Last month Microsoft (MSFT) announced that it was expanding its investment in OpenAI and ChatGPT to the tune of billions of dollars.
This week, the company is revealing the applications it will get in return for such a hefty sum.
Bing, Microsoft's search engine rival to Google (GOOGL), will get an upgrade from the AI-powered technology. Microsoft will launch the new product along with an upgraded version of its Edge web browser.
“It’s a new day in search," CEO Satya Nadella said at an event, according to The Verge.
“The race starts today, and we’re going to move and move fast. Most importantly, we want to have a lot of fun innovating again in search, because it’s high time.”
The new Bing search engine will display the normal algorithmic-based search engine results alongside AI annotations and a chat interface.
The new search engine will be available "for desktop limited preview" starting today, with users being able to sign up for full access in the future.
Microsoft's Big Bet on OpenAI
Internet search has been dominated by Google for decades.
As of Dec. 2022, Google had a global internet market share of more than 84% compared to just about 9% for Bing, according to Statista.
At the time it announced the investment, the third it has made into OpenAI, the company said that the plan was to expand its collaboration with the ChatGPT chatbot.
Earlier this month, Semafor reported that Microsoft will invest $10 billion in OpenAI in a deal that values the San Francisco-based group at around $29 billion.
Microsoft would recoup cash from OpenAI's profits under terms of the deal, Semafor reported, and then ultimately own a 49% stake in the group.
