Microsoft announces ChatGPT features coming to Bing
Microsoft announced today that it is incorporating advanced artificial intelligence capabilities into its search engine, Bing, with the addition of a new feature similar to ChatGPT.
Microsoft revealed its plans to integrate ChatGPT at a private event today at its headquarters in Redmond on its partnership with OpenAI. During the event, Microsoft CEO Satya Nadella emphasized the importance of this new feature and how it will change the way people interact with search engines.
“I think this technology will change almost every category of software,” Nadella said.
Nadella proclaimed: “The race starts today,” and Microsoft is going to “move and move fast.”
Attendees at the event were given a brief overview of the latest search capabilities, which Microsoft calls “your Artificial Intelligence-based co-pilot for the Web.”
This new experience combines the all-new Bing search engine and the Edge web browser to complement each other.
Nadella explained that the new Bing will provide direct answers to questions and encourage users to be more creative.
He also stated that the current search experience doesn’t work as well as it should, as 40 percent of the time people click on search links and then come right back.
This clearly indicates that the search experience needs to be updated and improved. Nadella argues that the user experience of the search engine hasn’t changed in 20 years, and it’s time for Microsoft to adapt.
Introducing the new Bing
The new Bing is based on OpenAI’s next-generation language model, which has been specifically adapted for search purposes. It’s even more powerful than the ChatGPT model.
Microsoft has introduced a new way of working with OpenAI, called the Promethean model, which improves the relevance of responses, annotates them, keeps them up to date, and more. The search index has also been improved by applying an AI model to the core search algorithm, which Nadella calls the biggest jump in relevance ever.
It runs on a new user interface with an expanded search box that accepts up to 1,000 characters. The examples shared during the event look just like the recent leaks. The new Bing includes a chatbot that behaves similar to ChatGPT, allowing users to interact with Bing in natural language.
Bing’s new ChatGPT-like feature will take this one step further by allowing users to have a real conversation with the search engine, with the ability to answer previous questions and provide more context for their search.
The new Bing is now available for a limited preview on the desktop, and anyone can try it out by visiting Bing.com and performing searches.
The preview will expand to millions of users in the near future, and a mobile version will be available soon. The chat interface demonstrated by Microsoft in Bing is available as a sidebar feature in Edge, allowing users to access it without going to the Bing website. The interface can work alongside and interact with any Web page. During the demonstration, the AI Assistant in Edge could summarize a 15-page PDF file with one click and even translate a snippet of code from Stack Overflow into another programming language. Another advantage of the Edge browser’s “co-pilot” is that it does tasks for you, such as filling out forms and writing emails.
Microsoft has made a significant leap in search engine technology by integrating a feature like ChatGPT into its Bing search engine.
The new Bing is based on OpenAI’s next-generation language model, which leverages key knowledge and advances from ChatGPT and GPT-3.5.
Bing with AI co-pilot is now available for a limited preview on desktop, and a mobile version will be available soon. In addition, the chat interface will be available as a sidebar feature in the new Edge browser, with the ability to summarize information, translate code and even perform tasks.
Uber’s results to check stock growth of 34% in 2023
Uber Technologies ( UBER ) is on the upswing ahead of its fourth-quarter results to be released before markets open Wednesday, with demand for its rides and deliveries up, fares higher and the number of drivers fully recovered from steep losses due to the pandemic.
The company is on track to post the first profitable year in its history based on adjusted EBITDA , a figure that excludes interest, taxes, depreciation and amortization, as well as significant expenses for Uber’s stock-based compensation. Three months ago, Uber projected fourth-quarter adjusted EBITDA of about $615 million. That would result in an annual profit of about $1.7 billion, compared with a loss of $774 million the previous year.
The market consensus is in line with that forecast, with an expected net loss of 16 cents per share based on the average analyst estimate tracked by Visible Alpha. (Net income includes expenses excluded from adjusted EBITDA as well as changes in the market value of Uber’s multibillion-dollar equity portfolio.)
Analysts expect revenue of $8.4 billion, up 46% year-over-year, thanks to the late 2021 acquisition, as well as a change in Uber’s business model in the U.K. In November, Uber projected fourth-quarter gross bookings of $30 billion to $31 billion, an increase of 23% to 27% from a year ago, adjusted for a headwind of 7 percentage points.
In the third quarter, total bookings were up 32% over the same period last year in constant currency and the number of trips on the platform was up 19% over the same period last year, helped by a 14% increase in monthly active users over the previous year. year earlier. “Underlying these numbers are several trends that represent tailwinds for us: urban opening, the travel boom and, more broadly, the continued shift in consumer spending from retail to services,” Uber CEO Dara Khosrowshahi said at the company’s third-quarter conference call. He added that strong demand persisted in October.
As of September, the number of active passengers in Uber’s mobile segment was up from three years earlier, before the COVID pandemic.
The number of drivers on the platform also completely reversed the pandemic decline.
“The bumpiest parts of the ride remain in the rearview mirror” for Uber and its surviving competitors as their growing scale boosts profitability and allows them to contain marketing costs, writes analyst MoffettNathanson, initiating coverage of Uber stock with an outperform rating and a $47. target share price last week.
As car prices have risen sharply since the pandemic began and higher interest rates make debt-financed purchases even less affordable, Uber and rival transportation providers will benefit, Piper Sandler analysts wrote a month ago when they upgraded the stock from neutral to overweight. The $33 target price the stock reached last week.
New car prices are up 18% over the past two years; used car prices are up 25% over the same period.
Uber’s third-quarter comment that the company had reached an “inflection point” for “expanding profitability in the coming quarters,” as well as rising investor expectations led to a 34% increase in the share price since the start of 2023, cutting the stock’s decline over the past year to 4.2% (see chart below).
Uber defines its acceptance rate as revenue as a percentage of gross bookings, which, in turn, is the total dollar value of rides and deliveries on its platform, including drivers’ earnings and incentives minus tips.
Thus, the percentage rate represents the share of receipts the company leaves after payment to its drivers.
Including this benefit and other accounting changes, Uber’s overall sales rate was 28.7% in the third quarter, and analysts expect that rate to remain above 27% in the fourth quarter and beyond. This is important because Uber is under pressure to increase driver revenue.
If passenger traffic and delivery demand remain high and low unemployment limits the number of drivers, the company may be forced to offer additional incentives to drivers.
