OpenAI Set to Unveil Rival to Google Search Next Week

It is said that OpenAI’s search product will be an addition to its GenAI-powered chatbot ChatGPT.

Reuters cites two people with knowledge of the matter who say that OpenAI will announce an AI-powered search product on Monday, May 13. This will make the competition with Google even tougher.

The Information was the first to report in February that the Microsoft-backed company was going to release a search product.
The search product from OpenAI will be an addition to its GenAI-powered chatbot ChatGPT. Bloomberg says that the extension will let the chatbot search the web and include sources for information.

If nothing changes, the news will come out a day before Google’s I/O conference, where the tech giant is likely to show off a number of AI-powered products.
Along with Google, OpenAI’s new search product will go up against the AI start-up Perplexity, which is worth about $1bn right now.

The company, which was started by a former OpenAI researcher, has become very popular because it offers an AI-powered search engine that sends back both text and images.
In April, Perplexity said it had gotten $62.7 million from SoftBank and Deutsche Telekom in the form of funding and partnerships. The AI startup also released Perplexity Enterprise Pro, a paid model for businesses.

Millions of people already use our technology to make their work research more accurate and faster, and we’re excited to bring this power to businesses to meet the demand for enterprise-scale, the company wrote in a blog post.

The global AI market is expected to be worth $909bn by 2030, according to GlobalData. This is a growth rate of 35% per year from 2022 to 2030.

According to GlobalData, the market for AI chips will be worth £116bn by 2030. This is because demand is growing across many industries at the same time.GenAI sales are expected to rise at a CAGR of 80%, from $1.8bn in 2022 to $33bn in 2027.