ChatGPT, and other chatbots, pose the greatest threat in over two decades to Google's dominant business of search, which was worth $162 billion dollars last year. This became even more alarming for the company when, in March, Samsung began to consider replacing Google with Microsoft's Bing as the default search on its devices, putting at risk a contract valued at $3 billion per year.
The Times' Nico Grant reports that more than 160 Google workers are working to redesign the company's main moneymaker in the age of AI. Magi: Tools is a project that aims to improve the quality of tools.
When users first use the system, it will learn what they want to know. It would also offer pre-selected lists for items to purchase, information to research, and other information. It would be a little more conversational, like talking to a friend. ...
Magi will keep ads mixed in with the search results. Ads will still appear on the results page for search queries that can lead to financial transactions, like buying shoes or booking flights.
Google will begin rolling out Magi to select users in the U.S. next month and to up to 30,000,000 people by the year's end.
Austan Goolsbee is the Chicago Fed President. He warned in a recent tweet that wages don't always reflect inflation because they tend to be slower than price increases.
This week, earnings will be the main topic. What to watch this week:
Charles Schwab will announce its first-quarter earnings on Monday. The stock of the company has fallen more than 30% since early March.
Tuesday is tax day in the United States! Apple's C.E.O. Tim Cook will be in Mumbai to open the first Apple Store in India. The country has been an important manufacturing center for the iPhone maker and its sales have just reached a new record. Analysts predict that China's economy will continue to rebound after the Covid lockdowns are lifted.