Google executive: Search artificial intelligence is the biggest bet, expected to invest $50 billion in 2024
Google President and Chief Investment Officer Ruth Porat stated that applying artificial intelligence to its search business is Google's biggest bet, with an expected investment of $50 billion in related technologies in 2024. Despite facing competition and technological challenges, Google remains committed to this strategy and is introducing AI features into its search tools. Porat also mentioned that Google Cloud is another important investment area and shared personal experiences in healthcare and Google's AI applications in drug development
According to reports, Ruth Porat, President and Chief Investment Officer of Google (GOOGL.US), revealed at a conference that Google's biggest bet is on applying artificial intelligence to its search business. Despite facing technological competition and issues with AI models, Google remains committed to advancing this strategy.
Porat emphasized that integrating artificial intelligence into the search business is Google's current core strategy. Google has introduced AI overviews in its search tools and added advertisements, while also incorporating shopping ads into Google Lens. However, the new search features launched by ChatGPT, supported by Microsoft-backed OpenAI, have undoubtedly intensified the competitive pressure on Google in the search domain. Despite issues such as AI hallucinations and other erroneous or misleading results, Google remains optimistic about the development potential of AI in the search field.
In addition to the search business, Porat also pointed out that Google Cloud is another important investment for the company. When asked whether Google's investment costs in artificial intelligence would follow industry trends and increase, Porat stated that AI represents a "generational opportunity." She revealed that Google plans to invest $50 billion in 2024 for chips, data centers, and other capital expenditures, but emphasized that Google would make cautious bets based on results.
Furthermore, Porat discussed Google's efforts to improve healthcare. As Google's longest-serving Chief Financial Officer, she shared her personal experience of being diagnosed with breast cancer and introduced Google's project using the "AlphaFold" AI system to predict protein folding for drug development applications. Porat noted that AI can not only provide vision assurance for those at risk of blindness but also alleviate the screen burden on medical professionals, allowing them to focus more on patient care