Google Stock Jumps As Puts Artificial Intelligence Into Google Docs
- Google has announced generative AI helpers will be coming to its Workspace suite of apps – though no release date was forthcoming
- Alphabet stock prices jumped up 3.14% in trading after the announcement
- The stock price increase follows news that Microsoft’s Bing hasn’t eaten into Google’s search engine dominance
The AI wars have taken another turn as Google takes another step forward. The Big Tech stalwart and historic AI pioneer has announced it will introduce a generative AI tool for its Workspace suite of apps including Google Docs, Sheets and Meet.
While the statement failed to mention any launch date of the AI product, Wall Street still responded positively, with an uptick in Google’s stock price by the end of Tuesday.
The move comes as Microsoft remains aggressive in its approach to AI, with its partnership with OpenAI producing fruitful stock market gains since the start of the year. Let’s get into the details.
As the AI wars heat up, you can harness the same technology for your portfolio. Q.ai’s Investment Kits use AI to stay ahead of the curve across traditional stocks, ETFs, commodities and other assets. Our unique algorithm sifts through the data and highlights emerging trends, so you don’t have to.
Want to stay on top of cutting-edge technology? Our Emerging Tech Kit focuses on investing in tech companies, ETFs and cryptocurrencies poised for growth, balanced weekly by our AI technology to capitalize on trends and deliver returns.
Download Q.ai today for access to AI-powered investment strategies.
Google’s latest play for investors
The search engine giant announced yesterday that it would introduce generative AI features to its Workspace suite, which encompasses Google Docs, Slides and Sheets among a host of other applications.
The announcement is full of promises to make users’ lives easier, more streamlined and get work done faster. A demo video for the announcement shows AI as a collaborative partner by summarizing email chains, drafting user responses, building presentations and taking notes in meetings.
The press release stressed human control would be a top priority for the release, with users able to reject and amend AI suggestions before the changes are confirmed.
When do the new features launch?
Here’s the kicker: Google is deliberately vague on when the generative AI capabilities would launch. “We will be bringing these new generative-AI experiences to trusted testers on a rolling basis throughout the year,” was the official line in the press release – so we’re still potentially years away from seeing this tech released to the public.
Google clearly wanted to pre-empt any criticism around its timeline. “Getting this right — and at scale — is something we take very seriously,” it noted, citing careful testing needed for safeguarding and data privacy.
The problem is that other companies are already way ahead of the curve. After a successful alpha launch, the all-in-one productivity tool Notion recently launched its generative AI feature to all users.
There’s also been a lot of hype around Microsoft’s $10bn investment into OpenAI since it launched its ChatGPT chatbot to the public in November last year. Microsoft has already integrated the technology into its search engine Bing, plus OpenAI announced its new GPT-4 model yesterday, which saw Microsoft’s share price climb 2.71%.
How Google’s stock has fared
Despite the relative snail’s pace from Google, investors have responded positively to the news, with Alphabet stock prices hitting $93.97 by the end of Tuesday trading hours – a 3.14% gain in one day. This builds on Monday’s small rally after some positive market share news emerged.
A new analysis revealed that Microsoft’s big bet on OpenAI has been more bark than bite. Since the launch of ChatGPT in November 2022, which has generated over 100m users faster than any product in history, Google’s search share has remained stable – and has even made slight gains. Stock prices were up 2.1% at the analysis.
While Google can’t rest on its laurels, Wall Street is likely counting on the company’s market share to see it through the AI wars. With well over 90% of the search engine market cornered, the uptake of Google’s AI products to such a captive market will significantly impact who comes out on top.
Of course, with other major players looking to take a bite out of Google’s market share, anything could happen in the months leading up to its eventual AI features release. While investors might be happy with this latest announcement, Google had better get a release date on the cards – and fast – to keep them on its side.
A welcome shift in Wall Street sentiment for Google
This will all be welcome news to Google, which has had a rocky start to the AI wars. Google, which has pioneered AI technology for years, allegedly issued an internal ‘code red’ after ChatGPT’s release.
Last month Microsoft held a slick press conference at its Seattle headquarters to launch Microsoft Bing’s ChatGPT integration. Overall, the stock is up 10.3% since its partnership with OpenAI was announced.
In comparison, Google’s launch of its Bard feature was a disaster. Its launch video had an inaccurate answer included, which was a costly mistake: over $100bn was wiped off of Google’s stock value thanks to the error.
What else could affect Google’s stock price?
The conglomerate is set to release its Q1 earnings at the end of April. Early estimates show positive gains for Google, with Zacks pegging a full-year revenue prediction of $246.7bn – a 5.48% increase, should it play out.
Google might be planning for sunny skies, but some clouds may be on the horizon. The Supreme Court will release its judgment on Gonzalez v. Google, which could see Section 230, a decades-old legal protection for third-party liability, removed for all of Big Tech.
Should the ruling not be in Google’s favor, it could spend billions on a tangle of class-action lawsuits from claimants seeking damages – and the stock price would undoubtedly take a hit.
Rumors are also beginning to swirl around CEO Sundar Pichai and how long his tenure will last after Microsoft got the jump in the AI wars. Founders Larry Page and Sergey Brin are reportedly taking more active roles in the company since Microsoft forged ahead with its Bing AI launch.
Pichai has faced criticism for being too slow off the line with AI and not urgent with his response since. Some employees and shareholders now suggest it’s time for him to go.
This could affect Google’s stock price – any new installment of a CEO is risky – but it depends on who it is. If Page and Brin decided to return to the helm, they’d likely be welcomed with open arms and Alphabet stock prices could remain unaffected.
