Associated Incidents
Artificial intelligence (AI) stocks continued to gain traction on Wednesday as investors impressed by the capabilities of OpenAI’s chatbot ChatGPT staked their positions in public companies developing other promising AI technologies.
Shares of Guardforce AI Co Limited, an integrated security solutions provider, had added 36% at US$0.46, while Railtown AI Technologies Inc (CSE:RAIL), which uses AI to drive optimization and deliver insights at every stage of software development, gained 30% at C$0.13.
Predictive Oncology, which applies AI to the research and development process of personalized cancer therapies, was up 2.4% at $0.56.
AI speech recognition business SoundHound AI Inc was up 10%, while AI software companies BigBear.ai Holdings Inc and C3.ai Inc had added 9.4% and 6.4%, respectively.
The success of ChatGPT has also seen tech giants Alphabet, Google’s parent company, and Microsoft race to implement additional AI features into their own offerings. Microsoft has invested big in AI as a multi-billion dollar backer of OpenAI, the company behind ChatGPT.
Google on Monday announced it would be releasing its own rival chatbot BardAI, a conversational AI service powered by Google's Language Model for Dialogue Applications (LaMDA).
Then on Tuesday, Microsoft unveiled new AI-powered updates to its Bing search engine and Edge browser.
Google on Wednesday returned to the fray announcing a slew of new AI-powered features for its Search, Maps, and Lens app.
The company also released a demonstration of its Bard AI chatbot. However, this backfired on Google, with shares of its parent company Alphabet falling almost 8% after the demo included the chatbot returning an incorrect answer.
Alphabet shares were down 7.9%, trading at US$99.49 in the early afternoon on Wednesday.