Google Rebrands Brad Bot as Gemini and Launches a Premium Edition
Google is rebranding its AI program, Brad, as Gemini to align with its underlying AI model. The tech giant is also introducing significant improvements to its generative AI bot and launching a premium edition called Gemini Advanced. This paid version allows users to access Gemini Ultra, Google’s largest AI model, for $19.99 per month. As part of the Google One AI Premium plan, users will also receive 2TB of Google Cloud storage and future updates that expand Gemini to other Google products like Docs, Gmail, Slides, and Sheets.
Google’s Expansion into the AI Market
In December, Google introduced its Gemini AI model and started utilizing it with Bard. With the rebranding of Bard as Gemini, Google aims to create an ecosystem for the platform. Three versions of Gemini are available: Nano for smartphones, Pro for companies, and Ultra for high-end AI applications like the Gemini chatbot. This move positions Google alongside competitors like Microsoft and OpenAI in the race to dominate the AI market.
The Growing Importance of AI Revenue for Tech Companies
While many publicly listed companies have some exposure to AI tools and integration, generative artificial intelligence has not yet become a significant revenue contributor for companies like Google, Meta (formerly Facebook), and Baidu. However, with the introduction of new subscription models and product offerings, tech giants are expected to generate substantial revenue from AI in the future. The global artificial intelligence market is projected to grow at a compound annual growth rate of 37.3% from 2023 to 2030, with China expected to benefit the most.
According to Forbes, China’s GDP is forecasted to increase by 26% by 2030 due to AI, while North America will see a 14.5% boost. Together, these regions will contribute over 70% of the global economic impact, amounting to $10.7 trillion.
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