A Battle of Giants
Will Google lose its dominance?
Google in Trouble? 😱
✅ Microsoft unveiled the newly-improved Bing.
❌ Google’s AI chatbot competitor blunders announcement.
Google has long dominated the search engine market, making Search a significant revenue driver.
Microsoft's Bing, and their partnership with OpenAI, have put Google’s dominance into question after a product demo that shows OpenAI's cutting-edge ChatGPT-3 technology integrated into its search engine.
In an interview with The Wall Street Journal, Microsoft’s CEO emphasizes Bing’s underdog status in the market, with only 9% of the market share compared to 84% held by Google, saying, “all I need is a few more users while Google has to keep all their users and all their gross margin, I’m looking forward to that.”
Big Picture: Bing's integration of AI into search could give it the edge it needs to challenge Google's dominance.
While it remains to be seen how the search engine market will evolve, one thing is clear: the integration of AI technologies like ChatGPT-3 is reshaping the industry and forcing players to raise their game.
For a deeper dive, check out this great ColdFusion video trending at #13 on Youtube.
Canada’s Shocking Job Numbers 🤯
Last month, Canada added 150,000 jobs, ten times the amount estimated by Bloomberg economists, presenting a challenging situation for the Bank of Canada.
The rise in January was primarily seen in full-time positions (120,000+ jobs added), with “Accommodation and food services” growing the fastest.
Table: Graeme Bruce - Source: Statistics Canada - CBC News
Big Picture: The Bank of Canada faces a dilemma after the strong labor market figures.
The Bank of Canada’s "conditional pause" to evaluate the impact of its actions is looking increasingly unlikely as the recent rate hikes have done little to cool job growth. The strong job growth has spooked investors as fears rise about future hikes. The TSX is down ~0.6% after the news.
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