Microsoft has started discussing with ad agencies how it plans to make money from its revamped Bing search engine powered by generative artificial intelligence as the tech company seeks to battle Google's dominance.In a meeting with a major ad agency this week, Microsoft showed off a demo of the new Bing
Microsoft has started discussing with ad agencies how it plans to make money from its revamped Bing search engine powered by generative artificial intelligence as the tech company seeks to battle Google's dominance.
Early search results and conversations with Microsoft's Bing and Google's chatbot called Bard have shown they can be unpredictable. Alphabet lost $100 billion in market value on the day when it released a promotional video for Bard that showed the chatbot sharing inaccurate information. The company said it is taking traditional search ads, in which brands pay to have their websites or products appear on search results for keywords related to their business, and inserting them into responses generated by the Bing chatbot, the ad executive said.Microsoft is also planning another ad format within the chatbot that will be geared toward advertisers in specific industries.
The new Bing, which has a waitlist of millions of people for access, is a potentially lucrative opportunity for Microsoft. The company said during an investor and press presentation last week that every percentage point of market share it gains in the search advertising market could bring in another $2 billion of ad revenue.
"They seem intent on starting off immediately with paid ads integrated," Cohen said, adding that Microsoft said more information about the strategy could come in early March. Microsoft, when asked about the Parts Geek ads, said the potential of the new AI technology in advertising is only beginning to be explored and it aims to work with its partners and the ad industry.
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