The annual Google I/O conference is a significant event for the business. It's where Google releases new developer tools, showcases cutting-edge technology, and gives sneak peeks at forthcoming releases. However, the excitement surrounding generative AI, or artificial intelligence algorithms that can generate content based on text prompts, is sure to draw more attention to the conference this year than usual.
"This year, with the explosion of generative AI, there's going to be a lot more focus on Google from everyone else," said Avi Greengart, president and chief analyst of Techsponential.
Google and Microsoft have been battling for supremacy in the generative AI space ever since ChatGPT in late 2022 caught the attention of investors, the general public, and the IT sector. Through the course of 2023, as both businesses released new AI-driven features and products, that competition was clearly visible.
According to The New York Times, Google allegedly declared a "code red" within the organization in December in response to ChatGPT's popularity. The Google I/O event on May 10 would be an ideal time for the corporation to demonstrate the results of the "code red" crunch's efforts.
The rivalry between Google and Microsoft
A firm other than Google seldom makes news due to its search engine. However, that is precisely what took place in 2023 when Microsoft unveiled new Bing features powered by AI. Microsoft included ChatGPT's technology as part of their so-called Bing resurrection to provide more conversational responses to search requests.
This year, Microsoft released a flurry of updates focused on artificial intelligence. Additionally, Word and the rest of the Office 365 productivity suite are being sprinkled with AI-powered features by the Windows maker. It also unveiled an AI tool for assisting cybersecurity experts in identifying and resolving possible attacks. Microsoft had an early lead in the AI competition thanks to its investment in OpenAI, the business that created ChatGPT.
However, Google also had a tonne of AI-related announcements to make in 2023. Around the time Microsoft unveiled the revamped Bing in February, the company unveiled its ChatGPT rival, Bard. Late in March, Google expanded the availability of Bard, enabling sign-ups for free trials in the US and the UK. Google quickly expanded its AI drive to include its productivity tools. In March, it previewed some brand-new Gmail and Google Docs writing and organisation capabilities driven by artificial intelligence. At I/O, we're sure to learn more.
Why the AI race is so important right now
Because generative AI is thought to be the future of how we work and search for information online—two areas on which Microsoft and Google, respectively, have built their businesses—companies like Microsoft and Google are moving quickly towards it.
If the focus on generative AI by industry heavyweights like Microsoft, Google, Meta, Snap, and Amazon in some capacity isn't persuasive enough, venture capitalists are also investing a tonne of cash in the field. Deals using generative AI produced nearly $1.7 billion in the first quarter of 2023, according to PitchBook, a platform that offers statistics on international capital markets.
Additionally indicating that the technology will play a significant role in their future product roadmaps, AI was frequently mentioned during the most recent earnings calls from Microsoft and Google parent Alphabet.
Google might not be able to catch up if it misses the generative AI boom, according to Dekate. And that can have a negative impact on Google's operations. According to The New York Times, Samsung has apparently thought about making Bing the default search engine on its smartphones in place of Google. According to the article, that would put Google's annual income at risk of $3 billion.
"These moments are few and far between," Dekate said. "And now's the time for Google to shine if they want to."
