How ChatGPT may still be way far from ‘hurting’ Google

 ChatGPT, the Microsoft-backed artificial intelligence platform, may be losing some of its mojo. ChatGPT application download speed is slowing down.OpenAI’s ChatGPT isn’t ready for the challenge, according to a report from BofA analyst Justin Post. GoogleControl as a search engine leader.He claims the app downloaded ChatGPT and Microsoft Bing has slowed down in recent weeks. He cites data from research firm Sensor Tower. OpenAI launched ChatGPT in December 2022, an AI-based generative chatbot that became an overnight success.

ChatGPT downloads on iPhones in the US fell 38% month-on-month in June, according to the report. Downloads of the Bing app, which includes the ChatGPT-based chatbot in the US, also fell 38% in June.

The report cited SimilarWeb data that Google’s search engine market share rose slightly year-on-year to more than 92%. The market share of Microsoft’s Bing, which uses OpenAI’s ChatGPT technology, fell 40 basis points year-over-year to about 2.8%.

ChatGPT’s “decline” is good or bad for Google
The note also issued a warning to Google and Microsoft. The decline in popularity of ChatGPT and similar large-scale language models (LLMs) also highlights the investment risks of companies such as Google and Microsoft, which have poured billions of dollars into the belief that recent advances in artificial intelligence could create the next generation of search, the report said. The engine replaces the current platform. The two companies, along with other tech giants like Nvidia, have also invested hundreds of millions of dollars in AI startups.

What ChatGPT’s Decline in Popularity Says
The report added that the decline in ChatGPT’s adoption may indicate that the technology may not seriously threaten Google’s dominance in search. It also means that companies may have to find other applications of the LLM, such as new advertiser tools.

“As for Google stock, LLM’s concerns about Google search seem to have shifted from market share risk to monetization risk, but with search share looking healthy, Google may be in less rush to integrate LLM (chat) results into commercial queries, ’” Post wrote in the Wall Street Journal. notes.

In addition to the app or the Bing search engine, ChatGPT users can also access the chatbot through its website. Bank of America analysts estimate that ChatGPT’s traffic is down about 11% month-on-month to just over 51 million weekly visits, accounting for only about 2% of Google’s estimated web traffic.

Analytics firm Similarweb also reported a drop in monthly traffic to its site, and the number of unique visitors to the ChatGPT site fell for the first time in June. Global desktop and mobile traffic to the ChatGPT website was down 9.7% in June from May, while unique visitors to the ChatGPT website were down 5.7%. The time visitors spend on the site has also dropped by 8.5%, Sameweb data shows.