Microsoft's Bing is the first threat to Google's search dominance in decades

Microsoft (MSFT) on Tuesday unveiled what could be the biggest threat to Google's (GOOG, GOOGL) search empire in years with the release of its new Bing search engine powered by OpenAI's ChatGPT technology. It's a new paradigm for search," Microsoft CEO Satya Nadella said during an unveiling event held at Microsoft's Redmond, Washington campus. "Rapid innovation is going to come. A race starts today in terms of what you can expect. We are going to move fast." But Google controls 93% of the marketplace compared to Bing's 3%. So why bother starting a war? Simple: Microsoft wants a larger slice of the $570 billion digital advertising market. In 2022, the company saw $18 billion in ad revenue through search and LinkedIn. Google, meanwhile, pulled in $59 billion in Q4 alone. To that end, Microsoft has outfitted Bing with generative AI powered by a more advanced version of OpenAI's popular ChatGPT chat bot. One example of how this comes into practical use is by searching for whether a new LG ...