The bottom line
Google may be a bit behind the eight ball when it comes to consumer facing AI, but the war is far from done yet. And this is the challenge with investing in technology companies. They can offer huge gains, but it’s hard to know who’s going to come out on top.
For investors, that makes trying to pick stocks particularly challenging. Luckily, there is another way.
If you want your portfolio to be as trailblazing as the latest technology on the market, Q.ai’s Emerging Tech Kit all use AI to analyze and predict the returns and volatility across a range of different tech verticals, namely tech ETFs, large cap tech stocks, growth tech stocks and crypto.
It then automatically rebalances the Kit in line with projections, every single week.
Worried about high-risk strategies? Our Foundation Kits have Portfolio Protection as an option, which safeguards your portfolio using top-end hedging strategies to protect your gains.
Download Q.ai today for access to AI-powered investment strategies.
Absolutely BROKEN Necromancer Gameplay – Diablo 4 Beta – IGN
Counter-Strike 2 may immediately end matches with cheaters – GamesHub
Counter-Strike 2 (CS2), the next evolution of Valve’s, long-running, ever-popular, and lucrative tactical first-person shooting game was revealed in mid-March 2023. But beyond several visual improvements and refinements to the high-stakes game, it appears as if the company is taking the opportunity to implement far stricter measures to counteract cheaters, who utilise third-party tools to gain an unfair advantage.
As spotted by Twitter user Aquarius and reported on by PC Gamer, a line in the source code of CS2 has indicated a new feature that will immediately cancel an in-progress match of Counter-Strike 2 if a player is detected using cheating tools.
The code, which appears to outline the conditions for certain notifications to pop up in-game, includes the phrases ‘Cheater Detected’ and ‘This match has been cancelled by VAC Live’.
‘VAC’ in this instance, of course, is an abbreviation for Valve Anti-Cheat, the company’s proprietary cheat monitoring solution. VAC was first introduced with Counter-Strike in 2002.
As PC Gamer astutely notes, this appears to be Valve taking a page out CS2’s closest competitor at the moment, Valorant, developed by Riot Games. Riot’s anti-cheat measures have included match cancellations since the game’s launch.
Counter-Strike has always been a game with high stakes, requiring exceptional levels of player investment and focus to succeed. Having your multiplayer experience ruined by a lopsided, unfair match can be incredibly demoralising, especially if you’re stuck in it for some time before you can move on. If Valve’s new anti-cheat measures do go ahead, it can only be a positive thing.
Don’t cheat in multiplayer games. That’s a loser move.
Counter-Strike 2 will launch on PC sometime in mid-2023.
Microsoft Ends $1 Xbox Game Pass Offer For First Month of Use – Kotaku
Microsoft’s long-running introductory offer for its Xbox Game Pass subscription platform, which let users try the service out for $1 for the first month before moving onto more expensive payments, has finally come to a close.
As The Verge report, the deal—which applied to both Xbox Game Pass Ultimate and the PC Game Pass—has recently been pulled, with a Microsoft spokesperson saying “We have stopped our previous introductory offer for Xbox Game Pass Ultimate and PC Game Pass and are evaluating different marketing promotions for new members in the future”.
What those “different marketing promotions” could be is anyone’s guess, though given the whole point of the $1 deal was get new users on the hook, a natural successor could easily be the Xbox Game Pass Friends and Family scheme, which while still unavailable in the US has been tested in a number of international markets since late 2022.
Anyone signed up for Game Pass will see months from existing subscriptions converted into partial months on the sharing plan. If you’re currently signed up for Xbox Game Pass Ultimate, every remaining month will turn into 18 days of Game Pass Friends and Family. Those signed up for the piecemeal tiers will see their subscriptions convert into 12 days of Game Pass Friends and Family.
There are some limitations, however. If you’re the account holder, you can only have four additional people on an account at any given time, and can only share with eight unique accounts over the course of a calendar year. And it’s region-locked: The primary account holder can only add members who live in the same country or region.
While that’s not a 1:1 replacement for the $1 offer, which was just a good deal for anyone, it does mean folks recommending Xbox Game Pass to friends or family would have a pretty easy way to get them onboard via their own account.
It sucks to see the $1 deal go away, since I’m sure many/most of you took advantage of it, but if you weren’t ready for the time Xbox decided to start doing stuff like this, you have not been paying enough attention to TV and sports over the last five years.
Judge Ron DeSantis By His Actions – The Atlantic
How Trump's indictment interlude has changed America's political landscape – The Globe and Mail
Absolutely BROKEN Necromancer Gameplay – Diablo 4 Beta – IGN
Silver investment demand jumped 12% in 2019
Iran anticipates renewed protests amid social media shutdown
Search for life on Mars accelerates as new bodies of water found below planet’s surface
Investment16 hours ago
First Republic Bank Stock: Why I Am Sticking To My Investment (NYSE:FRC)
Investment17 hours ago
The A.I. boom could also give a boost to these investing trends. How to play it
News23 hours ago
Biden visit: Trump calls Canada-U.S. deals ‘horrible’
Business15 hours ago
Thousands without power after Ontario windstorm
Sports22 hours ago
Despite 17 birdies, Rory McIlroy needs two trips to ‘friendly’ No. 18
News19 hours ago
Canada is set for its largest alcohol tax increase yet. Here’s what to know
Health18 hours ago
HPHA to close COVID, cold and flu clinics
Media16 hours ago
Utah is first US state to limit teen social media access