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Google’s AI Power Play: Why GOOG Stock Is Set to Soar

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  • Alphabet’s (GOOGGOOGL) Google is adding special artificial intelligence (AI) features.
  • Google is reportedly preparing to launch a chatbot that’s designed to give life advice.
  • Investors seeking AI market exposure should take a look at GOOG stock.
GOOG stock - Google’s AI Power Play: Why GOOG Stock Is Set to Soar

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Because Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) owns Google, it has tremendous influence in the world of search engine technology. The company has to stay several steps ahead of its rivals, and Google is using artificial intelligence enhancement to achieve this. This is significant for GOOG stock investors as Google can maintain a competitive edge through AI technology.

It’s exciting to discover the latest directions and use cases for machine learning in the 2020s. Investors shouldn’t try to resist this trend, as businesses are increasingly deploying AI.

So, as long as Alphabet and Google stay on the cutting edge of AI, shares of Alphabet can continue to gain value throughout the year.

AI Is the Key to Future Gains in GOOG Stock

Truly, Google is a leader in today’s technology trends. For example, Google is updating its Chrome browser to make it more secure against hacking attempts from powerful quantum computers.

Google is protecting its browser users from potential threats that don’t even exist yet. Yet, GOOG stock investors aren’t focused on this. What they really want to know is: How is Google developing its AI-enhanced capabilities?

Like it or not, Google’s value, and therefore Alphabet’s value, will depend on AI-related advancements to a large degree. That’s why Google works so diligently to develop AI-enhanced features to improve the browsing experience.

In particular, Google is introducing generative AI tools that can help users to summarize long articles, define terms they don’t understand and hover over words to see images related to the topic.

Google is launching AI features to help programmers with coding tasks. Clearly, Google is waist-deep in the AI movement and GOOG stock investors should see this as a growth driver for the company.

A Generative AI Tool You Probably Didn’t Expect

On top of all that, Google apparently plans to roll out a generative AI tool that may be somewhat controversial. Specifically, The New York Times reported Google is testing out an AI-enhanced chatbot/assistant that can serve as a life coach.

This is a development in the AI arms race that you might not have expected. Google’s new tool, believe it or not, would provide life advice. It may offer guidance on how to navigate a difficult conversation or what to do if there’s an ethical quandary.

There are bigger-picture implications here. If Alphabet and Google succeed with their life-coach assistant, it could represent a huge step forward in the evolution of generative AI.

After all, some critics might be skeptical of generative AI because they feel it’s impersonal and unempathetic. Google’s life-advice chatbot could help to make AI chatbot technology more relatable and, in certain respects, more human.

Or, at the very least, it would provide another instance of Alphabet staying on the forefront of generative AI applications.

What’s Next for GOOG Stock?

Current and prospective investors should monitor for AI-related developments with Alphabet. Google is a leader in machine-learning technology, but there’s fierce competition in this area.

All in all, GOOG stock earns a “B” grade and has a decent chance of revisiting its prior all-time high price before the year is finished. So, place your bet on Alphabet, if you’d like, with a moderately sized share position.

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/market360/2023/08/googles-ai-power-play-why-goog-stock-is-set-to-soar/.

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