Is ChatGPT Taking Market Share From Google Search? Alphabet Could Have a Problem It Hasn't Had to Worry About for Years
Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) has built its business around two high-prized assets over the years: YouTube and Google Search. The latter, however, is facing some significant headwinds right now. Regulators have been taking a hard look at its dominance and recently found that it acted as a monopoly.
And with a rise in artificial intelligence (AI) chatbots, there may be less of a reason for people to rely on search engines at all. While the transition may not be instantaneous, there could already be a sign that Alphabet's business may be in trouble.
According to a recent survey conducted by investment banking firm Evercore that involved 1,300 Americans, 8% said they are using ChatGPT as their go-to search engine. That's up from just 1% a few months earlier. Google Search remains the leader with 74% of surveyed users relying on its results, but that is down from 80% in the earlier survey.
Source Fool.com
Alphabet Inc. C Stock
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