• Google’s chatbot ad campaign showed factual issues, leading to a 6% stock drop of Alphabet.
• AI tokens have been experiencing strong growth this year but have recently stalled after the Google incident.
• GOOG stocks have dropped 6.26% since the start of the day, while other AI tokens are down more than 5%.
Google Chatbot Ad Campaign Shows Factual Issues
Following a strong start to 2023, crypto AI tokens stalled as Google failed to demonstrate accuracy in its chatbot preview. Shares in Alphabet, Google’s parent company sunk in pre-market trading on Feb. 8 after an advert for its new AI chatbot included factual inaccuracies. Shares in GOOG were up 24.9% since the start of the year before the 5% drop in pre-market trading on Feb. 8. As of press time, GOOG has continued to trade sideways, down 6.26% on the day.
AI Tokens Reacting To Google Performance
The crypto AI industry appears to be reacting to Google’s performance, with many projects in the top 10 down more than 5%. The outliers are The Graph and dKargo, which have outperformed the sector over the past 24 hours due to their grounding data optimization and focus on blockchain data aggregation and supply chain logistics respectively.
Factual Incorrectness Of James Webb Space Telescope (JWST)
Concerns were raised regarding the quality of AI-generated information due to Google’s advertising campaign which featured a video looking at answering a prompt about JWST.“What new discoveries from JWST can I tell my 9-year old about?“, stated ZeroHedge However, ZeroHedge identified that this was inaccurate as „The first pictures of exoplanets were taken by European Southern Observatory’s Very Large Telescope (VLT) in 2004“.
AI Tokens Struggling After Poor Performance
Due to poor performance from Google’s Bard chatbot and its inability to provide accurate information about JWST, it appears that AI tokens are struggling as a result with monthly gains dropping over 200% for some cases compared from earlier this year.
Google’s recent poorly performing advertisement campaign has had negative effects on both Alphabet shares and crypto AI tokens alike – despite some outlier success stories like The Graph and dKargo who are utilizing data optimization techniques for different applications such blockchain data aggregation and supply chain logistics respectively