Most observers could agree that the rise of generative artificial intelligence chatbots poses a threat to traditional search engines.
Indeed, Google search volume seems to have dropped recently, as some might have suspected could be the case as more “search” activity moves to generative artificial intelligence chatbots.
On the other hand, Google is not sitting idly by, and is aggressively moving to incorporate GenAI into its core search process. And there is some evidence the strategy is working. In December 2024, for example, Techloy research suggests Google held a commanding lead among GenAI searches, compared to ChatGPT, Bing and Alphabet’s own Gemini model.
Evercore analysts say there has been a notable increase in users adopting ChatGPT as their primary search tool, with usage rising from one percent to eight percent over a few months. Concurrently, Google's search engine usage declined from 80 percent to 74 percent.
Adobe reported a tenfold increase in U.K. traffic from AI sources to internet retailers between July and September 2024. Approximately 25 percent of Britons utilized AI for shopping, a figure projected to reach one-third by the end of the year.
Perplexity AI, an AI-driven search startup, experienced a sevenfold increase in monthly revenues and usage since early 2024, achieving $35 million in annualized revenues.
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