Microsoft is reaping the fruits of its early bet on OpenAI’s conversational AI tech ChatGPT. Since the launch of the ChatGPT-powered “new Bing” in early February, the company’s search engine has reportedly seen a 15.8 percent boost in page visits. Google Search page visits declined by one percent during the same period (February 7 to March 20), Reuters reports citing data from analytics firm Similarweb.
App downloads for Bing also jumped eight times globally during this period. According to the latest data from research firm Data.ai, the Bing app was downloaded more than 810,000 between February 5 and march 11. The figure for January 1 to February 4 period was just about 100,000. On the other hand, Google Search downloads dropped two percent from 2.98 million to 2.91 million in the same period.
As the data shows, Google has a massive lead in the search market. The internet giant has a share of more than 80 percent in a market that is valued at over $120 billion. However, Microsoft is emerging as a strong competitor to it, with the ChatGPT craze boosting the latter’s usage globally. Google is also preparing to bring its in-house generative AI tech Bard to its products, including Search. But the company is taking longer to do that, allowing Bing space to make further inroads. It publicly released its conversational chatbot earlier this week.
Market analysts expect Bing to eat more into Google’s search market in the coming days. The more Google delays Bard’s integration with Search, the more Bing will benefit. “Bing has less than a tenth of Google’s market share, so even if it converts one percent or two percent of users it will be materially beneficial to Bing and Microsoft,” said Gil Luria, an analyst at D.A. Davidson & Co.
Google will fight back against this Bing resurgence
Microsoft’s “new Bing” may have gained a sudden push in the lucrative search market following the ChatGPT integration last month and left Google behind the curve, but the latter certainly isn’t throwing in the towel. Analysts expect it to fight back strongly against this Bing resurgence. The company has a massive lead in this industry, and it will overcome these setbacks soon to maintain its lead. After all, no one can forget how Google dethroned Yahoo from the top in the early 2000s.
Google’s dominance in the mobile search industry is difficult for other players to break. Most smartphones (both Android and iPhones) have Google as their default search engine. Bing or other rivals certainly can’t replace Google in mobiles, not in the foreseeable future. “Google’s ranking algorithm can have a competitive edge over that of competitors,” Yongjei Jeong, an analyst at South Korean firm Mirae Asset Securities.
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