Transforming Online Search through AI Chatbots.
OpenAI, a startup based in California, has created an AI chatbot called ChatGPT that can provide human-like responses to questions and even compose poetry and computer code. According to UBS, ChatGPT has already amassed 100 million active monthly users since its launch in November. Recently, Microsoft announced a partnership with OpenAI to incorporate ChatGPT's technology into Bing, its search engine. Meanwhile, Google's parent company Alphabet announced the upcoming release of its own AI chatbot called Bard, and Baidu, a Chinese search giant, has promised to follow suit. Several other search startups, including Neeva and You.com, have already integrated AI chatbots into their platforms. It remains to be seen how this explosion of innovation will transform the online search landscape.
The way in which ChatGPT and similar chatbots operate is distinct from traditional online search methods. Conventional search engines like Google and Bing utilize web crawlers, which are bots that traverse the internet to compile information. The search engines then analyze and arrange the data, and present the user with relevant links in response to a search query. In contrast, AI chatbots rely on large language models, which are algorithms trained on vast amounts of internet data. These chatbots anticipate the next word in a response to a query based on billions of sentences utilizing the preceding words. Instead of simply providing a list of links, chatbots can offer coherent responses.
The emergence of AI chatbots like ChatGPT is set to revolutionize the way online search works in two significant ways. Firstly, search results will now be able to provide solutions to complex questions involving multiple variables. Take the example of a tourist searching for a dog-friendly hotel in Hawaii that is situated close to the beach and within walking distance of a shopping centre. This type of search on Google could involve reading through multiple websites, whereas a chatbot's predictive capabilities can offer up tailored recommendations almost instantly, potentially planning out a whole week-long vacation.
The emergence of AI chatbots is expected to lead to two major changes in the search market. Firstly, it will enable search results to answer complex questions that involve multiple variables. This is a marked difference from traditional search engines like Google and Bing, which require users to sift through multiple websites to find the information they need. Chatbots can use their predictive abilities to offer relevant recommendations in real-time. For instance, a tourist looking for a dog-friendly hotel in Hawaii near the beach and within walking distance of a shopping center can get personalized recommendations from the chatbot in no time.
Secondly, the market for chatbots is expected to grow beyond its current applications. Presently, students use AI chatbots to help them with homework, while software engineers use them for debugging code. However, chatbots are expected to be useful for other purposes like diagnosing illnesses, creating presentations, and so on. Industry-specific chatbots are also expected to gain popularity. Already, companies like C3.ai plan to use chatbot technology to help businesses search their in-house data. In addition, travel firms such as Booking.com are experimenting with chatbots.
This development poses a threat to Google's search market monopoly, as other players like Bing are also integrating chatbot technology. Although Google has not yet launched its own chatbot, Bard, some suggest that it may be hesitant to do so over concerns that the bot may deliver offensive answers, which could lead to a public backlash.
Although chatbots offer exciting possibilities, there are limitations to their use. One such limitation is their tendency to generate inaccurate responses, also known as "hallucinations." This is because they lack true comprehension of language. Another challenge is the monetization of chatbots, which may not be as straightforward as inserting ads into a Google search. While Microsoft is considering adding advertisements to its chatbot on Bing, the cost of the additional computing power required to run chatbots could impact search engine margins. Some companies, like Neeva, are exploring subscription-based models for their chatbot services. Despite these hurdles, chatbots have the potential to revolutionize how individuals interact with the internet and access information. Microsoft co-founder Bill Gates has even compared the technology's importance to that of the PC and the internet itself. The implications of chatbots could extend far beyond just finding a dream vacation destination.
