Meta Platforms Inc., the parent company of Facebook, is reportedly in the process of developing a new search engine designed to enhance the functionality of its AI chatbot. According to a Monday report by The Information, this initiative seeks to reduce Meta’s dependence on established search engines like Google and Microsoft’s Bing, which currently provide essential information on news, sports, and stock market updates for users of Meta AI.
The company’s ambition to create an in-house search engine signals a strategic shift in its approach to information retrieval. By relying less on third-party search engines, Meta aims to improve the efficiency and relevance of the information provided to its users. An anonymous source familiar with Meta’s search engine team revealed that this project is in its early stages, and the company is keen to explore ways to enhance its AI capabilities through direct access to web content.
The news of Meta’s plans has had an immediate impact on the stock market. Shares of Alphabet Inc., Google’s parent company, fell by as much as 0.8% following the announcement, reflecting investor concerns over increased competition in the search engine space. Meanwhile, Meta’s stock saw a slight increase of 0.3%, indicating a positive reception from investors regarding its ambitious plans.
This development comes as part of a broader trend where tech companies are increasingly investing in AI and search technologies to better serve their users. As Meta moves forward with its search engine project, it could reshape how users interact with its AI offerings and further establish the company’s presence in the competitive tech landscape.
Credit: BNNbloomberg (Text Excluding Headline)