'Project Magi': How Google is revamping Search to challenge Bing
What's the story
The AI gold rush started by ChatGPT is here to stay. The question is, can Google play a significant role in the AI revolution, or will it be sidelined? Microsoft's GPT-4-powered new Bing has emerged as a strong challenger to Google's dominance in search. There are reports of Samsung replacing Google with Bing. So to challenge Bing, Google has initiated 'Project Magi.'
Context
Why does this story matter?
Google has been a pioneer in AI research for a long time. However, it hesitated in coming up with a purely AI product. OpenAI pounced on this opportunity and released ChatGPT. Google has been playing the catchup game since then. The company is in need of finding an answer to the challenge posed by Microsoft-OpenAI before the race slips away from its hands.
Project Magi
Google is working on a new AI-powered search engine
AI-powered search engines like Bing are giving Google a run for its money. Bard, its answer to ChatGPT, is yet to pick up speed. According to the New York Times, the company is now working on an "all-new search engine" powered by AI. It is also adding AI features to its existing search engine. All of these major changes are part of 'Project Magi.'
Samsung problem
Google panicked after hearing the Samsung problem
Google is in a hurry to find solutions to the challenges faced in the AI space. Designers, engineers, and executives are working in "sprint rooms" on the project. 'Project Magi' comes in the backdrop of the news that Samsung is considering replacing Google Search with Bing as the default option. The NYT reported that the threat of this happening sent Google into panic mode.
Revenue
Google's contract with Samsung is worth $3bn per year
Reports of Samsung replacing Search with Bing have affected the market value of Google's parent Alphabet. The company's stock fell as much as 4%, erasing about $57 billion in market value. Google's contract with Samsung is worth $3 billion in annual revenue. A similar $20 billion contract with Apple will be up for renewal this year. If Samsung changes, Apple might also consider it.
New search engine
The new search engine will anticipate what people need
Google hopes that the new search engine will help it capture the AI market. It will offer users a more personalized experience by anticipating their needs. The system would learn what users want based on their search habits. It would be more conversational and would offer pre-selected lists of what to buy, what to search for, and more.
More features
Over 160 people are working on adding AI features
It is unclear when we will see Google's new search engine. Meanwhile, the company has put over 160 people to work on adding new AI features to the existing search engine. The project would still keep ads in the mix. The new features could help users get answers to their coding questions. The search could also write code if prompted.
Availability
New features will be released next month
Google plans to add AI features to its search engine in May. The company will add more features later. At first, up to one million people will have access to these features. The company will later increase the number to 30 million. Unfortunately, only users in the US will have access to Google's upcoming AI features on Search, at least initially.