, um, which is probably a more accurate way to describe it properly.
Oh, they haven't done it yet.
That's not to say this isn't still a problem.
Oh, and there are ways companies can mitigate that in some models.
Well, part of it is reducing the size of the model.
That means less information.
Therefore, errors are less likely to occur.
Hmm, I'm more focused.
Um, so those are some of the ways, um, there's also something called a rug that companies use to reduce hallucinations.
But I want to be able to get everything as accurate as possible when it comes to things like search engines.
So if they, in some way, um, did something to completely reduce or almost eliminate this hallucination, um, to see if maybe it has an effect. That would be interesting. Maybe they worked with Microsoft and Bing helped them, or maybe they were doing it themselves and found a way to do it.
Um, but that would be interesting, and obviously, if you're looking for something online, you know, if I'm looking up, um, I don't know, like how to trim a cat's nails.
I don't want to tell you to take the cat off its paw or some weird misinformation.
So, uh, they're going to have to ensure a lot of accuracy there, which is very difficult.
group.
I am always grateful for your help.
And thank you for your help with my dot coming out on Monday.
We apologize for the inconvenience and thank you very much.
Thank you very much.
