Microsoft Stock (NASDAQ:MSFT)
Microsoft (NASDAQ:MSFT) recently announced that its Bing search engine would be driven by artificial intelligence. It is allegedly in talks with advertising firms about the best way to include advertisements on the platform. As a result, Microsoft’s stock declined in the market.
According to Reuters, which cited a person who spoke about the meeting on the condition of anonymity, the discussions, which are still in their preliminary stages, are focusing on Microsoft stock’s ability to demonstrate the new version of Bing to advertisers and then where to place paid links within the search results. This information was gleaned from a person who spoke about the meeting on the condition of anonymity.
On Friday, the analyst Dan Ives from Wedbush Securities said that the monetization of the ChatGPT technology may be worth “at least” around $20 per share to Microsoft over the next 12 to 18 months.
As Microsoft (NASDAQ:MSFT) looks to compete with Google (NASDAQ:GOOGL) in the lucrative market, the company announced earlier this month that it would integrate artificial intelligence technology from OpenAI, the maker of the popular ChatGPT chatbot, into its Bing search engine. OpenAI is the creator of the ChatGPT chatbot.
Microsoft (NASDAQ:MSFT) said during the event that the newest version of Bing can transition to an artificial intelligence conversation mode and may make it simpler to purchase products and services.
Microsoft has introduced a new version of its AI-powered Edge browser, which can summarize web pages and utilize the AI-enhanced version of Bing for chatting and writing. This comes on the heels of the company’s announcement of a new AI-powered Bing search engine.
This week, Microsoft defended the technology behind the new version of Bing despite the company’s praise from industry analysts regarding the new version of the search engine. Several media reports that tested the technology showed it gave bizarre responses, including telling the New York Times that it wanted to “be alive.” Microsoft defended the technology after the reports.
On Friday, in the middle of the trading day, Microsoft stock plummeted by over 2%.
Last week, Microsoft started the rollout of the capability focused on ChatGPT to desktop users of its Bing search engine.
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