According to a report by UBS, the AI chatbot ChatGPT developed by OpenAI could potentially capture 30% of the global search market by 2024, posing a significant threat to Google’s dominance. The report suggests that ChatGPT’s ability to provide direct answers to queries, rather than just links, could disrupt the traditional search engine model. UBS analysts estimate that if ChatGPT achieves a 30% market share, it could result in a $32 billion revenue loss for Google. However, the report acknowledges that Google is also investing heavily in AI and could potentially integrate similar capabilities into its search engine. The rise of ChatGPT and other AI-powered search assistants could lead to a paradigm shift in how users interact with information and search engines, potentially reshaping the entire industry.
Source: https://www.businessinsider.com/chatgpt-search-market-share-google-openai-2024-12