Google's I/O event is expected to focus on artificial intelligence announcements, with stock seeing a rise.

From Investor’s Business Daily: 2024-05-14 16:30:00

Expectations are high for Alphabet’s Google I/O conference, with analysts predicting a focus on artificial intelligence announcements. Google stock has seen a 20% climb in 2024 leading up to the event, where generative AI and the Gemini foundation training model are expected to take center stage.

Speculation surrounds Google’s potential launch of the “Search Generative Experience” (SGE) at the event, integrating generative AI models. Analysts anticipate I/O to showcase AI-related announcements and deeper Gemini integration into Google’s ecosystem, potentially leading to successful advertising integrations in SGE results.

Google stock rose following the I/O conference, with discussions on new developments in generative AI. OpenAI’s introduction of GPT-4o, an enhanced AI model for text, audio, and image interactions, heightens competition.

Apple and Google are reportedly in talks for licensing technology, with UBS analyst Stephen Ju predicting a focus on GenAI productization and potential partnership deals. Microsoft holds a major stake in OpenAI, hinting at a dynamic landscape for AI technologies moving forward.

Google may introduce a new AI-powered personal assistant called “Pixie” at I/O, integrating GenAI capabilities like multimodal features and personalized assistance. The company continues to explore the operational aspects and economics of SGE responses versus traditional search engine costs.

Additionally, Google stock holds a strong standing in the market, remaining above a 5% buy zone. As the conference progresses, the unveiling of new AI developments and potential partnerships between tech giants hint at an innovative AI landscape.



Read more at Investor’s Business Daily: Google Stock: I/O Event Expectations Run High Amid OpenAI, Microsoft Rivalry