Google's AI Bot Mistake Rocks the Market: $100bn in Shares Wiped Out

Google’s AI Bot mistake wipes $100bn in Shares, Google is searching for ways to reassure people that it is still ahead in the race for the best artificial intelligence technology. However, its latest move seems to be backfiring. An advertisement that was meant to showcase the new AI bot resulted in a major setback for the company.

As a result, shares in parent company Alphabet fell by more than 7% on Wednesday, wiping out $100bn from the company’s market value. So, the advertisement was for the AI bot, known as Bard, and it was released on Twitter on Monday. In the advertisement, Bard was asked about discoveries from the James Webb Space Telescope and its response was incorrect:

Consequently, Bard answered that the telescope was the first to take pictures of a planet outside of the earth’s solar system, when in fact, this milestone was achieved by the European Very Large Telescope in 2004. To clarify, this mistake was quickly pointed out by astronomers on Twitter. Chris Harrison, a fellow at Newcastle University, replied to the tweet, “Why didn’t you fact-check this example before sharing it?”

Google’s AI Bot Mistake: Underwhelming Presentation

That is to say, investors were also unimpressed by the company’s presentation on its plans to deploy artificial intelligence in its products. Google has been under pressure since late last year when Microsoft-backed OpenAI introduced new ChatGPT software. In other words, ChatGPT quickly became a viral hit for its ability to pass business school exams, compose song lyrics, and answer questions.

But, Microsoft announced this week that a new version of its Bing search engine, which has lagged behind Google for years, would use the ChatGPT technology in an even more advanced form.

Risks of AI Technology

On the other hand, while investors have embraced the push for artificial intelligence, skeptics have warned that rushing out the technology raises the risk of errors or skewed results, as well as issues of plagiarism. A Google spokesperson acknowledged the error and stressed the importance of a rigorous testing process. They announced that they would be launching the Trusted Tester program this week to combine external feedback with their own internal testing.

For example, “We’ll combine external feedback with our own internal testing to make sure Bard’s responses meet a high bar for quality, safety, and roundedness in real-world information,” the spokesperson said.

Conclusion

Above all, Google AI bot mistake has rocked the market and wiped out $100bn in shares. Most importantly, the company is struggling to find ways to reassure people that it is still ahead in the race for the best artificial intelligence technology. Certainly, while the push for AI technology has been embraced by investors, skeptics have warned about the risks involved in rushing out the technology. In short, Google has acknowledged the error and is taking steps to ensure the quality and safety of its AI technology through the Trusted Tester program.