Just as online search engines carried our curiosity from library shelves to computer screens, Chat GPT Undoubtedly, it has reshaped how people around the world search for answers to their questions.
Since its launch in 2022, OpenAI's creative artificial intelligence chatbot ChatGPT has popularized AI. Similar chatbots from different companies Born: Anthropologie's Cloud, Google's Gemini, Microsoft's Copilot. Anyone in Silicon Valley has either invested in, developed or integrated AI into their work.
But it looks like ChatGPT isn't going to dethrone the “classic” Internet search engines—namely, their king, Google Search—anytime soon. While analysts feared that creative AI would kill Google Search, the exact opposite is true. Increased advertising revenue from Google Search Helped increase Google's profits by nearly 60 percent in the first trimester. And Bank of America analysts said Monday that Google's global search market share rose to 91.1 percent in June, even as chat GPT Web visits fell 12 percent.
Google Search is not necessarily a replacement for AI. In fact, Bank of America analysts Justin Post and Nitin Bansal said Google Search is expanding its footprint. Because Google's AI Overview of AI – Despite hiccups in their initial rollout – “Can help the development of the inquiry,” he said. Post and Bansal added that the more Google integrates its AI, called Gemini, into existing products like Google Cloud and Google Search, the better those products will perform.
“We remain positive on the growing Gemini integration across the Google ecosystem and believe that a wider rollout of AI review will likely support greater usage, while AI integration can increase monetization across Google.”
But what's good news for Google's pockets is bad news for antitrust compliance. The Justice Department just wrapped it up. Historic Antitrust Case Against Google In May, the company was accused of monopolizing the digital search market. A decision is expected in late 2024.. Google faces yet another antitrust lawsuit from the US government. The filing was filed in January last year on allegations that the company engaged in anti-competitive activity in the digital advertising space. The fact that Google is increasingly dominating the search market may not sit well with antitrust regulators.