The Future of AI: What to Expect from Google I/O Developer Conference

Key Takeaways

• Alphabet’s Google will hold its annual developer conference, Google I/O, on Tuesday.
• Google could announce updates about its artificial intelligence (AI) initiatives at the event, as it did at its 2023 conference.
• Analysts suggested the event may bring more clarity about Google’s AI monetization plans.
• Google could also provide further color on how it has integrated AI into Google Search, as Microsoft-backed OpenAI is reportedly set to announce an AI-powered search engine that could increase competition.

Alphabet’s Google is set to host its annual developer conference on Tuesday, with investors likely to be watching for any updates related to artificial intelligence (AI).

At the 2023 Google I/O conference, AI took center stage with the company highlighting its AI chatbot, Bard, which has since been rebranded as Gemini. The company also announced AI integrations into its existing products and services like maps along with photo editing tools it worked on with Adobe.

Google could unveil new AI features, initiatives, or provide fresh details about the companies that it is partnering with to advance its AI offerings at this year’s conference.

AI Monetization Plans Could Become Clearer

Analysts suggested the event could also bring more clarity about Google’s AI monetization plans as tech giants work to secure their position in the AI race.

Melius Research analysts said they would “like to see the monetization path become clearer” at the conference. Bank of America analysts said “Google’s AI platform updates for developers at I/O” could be a “potential AI catalyst.”

AI Integration in Google Search as OpenAI Is Expected To Unveil AI Search Tool

Several AI-focused sessions are scheduled to take place during the I/O conference. One session, called “Web AI: New models, tools, and APIs for your next web app” could be of particular interest amid reports Microsoft-backed OpenAI is set to announce an AI product that could negatively impact Google.

OpenAI is reportedly expected to announce an AI-powered search engine ahead of the I/O conference which could rival Google’s offerings.

Alphabet shares closed 0.8% lower at $168.65 Friday. The stock has gained nearly 21% since the start of 2024.

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