The new Bing is a potentially lucrative opportunity for Microsoft that could earn the company $2 billion for every percentage point of market share it gains in the search advertising market.
Microsoft has started discussing with ad agencies how it plans to make money from its revamped Bing search engine powered by generative artificial intelligence as the tech company seeks to battle Google’s dominance.
Early search results and conversations with Microsoft’s Bing and Google’s chatbot called Bard have shown they can be. Alphabet lost $100 billion in market value on the day when it released a promotional video for Bard that showed the chatbot sharing inaccurate information. The company said it is taking traditional search ads, in which brands pay to have their websites or products appear on search results for keywords related to their business, and inserting them into responses generated by the Bing chatbot, the ad executive said.Microsoft is also planning another ad format within the chatbot that will be geared toward advertisers in specific industries.
Microsoft’s Edge web browser, which uses the Bing search engine, has a market share under 5% worldwide, according to one estimate from web analytics firm StatCounter. This week, when a Reuters reporter asked the new version of Bing outfitted with AI for the price of car air filters, Bing included advertisements for filters sold by auto parts website Parts Geek.
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