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Google launches BARD its ChatGPT rival and sees $170 Billion vanish

In the race for AI dominance Google released BARD to compete with ChatGPT but major errors in the demo caused Google's share price to plummet.

Key takeaways

  • In the two months since it launched to the public, ChatGPT has been used to generate books, coursework, scripts, programs, and more, and to answer some questions one might previously have searched for on Google.
  • In the post Monday, Google offered the example of a user asking Bard to explain new discoveries made by NASA’s James Webb Space Telescope in a way that a 9-year-old might find interesting.
  • Which was wrong - and boom just like that the mistake caused Google's stock to crash by over $170 Billion in a few days.
Cite or link to this article

Griffin, M. (2023) 'Google launches BARD its ChatGPT rival and sees $170 Billion vanish', 311 Institute, 16 February. Available at: https://www.311institute.com/google-launches-bard-its-chatgpt-rival-and-sees-170-billion-vanish/ (Accessed: 1 October 2026).

After OpenAI’s ChatGPT went viral everyone started asking whether it could be a “Google Killer” which funnily enough sent Google’s management teams into a spin so, after a few furious months of activity, Google on Monday unveiled a new chatbot tool dubbed “Bard” in an apparent bid to compete with the viral success of ChatGPT.

Sundar Pichai, CEO of Google and parent company Alphabet, said in a blog post that Bard will be opened up to “trusted testers,” with plans to make it available to the public “in the coming weeks.”

Like ChatGPT, which was released publicly in late November by AI research company OpenAI, Bard is built on a large language model. These models are trained on vast troves of data online in order to generate compelling responses to user prompts.

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“Bard seeks to combine the breadth of the world’s knowledge with the power, intelligence and creativity of our large language models,” Pichai wrote. “It draws on information from the web to provide fresh, high-quality responses.”

The announcement comes as Google’s core product – online search – is widely thought to be facing its most significant disruptive risk in years. In the two months since it launched to the public, ChatGPT has been used to generate books, coursework, scripts, programs, and more, and to answer some questions one might previously have searched for on Google.

The immense attention on ChatGPT has reportedly prompted Google’s management to declare a “code red” situation for its search business. In a tweet last year, Paul Buchheit, one of the creators of Gmail, forewarned that Google “may be only a year or two away from total disruption” due to the rise of AI.

Microsoft, which has confirmed plans to invest billions OpenAI, has already said it would incorporate the tool into some of its products – and it is rumored to be planning to integrate it into its search engine, Bing. Microsoft on Tuesday is set to hold a news event at its Washington headquarters, the topic of which has yet to be announced. Microsoft publicly announced the event shortly after Google’s AI news dropped on Monday.

The underlying technology that supports Bard has been around for some time, though not widely available to the public. Google unveiled its Language Model for Dialogue Applications (or LaMDA) some two years ago, and said Monday that this technology will power Bard. LaMDA made headlines late last year when a former Google engineer claimed the chatbot was “sentient.” His claims were widely criticized in the AI community.

In the post Monday, Google offered the example of a user asking Bard to explain new discoveries made by NASA’s James Webb Space Telescope in a way that a 9-year-old might find interesting. Bard responds with conversational bullet-points. The first one reads: “In 2023, The JWST spotted a number of galaxies nicknamed ‘green peas.’ They were given this name because they are small, round, and green, like peas.”

It then went on to respond with a few bullet points, including the claim that the telescope took the very first pictures of "exoplanets," or planets outside of earth's solar system.

"These discoveries can spark a child's imagination about the infinite wonders of the universe," Bard says.

Which was wrong - and boom just like that the mistake caused Google's stock to crash by over $170 Billion in a few days.

Bard can be used to plan a friend’s baby shower, compare two Oscar-nominated movies or get lunch ideas based on what’s in your fridge, according to the post from Google.

Pichai also said Monday that AI-powered tools will soon begin rolling out on Google’s flagship Search tool.

“Soon, you’ll see AI-powered features in Search that distill complex information and multiple perspectives into easy-to-digest formats, so you can quickly understand the big picture and learn more from the web,” Pichai wrote, “whether that’s seeking out additional perspectives, like blogs from people who play both piano and guitar, or going deeper on a related topic, like steps to get started as a beginner.”

If Google does move more in the direction of incorporating an AI chatbot tool into search, it could come with some risks. Because these tools are trained on data online, experts have noted they have the potential to perpetuate biases and spread misinformation.

“It’s critical,” Pichai wrote in his post, “that we bring experiences rooted in these models to the world in a bold and responsible way.”

FAQ

Why does this matter?

In the race for AI dominance Google released BARD to compete with ChatGPT but major errors in the demo caused Google's share price to plummet.

Matthew Griffin

About the author

Matthew Griffin Founder, 311 Institute

Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath."

Read full bio

Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath." 15-time best selling author of the "Codex of the Future" series, Matthew is the Founder and Futurist in Chief of the 311 Institute, a global Futures and Deep Futures advisory firm working with royal households, world leaders, G7, G20, and G77 governments, NGOs, and multi-national mid and mega cap firms to help them explore, shape, and lead the next 50 years of business and society.

An award-winning YouTube creator with over a million followers, with an unrivalled global reach and impact, Matthew is a highly sought-after international keynote speaker, lecturer, and mentor who collaborates with global leaders through the United Nations Alliance of Civilizations (UNAOC) and United Nations General Assembly (UNGA) to shape pivotal initiatives such as the UN’s AI for Humanity program, the United Nations Conference of the Parties (UN COP), and the World Economic Forum in Davos.

As the former Global Head of Cloud, National Security, and Enterprise Sales for companies including Atos, Dell-EMC, and IBM, Matthew has a proven track record of building multi-billion dollar business units and turning failing divisions into market leaders. His ability to identify, analyse, and communicate the implications of hundreds of emerging technologies and trends is unparalleled, and his insights are trusted by many of the world’s most respected organisations, including ABB, Accenture, Adidas, AON, ARM, BCG, Centrica, Citi, Coca-Cola, Dentons, Deloitte, Dow Jones, EY, Google, KPMG, Lego, Legal & General, LinkedIn, Microsoft, PepsiCo, Qualcomm, RWE, Samsung, Siemens AG and Siemens Energy, T-Mobile, UBS, VISA, Walmart, Workday, Worldpay and many others.

Regularly featured in the global media including the AP, BBC, Bloomberg, CNBC, Discovery, Forbes, Khaleej Times, Telegraph, TIME, ViacomCBS, WIRED, and the WSJ, Matthews mission is to help organisations create a fair and sustainable future whose benefits are shared by everyone irrespective of their ability, background, or circumstances.

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Sources and further reading

  1. Bard google ai search updates blog.google
  2. Ai chatgpt google search nytimes.com
  3. Chatgpt is about to get even better and microsofts bing could win big semafor.com

Source: first published by the 311 Institute on 16 February 2023. Cite as: Griffin, M. (2023). Google launches BARD its ChatGPT rival and sees $170 Billion vanish. 311 Institute. https://www.311institute.com/google-launches-bard-its-chatgpt-rival-and-sees-170-billion-vanish/

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