After dotcom, blockchain time for AI - the madness in the market continues

It is estimated that Chat GPT created by OpenAI reached 100 million active users in two months. This means breaking a record TikTok, which needed 9 months to achieve this, breaking the previous record of Instagram (30 months).

AI boom

The concept of AI is storming into the mainstream and will probably stay with us for longer this year and in the years to come, opening the door for technology companies to become even bigger. He announced his investment of USD 10 billion in ChatGPT Microsoft, which already invested USD 2019 billion in 1 OpenAI, a company founded by Elon Musk and Sam Altman. Microsoft's cloud services division also provides the computing power that AI needs. So MSFT is backing ChatGPT as well as taking on the fight to dethrone Google as the top search engine by adding smart search features to Bing. The company announced the details during a press conference on February 7. MSFT officials said that Bing will allow natural search in the form of chat. Bing is set to run on a new language model that is even more powerful than ChatGPT. Microsoft is also refreshing the Edge browser, which is now expected to be powered by AI. However, this is probably not the end of applications for Microsoft. Google, in turn, whose future was discussed in January, due to the growing popularity of the tool supported by Microsoft, does not remain passive.

Perhaps pressed against the wall A had to share with the world that he was also going to battle in the field of AI and had to speed up work on it. We are talking about LAMDA. Already in August 2022, there were mentions that Google was starting to test an experimental chatbot. However, at that time, only people from the industry knew the subject, not the broad market. In turn, the beginnings of the project date back to 2020. Why did Google wait so long to be pressed by the competition?

Market rumors claim that LaMDA was never released for public use because the AI ​​chatbot's conversational platform did not work with Google's current advertising strategy, which generated 81% of its revenue in 2021. The AI ​​chatbot is known to mimic human speech from the internet and distribute some types of hate speech, fake news, racist and a high degree of information inaccuracy, which may result in threats to reputation. The LaMDA AI platform is currently not available to the general public and is only available to selected AI developers. Currently, Google has no choice. Bard is supposed to be based on LaMDA, as Sundar Pichai said on Monday. His company will start collecting feedback from beta testers on the conversational AI service. The company wants to introduce the chatbot to a wider audience in a few weeks. According to investing.com, Pichai stated in a blog post on Monday that Bard would be learning from the Internet, matching the capabilities of Google's search function.

Another company entering the topic of AI and chatbots is the Chinese giant Baidu. The company said that after starting work in 2019, it is close to completing testing in March on a tool called Ernie (Enhanced Representation through Knowledge Integration). The company added that Ernie can perform tasks such as language comprehension, language generation, and text-to-image generation. Perhaps this tool will be able to compete with ChatGPT.

AI mania in action

In addition to technological development, where UBS estimates that the value of the AI ​​industry will reach a trillion dollars, a mania for the purchase of assets related to artificial intelligence, operation, name or use of this technology has begun on the markets. One of the first companies to grow on the basis of AI was BuzzFeed. The company said it wanted to use AI to create content for users, and the stock price shot up from $1 to $4. This increase is now being corrected to $1,76.

Another company is C3.AI, whose share price has increased by 117% since the beginning of the year. At its peak, the share price soared from around $10 to over $30. It currently seems to be trading around $24. This company cooperates with Shell and the US Air Force, providing solutions based on AI.

Baidu's share price rose about 7% on the NYSE on February 10. As a result, the quotations were at the highest level since March 2022. At the end of October, the share of the Chinese giant cost USD 75, and after the opening of the session on Tuesday, the share price was around USD 158.

The share price of main rivals MSFT and GOOGL has increased by 17% and 21% respectively in the last three months. Interestingly, according to UBS, the market capitalization of major technology companies may exceed the GDP of many developed countries, which can give an idea of ​​​​what a revolution the implementation of AI technology in everyday life can be.