New York: Alphabet Inc., the parent company of Google renowned for its advancements in self-driving cars and quantum computing, is focusing its most significant efforts closer to its core: online search.
Ruth Porat, Alphabet’s president and chief investment officer, emphasized that artificial intelligence (AI) integration into Google’s search business remains the company’s foremost initiative. Speaking at the Reuters NEXT conference in New York, Porat explained, “We’re meeting people where they want to be next,” during an interview with Reuters Editor-in-Chief Alessandra Galloni.
Google, which derives the majority of its $300 billion annual revenue from search-related advertising, has incorporated AI-generated overviews for complex queries without clear-cut answers. This move was partly in response to competition from OpenAI, the maker of ChatGPT. However, it has not been without challenges, as AI systems occasionally produce inaccurate outputs, often referred to as “hallucinations.”
Porat, Alphabet’s longest-serving chief financial officer before assuming her current role, highlighted the ongoing evolution of search and noted Google Cloud as another critical area of investment for the tech giant.
AI’s Role in Healthcare
Porat, a two-time breast cancer survivor, also shed light on Alphabet’s groundbreaking work in healthcare. She highlighted “AlphaFold,” an AI system developed to predict protein structures, which is now being applied to drug discovery through Alphabet’s Isomorphic Labs division.
AI, Porat said, has transformative potential in healthcare, from preserving vision for patients at risk of blindness to allowing medical professionals to focus more on patient care by minimizing time spent on administrative tasks. “It can restore humanity into the doctor-patient relationship,” she noted, referencing her personal experiences with her doctor’s aspirations.
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Strategic Investments in AI
When asked about Alphabet’s AI-related expenditures, Porat described the technology as a “generational opportunity.” In 2024, Alphabet is projected to spend $50 billion on chips, data centers, and other capital infrastructure to support its AI ambitions. However, she assured that the company’s investments would remain result-driven, balancing innovation with tangible outcomes.
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Porat’s comments underscore Alphabet’s commitment to not only maintaining its leadership in online search but also driving AI’s broader applications in industries like healthcare, reaffirming its vision for a future shaped by AI advancements.
