The organization announces the product launch alongside the new AI-enhanced features for its Edge browser, promising users that the two will offer a fresh experience for acquiring information online.
Microsoft, in a blog post, claims the new version as a technical breakthrough with its next-generation OpenAI model. “We’re excited to announce the new Bing is running on a new, next-generation OpenAI large language model that is more powerful than ChatGPT and customized specifically for search. It takes key learnings and advancements from ChatGPT and GPT-3.5 – and it is even faster, more accurate, and more capable,” the blog post states.
In regards to the product launch, Microsoft CEO Satya Nadella says “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.” at a special event at Microsoft headquarters in Redmond, Washington.
According to Nadella, he believed it was ready to transform how people interact with other applications and do online searches. "This technology will reshape pretty much every software category that we know," he said.
With the latest advancements, Bing will now respond to search queries in a more detailed manner, rather than just links and websites.
Additionally, Bing users can now interact with bots to efficiently customize their queries. On the right side of a search results page, more contextual responses will be added.
The announcement comes a day after Google unveiled information regarding Bard, its own brand-new chatbot.
With both companies striving to launch their products to the market, Microsoft's investment, according to analyst Dan Ives of Wedbush Securities, will "massively increase" the company's capacity to compete, he said in a note to investors following the news.
"This is just the first step on the AI front ... as [the] AI arms race takes place among Big Tech," he added. Microsoft has been spending billions on artificial intelligence and was an early supporter of San Francisco-based OpenAI.
It declared last month that it will be extending its partnership with OpenAI through a "multiyear, multibillion-dollar investment."
Bing will employ OpenAI technology, according to Microsoft, which is even more sophisticated than the ChatGPT technology announced last year. Additionally, the powers will be added to its Edge web browser.
