Google's AI chatbot's mistake costs Alphabet $100 billion in market cap

The latest battle on wall street, is the battle of artificial intelligence. After chatGPT backed by Microsoft, was launched, Google is now set to launch its own chatbot called Bard.

Chatbot Bard it seems, has gotten off to a rocky start, one that cost its parent company $100 billion in market capitalisation.

As per reports, in the first video demo of the product, an animation shared by Google showed Bard answering a question about new discoveries made through the James Webb Space Telescope. The answer said that the telescope "took the very first pictures of a planet outside of our own solar system'', or exoplanet.

However, astronomer said that this was incorrect.
NASA in fact, confirmed that the first pictures of exoplanets were taken by the European Southern Observatory’s Very Large Telescope (VLT) back in 2004.

Meanwhile, just a day before Google’s presentation, Microsoft unveiled a new version of its Bing search engine with ChatGPT functions integrated.

Gil Luria, senior software analyst at DA Davidson told Reuters that "Google has been scrambling over the last few weeks to catch up on Search and that caused the announcement to be rushed and the embarrassing mess up of posting a wrong answer during their demo.”

Shares of Alphabet closed around 8% lower on Wednesday, resulting in an erosion of $100 billion in market cap.