Intensification of competition from Bing; The growth rate of Google’s revenue dropped sharply

After years of rapid growth, Google’s search unit revenue rose slightly in the first quarter of 2023. This suggests that competition with Google’s money-making business unit, eg Artificial intelligence has reached the highest possible level.

In its new financial report, Google says that the revenue of the Search & Other unit in the first quarter of 2023 grew by 1.87% and reached 40.4 billion dollars. In the first quarter of 2022 and the first quarter of 2021, the income of this business unit increased by 24.28% and 30.11%, respectively.

based on what CNBC He writes, Google posted a total of $69.79 billion in revenue in the first quarter of 2023, which exceeded analysts’ expectations. In response to the financial report, Google’s stock value rose four percent.

According to VergeGoogle search engine is struggling with fierce competition. Microsoft search engine It has equipped Bing with artificial intelligence and greatly increased the number of its users. On the other hand, many users are using services like are ChatGPT.

Unconfirmed reports say that ChatGPT’s explosive popularity has Google executives very concerned. In response to ChatGPT, Google introduced a dedicated chatbot named Bard; But more than a month later, Bard is still an experimental service with limited access.

Apparently, in response to the current situation, Google is trying with all its might to strengthen its artificial intelligence services. This company is looking to add artificial intelligence to the Workspace family of software such as Gmail and Docs. Last week, Google merged the Brain and DeepMind units to focus more specifically on artificial intelligence.

Despite the slowdown in growth, Google executives seem to be satisfied with the search unit’s performance. Sundar Pichai, CEO, says Google’s search engine is “performing well.” Google’s chief financial officer praised the search unit’s “toughness.”

Google announced in its new financial report that for the first time, the company’s cloud business has reached profitability. Google is also trying to make more devices available to customers. It is likely that we will see the unveiling of some new products at the I/O ceremony that will be held on May 18.

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