Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) is accelerating its plans to develop generative artificial intelligence (AI) by combining the Google Brain and DeepMind research teams into a single team.
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Under the leadership of Demis Hassabis, CEO of DeepMind, the division is expected to develop advanced AI systems that are crucial to Google’s future success. Jeff Dean, the head of Google Brain, will now hold the position of chief scientist.
Google aims to develop powerful multi-modal AI, such as OpenAI’s latest version, GPT-4. Given OpenAI’s claims about its latest model being better than the previous version, there is a threat to Google’s market share in search engines.
It is worth mentioning that earlier this year, Microsoft added ChatGPT to its search engine, Bing, allowing users to have conversations with it. Last month, Alphabet introduced its own conversational AI service and a ChatGPT competitor, Bard, calling it an early experiment.
The latest move should allow the tech giant to compete more effectively with its rivals, including Microsoft’s (MSFT)-backed OpenAI.
Are Google Shares a Good Buy?
GOOGL stock has a Strong Buy consensus rating based on 29 unanimous Buys assigned in the past three months. The average stock price target of $127.30 implies 20.9% upside potential.
