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Alphabet (GOOGL) Boosts Search Experience With New AI Updates
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Alphabet’s (GOOGL - Free Report) Google introduced new updates to its generative AI-powered conversational search feature, Search Generative Experience (SGE).
Notably, the recent updates include features like alternate drafts and image generation.
The new draft writing feature enables the output of various writing types, including longer or shorter versions, and the tone can be adjusted to suit different needs.
Moreover, this feature, built on SGE’s ability to serve as a writing assistant, enables users to export writing to Google Workspace.
The new AI image generation feature, on the other hand, allows users to specify image types and receive four results in a conversational experience, which can be downloaded as .png files or edited.
Additionally, this new image generation feature allows users to create new images if they can't find the desired photo within the search results.
With the above-mentioned features, Google strives to deliver an enhanced search experience to users. This, in turn, will likely boost traffic on the company’s search platform.
The latest move is likely to aid Alphabet’s competitive position against some notable industry players like Microsoft (MSFT - Free Report) , Meta Platforms (META - Free Report) and Adobe (ADBE - Free Report) , which are also making continuous efforts to integrate generative AI capabilities into their image generation tools.
Microsoft is riding on the success of OpenAI’s new image creator model, DALLE-E.
Notably, Microsoft added this AI-powered image generator model on desktop, allowing Edge users to create specific visuals for social media posts, slideshows and documents.
Moreover, Microsoft integrated Bing with DALL-E 3, improving renderings for details like fingers, eyes and shadows, and enhancing Bing Chat's search query capabilities by using users' previous chats for personalized responses.
Meanwhile, Meta Platforms rolled out I-JEPA, a human-like AI image generation model, which is more effective than generative models due to its reliance on background knowledge and context.
Further, Meta’s release of CM3leon, a multimodal model that performs both text-to-image and image-to-text generation, remains noteworthy.
Adobe, on the other hand, is enjoying the growing momentum of its AI image generator, Adobe Firefly.
Notably, Adobe unveiled the Firefly Image 2 Model, Firefly Vector Model, and Firefly Design Model to mark a significant advancement in its creative generative AI model family, enhancing creative control, image quality and illustrator capabilities.
Generative AI Holds Promise
We mark the latest move as Alphabet’s growing efforts to integrate generative AI capabilities into its products and services.
Apart from the latest move, Alphabet is set to launch a virtual assistant called Assistant with Bard, powered by its Bard artificial intelligence technology, to assist users with complex tasks, with the feature set to be available in a test phase.
Further, GOOGL is set to launch its conversational AI software, Gemini, which offers chatbot optimization, text summarization, content generation, email drafts, music lyrics and news articles for personalized content creation.
Additionally, Alphabet introduced AI-powered features for YouTube creators, including Dream Screen for video backgrounds, production tools for editing, and YouTube Create for editing, captioning, voiceover, filters and royalty-free music.
We believe that the above-mentioned endeavors are likely to strengthen Alphabet’s presence in the booming generative AI space.
Per an Allied Market Research report, the global generative AI market is expected to reach $191.8 billion by 2032, witnessing a CAGR of 34.1% between 2023 and 2032.
Strength in the promising generative AI market will aid this Zacks Rank #3 (Hold) company to strengthen its overall financial performance in the upcoming period and instill investor optimism in the stock.
Image: Bigstock
Alphabet (GOOGL) Boosts Search Experience With New AI Updates
Alphabet’s (GOOGL - Free Report) Google introduced new updates to its generative AI-powered conversational search feature, Search Generative Experience (SGE).
Notably, the recent updates include features like alternate drafts and image generation.
The new draft writing feature enables the output of various writing types, including longer or shorter versions, and the tone can be adjusted to suit different needs.
Moreover, this feature, built on SGE’s ability to serve as a writing assistant, enables users to export writing to Google Workspace.
The new AI image generation feature, on the other hand, allows users to specify image types and receive four results in a conversational experience, which can be downloaded as .png files or edited.
Additionally, this new image generation feature allows users to create new images if they can't find the desired photo within the search results.
With the above-mentioned features, Google strives to deliver an enhanced search experience to users. This, in turn, will likely boost traffic on the company’s search platform.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Stiff Competition
The latest move is likely to aid Alphabet’s competitive position against some notable industry players like Microsoft (MSFT - Free Report) , Meta Platforms (META - Free Report) and Adobe (ADBE - Free Report) , which are also making continuous efforts to integrate generative AI capabilities into their image generation tools.
Microsoft is riding on the success of OpenAI’s new image creator model, DALLE-E.
Notably, Microsoft added this AI-powered image generator model on desktop, allowing Edge users to create specific visuals for social media posts, slideshows and documents.
Moreover, Microsoft integrated Bing with DALL-E 3, improving renderings for details like fingers, eyes and shadows, and enhancing Bing Chat's search query capabilities by using users' previous chats for personalized responses.
Meanwhile, Meta Platforms rolled out I-JEPA, a human-like AI image generation model, which is more effective than generative models due to its reliance on background knowledge and context.
Further, Meta’s release of CM3leon, a multimodal model that performs both text-to-image and image-to-text generation, remains noteworthy.
Adobe, on the other hand, is enjoying the growing momentum of its AI image generator, Adobe Firefly.
Notably, Adobe unveiled the Firefly Image 2 Model, Firefly Vector Model, and Firefly Design Model to mark a significant advancement in its creative generative AI model family, enhancing creative control, image quality and illustrator capabilities.
Generative AI Holds Promise
We mark the latest move as Alphabet’s growing efforts to integrate generative AI capabilities into its products and services.
Apart from the latest move, Alphabet is set to launch a virtual assistant called Assistant with Bard, powered by its Bard artificial intelligence technology, to assist users with complex tasks, with the feature set to be available in a test phase.
Further, GOOGL is set to launch its conversational AI software, Gemini, which offers chatbot optimization, text summarization, content generation, email drafts, music lyrics and news articles for personalized content creation.
Additionally, Alphabet introduced AI-powered features for YouTube creators, including Dream Screen for video backgrounds, production tools for editing, and YouTube Create for editing, captioning, voiceover, filters and royalty-free music.
We believe that the above-mentioned endeavors are likely to strengthen Alphabet’s presence in the booming generative AI space.
Per an Allied Market Research report, the global generative AI market is expected to reach $191.8 billion by 2032, witnessing a CAGR of 34.1% between 2023 and 2032.
Strength in the promising generative AI market will aid this Zacks Rank #3 (Hold) company to strengthen its overall financial performance in the upcoming period and instill investor optimism in the stock.
You can see the complete list of today’s Zacks #1 Rank stocks here
Our model estimate for 2023 total revenues stands at $300.45 billion, indicating growth of 6.2% from 2022.
Notably, Alphabet has gained 57.5% on a year-to-date basis compared with the industry’s growth of 56.8%.