Sunday, 1 October 2023

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Google (NASDAQ:GOOG) Expands Bard’s AI Capabilities – TipRanks Financial Blog

Google (NASDAQ:GOOG) Expands Bard’s AI Capabilities – TipRanks Financial Blog

The artificial intelligence arms race continues to heat up. Google (NASDAQ:GOOG) (NASDAQ:GOOGL) is expanding the capabilities of its AI chatbot Bard to the company’s other digital offerings, such as Gmail, Maps, and YouTube.

With a new English-only extension, users can now enable Bard to source information from their Gmail accounts and other Google products. This means Bard can execute a wide array of tasks, ranging from mining documents on Google Drive to looking up travel info on Google Flights.

However, this expanded capability could encroach on user privacy, and the tech giant is prohibiting its human reviewers from seeing the information Bard extracts from other Google solutions.

This move from Google comes amid similar moves from Microsoft (NASDAQ:MSFT) to integrate AI solutions into its family of applications.

Tech companies are making progress with AI while governments struggle to keep up. Indeed, the U.S. Justice Department has accused Google of monopolizing the search market. In addition, the UK’s Competition and Markets Authority (CMA) has outlined seven principles to promote safer development and use of AI and prevent market domination by a few companies.

Is Google a Good Stock to Keep?

Overall, the Street has a consensus price target of $145.50 for Alphabet, accompanied by a Strong Buy consensus rating. Shares of the company have gained nearly 55% so far this year.

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