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Alphabet's (GOOGL) Google Adds Bard Capabilities to YouTube
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Alphabet’s (GOOGL - Free Report) Google is leaving no stone unturned to bolster its generative AI capabilities with its chatbot Bard. This is evident from its latest announcement, where Google integrated Bard Extensions into YouTube.
Reportedly, this Bard integration will allow YouTube users to ask questions about a video, with the chatbot summarizing information from the video and the web.
We note that Bard's YouTube video comprehension capabilities will enhance user conversations by transitioning from a conversational video search to a more comprehensive tool.
The latest move is expected to boost YouTube’s user base. This is likely to aid the Google Services segment’s performance. In the third quarter of 2023, Google Services’ revenues increased 10.8% year over year to $67.99 billion, accounting for 88.6% of the total revenues.
Our model projects fourth-quarter 2023 Google Services revenues at $72.79 billion, indicating growth of 7.3% from 2022.
The latest move is in sync with Alphabet’s growing efforts to integrate generative AI into its products and services.
Apart from the latest move, Alphabet’s Google introduced AI-powered features to YouTube, including Dream Screen for seamless video backgrounds, production tools for quick editing, and YouTube Create, a mobile app for AI-enabled video production.
Further, Alphabet launched Assistant with Bard, a generative AI personal assistant that combines Bard's generative and reasoning capabilities with Assistant's personalized help, available on Android and iOS mobile devices.
Additionally, Google launched Duet AI, a generative-AI-backed helper for Gmail, Drive and Docs, available for organizations using Google Workspace, offering meeting assistance, document summarizer and personalization for Gmail's smart replies.
We believe that the abovementioned endeavors are likely to strengthen Alphabet’s presence in the booming generative AI space.
Per a Statista report, the global generative AI market size is expected to reach $207 billion by 2030, exhibiting a CAGR of 24.4% between 2023 and 2030.
Strong momentum in the booming generative AI market is expected to aid Alphabet in winning investors’ confidence in the near term.
Alphabet has gained 57% year to date compared with the industry’s growth of 56.4%.
Microsoft has taken the world by storm with its generative AI-powered chatbot, ChatGPT. In addition, Microsoft’s integration of OpenAI’s next-generation large language model — GPT-4 — into its search engine Bing and browser Edge to deliver a ChatGPT-like experience to users remains noteworthy.
Adobe is riding on the success of its family of creative generative AI models – Firefly. Recently, Adobe launched Photoshop for the web, incorporating Firefly-powered AI tools like generative fill and generative expand, leveraging generative AI capabilities into its products.
Meanwhile, Meta Platforms is set to introduce AI chatbots called Gen AI Personas with unique personalities to appeal to young users. Additionally, Meta announced the rollout of generative AI tools for all advertisers, enhancing content creation, productivity and personalization through features like Background Generation, Image Expansion, and Text Variations.
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Alphabet's (GOOGL) Google Adds Bard Capabilities to YouTube
Alphabet’s (GOOGL - Free Report) Google is leaving no stone unturned to bolster its generative AI capabilities with its chatbot Bard. This is evident from its latest announcement, where Google integrated Bard Extensions into YouTube.
Reportedly, this Bard integration will allow YouTube users to ask questions about a video, with the chatbot summarizing information from the video and the web.
We note that Bard's YouTube video comprehension capabilities will enhance user conversations by transitioning from a conversational video search to a more comprehensive tool.
The latest move is expected to boost YouTube’s user base. This is likely to aid the Google Services segment’s performance. In the third quarter of 2023, Google Services’ revenues increased 10.8% year over year to $67.99 billion, accounting for 88.6% of the total revenues.
Our model projects fourth-quarter 2023 Google Services revenues at $72.79 billion, indicating growth of 7.3% from 2022.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growing Focus on Generative AI
The latest move is in sync with Alphabet’s growing efforts to integrate generative AI into its products and services.
Apart from the latest move, Alphabet’s Google introduced AI-powered features to YouTube, including Dream Screen for seamless video backgrounds, production tools for quick editing, and YouTube Create, a mobile app for AI-enabled video production.
Further, Alphabet launched Assistant with Bard, a generative AI personal assistant that combines Bard's generative and reasoning capabilities with Assistant's personalized help, available on Android and iOS mobile devices.
Additionally, Google launched Duet AI, a generative-AI-backed helper for Gmail, Drive and Docs, available for organizations using Google Workspace, offering meeting assistance, document summarizer and personalization for Gmail's smart replies.
We believe that the abovementioned endeavors are likely to strengthen Alphabet’s presence in the booming generative AI space.
Per a Statista report, the global generative AI market size is expected to reach $207 billion by 2030, exhibiting a CAGR of 24.4% between 2023 and 2030.
Strong momentum in the booming generative AI market is expected to aid Alphabet in winning investors’ confidence in the near term.
Alphabet has gained 57% year to date compared with the industry’s growth of 56.4%.
Stiff Competition
We note that the latest move will allow Alphabet, which holds a Zacks Rank #3 (Hold), to compete well with some notable industry players like Microsoft (MSFT - Free Report) , Adobe (ADBE - Free Report) and Meta Platforms (META - Free Report) , which are also making continuous efforts to boost generative AI efforts. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Microsoft has taken the world by storm with its generative AI-powered chatbot, ChatGPT. In addition, Microsoft’s integration of OpenAI’s next-generation large language model — GPT-4 — into its search engine Bing and browser Edge to deliver a ChatGPT-like experience to users remains noteworthy.
Adobe is riding on the success of its family of creative generative AI models – Firefly. Recently, Adobe launched Photoshop for the web, incorporating Firefly-powered AI tools like generative fill and generative expand, leveraging generative AI capabilities into its products.
Meanwhile, Meta Platforms is set to introduce AI chatbots called Gen AI Personas with unique personalities to appeal to young users. Additionally, Meta announced the rollout of generative AI tools for all advertisers, enhancing content creation, productivity and personalization through features like Background Generation, Image Expansion, and Text Variations.