Google has been the undisputed king for years! But it looks like its days are numbered.
Is AI and particularly ChatGPT powering the lowly (David) Bing to rise up against a Goliath like Google?
Well, it’s about time!
Competition is good. For the longest time, Google is where people go when they search. Search itself (the moniker) has been replaced by Google. And that was it! Did anyone even consider Bing when looking for information?
Google has had this undeniable and even scary monopoly and control on an unbelievable amount of the world’s access to information on the internet for many years now. Google search takes anything anyone does on its page and packages and uses it for advertising – so much so that one can’t really tell the difference between what is truly authentic and trustworthy and what isn’t.
AI is changing the way the world does things. ChaptGPT is revolutionizing the way Bing operates. Forget that it is a novelty. It works.
Speaking of competition, YouTube is taking a beating from TikTok.
The poor economic climate is taking its toll on everyone – Google and Bing and even Meta included.
Circling back to Google, a drop in ad revenues means that there are fewer advertisers which will adversely affect the ability of the platform to reach its target audience. All this translates into a lower level of success when it comes to the actual campaigns. Low ad revenues could also lead to a not-so-great platform for marketers to run their campaigns as there won’t be enough revenues to invest in innovative and creative improvements in the platform.
A drop in revenues can trigger a change in pricing and create a different kind of competition for ad placements. Policies could also change. And if Google also shifts its focus on to Generative AI, then it could lead to marketers losing control over their campaigns.
On the other hand, a drop in revenues means a drop in demand, which could mean lower ad costs for marketers.
It is not the best of times for the world. There is constant talk of economic uncertainty and the possibility of heading into a deep recession. Re-structuring and layoffs are common. We have to wait and see how this all pans out.