Key Highlights
- Microsoft‘s latest update for Bing Chat promises publishers increased revenue through new chat and answers features.
- The fast advancement of AI has spurred an arms race among tech firms, with Google and Meta Platforms also investing heavily in the sector.
Microsoft has unveiled an update for Bing Chat which it claims will enable publishers to maximize the potential monetization that comes with the new technology. The announcement highlights the growing trend among ad-supported platforms to shift from conventional search to interactive chatbots that have captured the attention of consumers, marketers, and publishers.Â
Bing Chat’s New AI Capabilities Drive Traffic and Revenue To Publishers
Microsoft’s Bing Chat attracts 100 million daily active users, and the latest update aims to drive more traffic to publishers and increase their revenue. As part of Microsoft’s Start program launched in 2021, additional capabilities will be made available to the platform’s 7,500 partner brands.
Monetization Efforts for Bing Chat
The company is forging monetization efforts to capitalize on the advantages of early-mover status in AI, even as the fast advancement of technology prompts concerns over the potential downsides for society and the impact on the workforce.Â
The generative AI debate has been sparked by the November 2022 launch of ChatGPT, a large language model developed by OpenAI. It has led to an arms race among tech firms to develop and implement more sophisticated technology. Google, for instance, has launched a similar interface called Bard, while Facebook-owned Meta Platforms is investing more heavily in the sector even as it reduces spending in other areas.
New Features
Microsoft has stressed the importance of AI in driving traffic to publishers and increasing their revenue. To achieve this, it is developing new features such as chat and answers and pioneering the future of advertising. For example:
- Chat and answers features: Microsoft’s latest update for Bing Chat includes new features that allow publishers to engage with users through interactive chatbots and provide answers to common queries.
- Increased traffic and revenue: By leveraging these new chat and answers features, publishers can attract more users to their content and generate additional revenue through ads and other monetization methods.
Microsoft has also overhauled its Bing and Edge products with the help of OpenAI, in which it invested $10bn a month before the Bing Chat update. Early tests of Bing Chat have received positive reviews, although the chatbot’s capacity for producing creepy or incorrect responses has been noted.
Microsoft Sees Potential For Personalized Advertising In Bing Chat
Ads can appear as inline placements in results, although the degree to which users are exposed to them appears to vary. According to Microsoft, advertisements in Bing Chat powered by AI have the potential to assist consumers in navigating intricate purchase journeys and ultimately provide enhanced personalization.
Despite concerns about AI’s potential impact on society, Microsoft appears to be forging ahead with its monetization efforts, which could help it maintain its status as an early-mover in the emerging AI sector.
