OpenAI may potentially unveil its new AI-powered search engine as soon as Monday, Reuters reports. Questions about how the new platform could compete with Google’s (GOOG, GOOGL) search engine are growing.
Yahoo Finance Tech Editor Dan Howley joins Catalysts to break down the latest report regarding OpenAI.
For more expert insight and the latest market action, click here to watch this full episode of Catalysts.
This post was written by Nicholas Jacobino
Video Transcript
Google might be facing some new competition in the search space according to Reuters open A I, that’s the company behind Chat G BT is set to announce its new A I powered search engine as soon as Monday.
For more on this, we’re going to bring in our own Dan, how Dan, thanks so much for being here.
This would be just ahead of a key Google event that we know is coming up next week.
So what should we anticipate?
Yeah, man, this is something that uh is somewhat uh almost predictable uh but also uh obviously a massive deal.
And so the, the, the thinking here uh according to Reuters and uh there was previously talk of this uh reported by Bloomberg is that the uh chatbot essentially is a way of kind of, you know, trawling the internet uh for information to pull up uh data for you and, and, and give you uh uh you know, generated content, right?
So, because you can do that naturally, it’s a, it’s a good fit for uh search engines and look, Google is doing this already with their search generative experience.
Um I’m signed up for the, the betas for that uh uh or the early access.
And I do a regular Google search.
And uh in my, my app, I get generative uh text at the top uh and then links uh at the uh just below that and then the regular uh links that you would get when you did a normal search uh below those as well.
So, uh it’s something that’s around bing has been doing this but for open A I to do it, I think is, is a much bigger deal just because of how popular chat GP T is and because of how uh much name recognition there is now, uh behind O Open A I and Chat GP T. And so, you know, is this going to be something that would replace Google?
That’s a pretty big long shot.
Um You know, Microsoft is, you know, the, the biggest company in the world right now, um in terms of market cap and they are barely making a dent at all when it comes to market share uh from Google, uh you literally say I Google something.
Um You don’t say I bing something and you probably aren’t gonna say I, you know, chat GP T or whatever they’re gonna call it, uh something.
Um And so, you know, I, I do think that it is interesting though, the way that they’re supposed to announce it uh on Monday just a day before Google’s IO conference where they’re probably gonna have a lot more news on their search experience.
So I think overall this is something that, you know, is, like I said, was predictable or is predictable.
Uh It makes a lot of sense for them.
Um, but it’s, it’s gonna take a lot of work to try to the throne Google Dan.
How reliable is the information?
Because, um, I, I think a lot of people who even use chat GP T whether it’s casualty or even daily, there are still a lot of questions about the reliability of that information.
So how big of a factor is that going to be when we talk about the potential here for future growth, maybe look, uh you know, hallucinations as, as they’re called, which is just, you know, wrong information, um which is probably a more accurate way to describe it properly.
Uh They still haven’t, right.
So it’s not as though this isn’t uh uh uh an issue still.
Uh there are ways that that companies are, are mitigating it in, in some of their models.
Uh Part of that is to shrink down the size of the model.
So there’s less of a, uh you know, there’s not as much information.
So there’s a smaller chance of, of an error.
Um It’s more focused.
Um And so that’s some of the ways uh there’s also something called rag uh that companies are using to help cut down on hallucinations.
But, you know, I, I think when it comes to, to something like, like a search engine, you know, you want to make sure that you’re getting everything as accurate as possible.
And so it’ll be interesting to see if they, if they’ve done something uh in some way to, to, you know, either fully cut down or, or nearly eliminate, uh, you know, these hallucinations, uh maybe work with Microsoft and, and Bing uh has helped them or maybe they’re just doing it on their own and they figured out how to do it.
Um But you know, it, it will be interesting and obviously if you’re looking for something online, you know, if I’m looking up, uh I don’t know, like how to cut my cat’s nails.
I don’t want it to say take your cat’s feet off or something like that, you know, like some kind of weird wrong information.
So, uh it, they’re going to have to ensure that there’s a lot of accuracy there that would be painful feet off.
Dan.
Thank you so much as always.
And thanks for all your help on my dot Coming out on Monday too.
I’ve been annoying you, so I really appreciate you.
Thank you so much.