Alphabet’s (NASDAQ:GOOGL) subsidiary, Google, has revealed the general release of its assistive technology, Duet AI, backed by generative AI. This technology is now accessible for Gmail, Drive, Docs, and more within Google Workspace.
Organizations utilizing Google Workspace will have the opportunity to leverage the capabilities of this AI assistant, which comes with a range of innovative features. Duet AI serves as a meeting companion for Google Chat, a document summarization tool, and even offers customization options for smart replies in Gmail.
Additionally, Duet AI makes effective use of content from Google Drive and Gmail to create visual aids, provide support during meetings, and even stand in on behalf of users, offering a trial period at no cost for interested parties.
The introduction of Duet AI can be interpreted as a strategic step taken by Alphabet’s Google to compete with its counterpart, Microsoft (NASDAQ:MSFT). It’s worth noting that Microsoft also presents a similar offering named Copilot, an in-house AI system integrated across various Office applications.
This recent development bolsters Alphabet’s Google Workspace portfolio. The company has consistently endeavored to elevate its Google Workspace services by incorporating generative AI into its working environment.
In addition to this initiative, the incorporation of an array of AI-powered writing features into Google Docs and Gmail for select testers deserves attention. These features empower users to draft, revise, summarize, and proofread content within Docs and Gmail.
This move is anticipated to have a positive impact on the performance of Google Cloud, an integral part of Alphabet. In the second quarter of 2023, Google Cloud reported revenues of $8.03 billion, constituting 10.8% of the total quarterly revenues and demonstrating a year-over-year growth of 28%.
Based on our projections, Google Cloud is anticipated to generate revenues of $31.44 billion in 2023, showcasing a year-over-year growth of 19.6%. The company’s AI-optimized infrastructure, expansive language models, AI platform services, and ongoing advancements in generative AI offerings are all poised to continue contributing significantly to the growth of Google Cloud’s revenues.
The robust performance within this highlighted sector is expected to positively influence the overall financial outlook, potentially boosting investor confidence in the company’s stock.
Year-to-date, Alphabet has achieved a notable growth of 52.5%, surpassing the industry’s growth rate of 50.9%.
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