Black Friday Sale! Save huge on InvestingProGet up to 60% off

Google parent Alphabet turns lower as ChatGPT adds search function

Published 10/31/2024, 01:09 PM
© Reuters
MSFT
-
GOOGL
-
GOOG
-

Investing.com -- Alphabet Inc. shares slipped about 1% Thursday as OpenAI's ChatGPT introduced a new search capability, increasing competition with Google by allowing users to find information directly through the chatbot.

According to a report by The Wall Street Journal, beginning today for paying subscribers, the newly launched feature will enable ChatGPT to search the web and summarize content from trusted sources, presenting a streamlined alternative to conventional search engines like Google.

Powered by Microsoft (NASDAQ:MSFT)'s Bing's search engine, the feature also taps into content from media partners like The Wall Street Journal and the Associated Press.

Currently available for paid ChatGPT Plus and Team users, OpenAI's search mode is slated for wider release.

Varun Shetty, OpenAI's head of media partnerships, stated that the search functionality "improves relevancy and decreases hallucinations," offering more accurate and reliable answers to user queries.

Since its debut, ChatGPT has quickly gained popularity, leading some investors to speculate that it could begin to replace traditional search engines.

In response, Google has ramped up its AI-powered features, including AI summaries and cited sources in search results, which now appear for over a billion Google users globally.

Nevertheless, Alphabet (NASDAQ:GOOGL) remains the dominant player, as over a billion people still rely on Google for online information.

ChatGPT's enhanced functionality arrives ahead of key events, such as the upcoming U.S. presidential election, where search engines play a critical role in helping users find information.

According to the WSJ, OpenAI has committed to directing election-related queries to sources like Reuters and the Associated Press to maintain information quality.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.