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Most people associate artificial intelligence (AI) with Alphabet Inc‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, as opposed to ChatGPT parent company OpenAI.
That’s according to a Jefferies survey published Tuesday. This result is surprising given that OpenAI is strictly an AI-based organization, while Alphabet has strong footholds in various departments, including video content and hardware.
What Happened: The survey asked consumers and workers about their AI use on the heels of Alphabet’s unveiling of Google AI Overviews at its I/O conference in May. Here are the key takeaways:
Why it Matters: Reluctance to pay for ChatGPT (among other AI platforms) could perhaps indicate that there is no obvious “AI killer” use case yet. Respondents to the survey did not report overwhelming use for one particular task.
Tech giants like Alphabet have spent billions in the first quarter of 2024 alone developing disruptive AI technologies. There were a few embarrassing hiccups along the way, but these projects can potentially pay major dividends if they prove to be valuable to users.
The market has reacted as such by propelling Alphabet, along with other AI players such as NVIDIA Corp and Microsoft Corp, to all-time high market capitalizations.
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