We will finally get rid of Google as we know it today.
At Google, all hands are on deck to address a “code red” alert. At last, Google might face some serious competition with the introduction of artificial intelligence to consumers.
Despite its dominance in search engines and being one of the most valuable companies in the world, Google is facing stiff competition that we all will start appreciating short-term. Although not known to the majority, ChatGPT is a new way of bringing artificial intelligence to the wide masses.
The era of classic search engines as we know them is dying out, despite all the success. We are used to Google being a good answering machine for all sorts of everyday questions. But to get the best answers, if you look closely, you still have to type in very search engine specific phrases and despite of it, often still not get what you need.
Instead, people (especially young people) use platforms like TikTok, Pinterest or others to search for information. What these search results have in common are quick entertaining answers that are to the point: How do I best pack a suitcase? Which software is the best? Where can I best travel as a vegetarian in Winter? What dinner can I make with avocado and chicken? Older generations are still often getting lost in endless lists and search results that they get from Google, while younger Generations quickly consume current high quality content to get the desired information.
The changing search behavior and raised consumer expectations show, that despite Google’s dominance and access to “all” the data, Google no longer solves all our digital search problems. As a result, Google is starting to lose significant market share in the battle of searches.
An already changing user behavior will now be even more accelerated with artificial intelligence and ChatGPT. In addition, product search has been increasingly moving from Google to Amazon, which makes already $31 billion in advertising revenue.
What does that mean for Google? Their super cash cow is in danger. In 2021, Google made $210 billion of their $256 billion in revenue with advertising.
Points Group has been using Artificial Intelligence for a while. With openAI.com, users can use and test the use of Artificial Intelligence through an interface that feels more like talking to another person than trying to search for information on a computer. The current early phase version of ChatGPT answers human questions in a human way, and is undoubtedly spectacular, namely human voice quality. That’s why a million users signed up for OpenAI in the first five days. So far, ChatGPT has not been connected to the open internet, but has only been trained with content from the period up to 2021, which means that it does not contain any current information. But that is likely to change in the near future. In spring 2023, the new generation of ChatGPT will be launched and will be connected to the internet.
The challenge for Google is that its business model is based on displaying results in the form of lists in which it can embed advertising. Artificial Intelligence is probably more difficult to market for advertising – because it tries to narrow down the search result in a dialog to provide you with the best possible answer instead of ten million results. Once users start using this type of search, it is very likely that this way of finding answers will very quickly revolutionize digital search.
For businesses, this will become an exciting, but also challenging time, because the simple approach of throwing digital advertising at the consumer might not become that easy anymore in the future. On the other side, the quality of your customer search will increase and with it, the quality of leads and/or new patients.
Stay tuned.
