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Alphabet (GOOGL) Enhances Image Generation With Imagen 2
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Alphabet’s (GOOGL - Free Report) Google is bolstering its image generation capabilities on the back of generative AI.
Google recently launched the second generation of its image generator model, Imagen.
Notably, Imagen 2, widely available for Vertex AI customers, offers an improved image quality to help organizations create brand-specific images with enterprise-grade reliability and governance, ensuring customer satisfaction.
Further, it boasts features like natural language prompt generation, text rendering in multiple languages, logo generation, and visual question and answering for caption generation and informative text responses.
Additionally, Imagen 2 uses DeepMind's SynthID to apply invisible watermarks to images, ensuring they comply with Google's Responsible AI principles and include safety filters.
The company's recent move is expected to gain solid traction among various corporate clients. Already companies like Canva and Shutterstock have shown interest in Imagen 2.
Apart from the latest launch, Google updated its AI-powered conversational search feature, Search Generative Experience, with new image generation capabilities, allowing users to specify image types and create new ones.
Further, Google integrated generative AI into image creation for Google Ads, allowing advertisers to create images directly within the web interface for Performance Max campaigns.
All the above-mentioned endeavors will likely strengthen Alphabet’s presence in the global AI image generator market. This, in turn, will strengthen its footing in the global generative AI space.
Per a Global Market Insights report, the global AI image generator market size is expected to witness a CAGR of 16.5% between 2023 and 2032.
A Fortune Business Insights report indicates that the global generative AI market size is expected to reach $667.96 billion by 2030, indicating a CAGR of 47.5% between 2023 and 2030.
Strength in these promising markets will likely aid Alphabet to strengthen its overall financial performance in the upcoming period and instill investor optimism in the stock.
Our model estimate for fourth-quarter 2023 total revenues is pegged at $81.95 billion, indicating year-over-year growth of 7.8%.
Alphabet has gained 50.3% on a year-to-date basis compared with the industry’s growth of 51.3%.
Intensifying Competition
We note that the aforementioned launches will allow this Zacks Rank #3 (Hold) company to strengthen its competitive edge against rivals like Microsoft (MSFT - Free Report) , Amazon (AMZN - Free Report) and Adobe (ADBE - Free Report) , which are also making strong efforts to bolster their image generation capabilities with generative AI.
Microsoft is riding on the success of OpenAI's DALL-E 3 AI image-synthesis model, which is fully integrated with ChatGPT, enhancing complex descriptions and text generation.
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, Amazon recently unveiled Titan Image Generator, a generative AI model that can create new or customize existing images, currently available in preview on Bedrock's AI development platform.
Titan Image Generator uses English natural language prompts to create realistic images for advertising, e-commerce and media. It generates multiple image options based on text descriptions, understands complex prompts and uses high-quality data for accurate outputs.
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.
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Alphabet (GOOGL) Enhances Image Generation With Imagen 2
Alphabet’s (GOOGL - Free Report) Google is bolstering its image generation capabilities on the back of generative AI.
Google recently launched the second generation of its image generator model, Imagen.
Notably, Imagen 2, widely available for Vertex AI customers, offers an improved image quality to help organizations create brand-specific images with enterprise-grade reliability and governance, ensuring customer satisfaction.
Further, it boasts features like natural language prompt generation, text rendering in multiple languages, logo generation, and visual question and answering for caption generation and informative text responses.
Additionally, Imagen 2 uses DeepMind's SynthID to apply invisible watermarks to images, ensuring they comply with Google's Responsible AI principles and include safety filters.
The company's recent move is expected to gain solid traction among various corporate clients. Already companies like Canva and Shutterstock have shown interest in Imagen 2.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Enhancing Image Generation With Gen AI
Apart from the latest launch, Google updated its AI-powered conversational search feature, Search Generative Experience, with new image generation capabilities, allowing users to specify image types and create new ones.
Further, Google integrated generative AI into image creation for Google Ads, allowing advertisers to create images directly within the web interface for Performance Max campaigns.
All the above-mentioned endeavors will likely strengthen Alphabet’s presence in the global AI image generator market. This, in turn, will strengthen its footing in the global generative AI space.
Per a Global Market Insights report, the global AI image generator market size is expected to witness a CAGR of 16.5% between 2023 and 2032.
A Fortune Business Insights report indicates that the global generative AI market size is expected to reach $667.96 billion by 2030, indicating a CAGR of 47.5% between 2023 and 2030.
Strength in these promising markets will likely aid Alphabet to strengthen its overall financial performance in the upcoming period and instill investor optimism in the stock.
Our model estimate for fourth-quarter 2023 total revenues is pegged at $81.95 billion, indicating year-over-year growth of 7.8%.
Alphabet has gained 50.3% on a year-to-date basis compared with the industry’s growth of 51.3%.
Intensifying Competition
We note that the aforementioned launches will allow this Zacks Rank #3 (Hold) company to strengthen its competitive edge against rivals like Microsoft (MSFT - Free Report) , Amazon (AMZN - Free Report) and Adobe (ADBE - Free Report) , which are also making strong efforts to bolster their image generation capabilities with generative AI.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Microsoft is riding on the success of OpenAI's DALL-E 3 AI image-synthesis model, which is fully integrated with ChatGPT, enhancing complex descriptions and text generation.
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, Amazon recently unveiled Titan Image Generator, a generative AI model that can create new or customize existing images, currently available in preview on Bedrock's AI development platform.
Titan Image Generator uses English natural language prompts to create realistic images for advertising, e-commerce and media. It generates multiple image options based on text descriptions, understands complex prompts and uses high-quality data for accurate outputs.
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.