At its annual developer conference, Google parent company Alphabet (GOOGL) unveiled new voice features that let users ask questions on YouTube and create Google Docs with voice commands.
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The new voice command features are part of Alphabet’s efforts to integrate and monetize artificial intelligence (AI) across its various products and services. Alphabet CEO Sundar Pichai spoke at the conference, saying that AI is affecting every part of the technology giant.
Pichai described the current period as one of hyper growth driven by rapid technological advances, notably in AI. Alphabet is viewed as a market leader in artificial intelligence and its Gemini chatbot is seen as being the most powerful AI agent on the market today.
Alphabet Leads The AI Era
Alphabet has been restructuring its business and operations in recent months as it adapts to the AI era, targeting both consumer and corporate clients. Pichai said that changes made to incorporate more AI have led to increased usage of its Google search engine.
Additionally, the Gemini app, Google’s AI chatbot, has seen its usage more than double over the past year, said the CEO. Alphabet aims to compete with other technology giants such as Microsoft (MSFT) and China’s Alibaba (BABA) that are also global AI leaders.
Is GOOGL Stock a Buy?
The stock of Alphabet has a consensus Strong Buy rating among 33 Wall Street analysts. That rating is based on 28 Buy and five Hold recommendations issued in the last three months. The average GOOGL price target of $426.44 implies 9% upside from current levels.
