A new survey by brokerage firm Morgan Stanley has revealed that despite the popularity of chatbot services like ChatGPT and Google Bard, the majority of people have not yet used them. In fact, just 19% of respondents had used ChatGPT, while only 9% had used Google Bard. The poll also found that most of those not using chatbots were unlikely to do so within the next six months. Investors need to bear in mind the early stages of AI adoption when considering chatbot’s impact, according to the Morgan Stanley analysts.
Among early adopters, the majority of chatbot service usage is for learning about a particular topic. However, researchers also found that chatbots could be useful for product research, price comparisons and shopping, potentially leading to increased ad revenue. The survey found that 56% of respondents started their online shopping experience with a Google search, while 37% of those researching travel started with Google compared to 33% who used online travel services.
Morgan Stanley believes that Google could maintain its advantage in the search market by offering a more comprehensive and personalized travel search service using AI-generated search results and Bard. E-commerce and travel could see big benefits from AI-enabled searches and recommendations, contributing to increased revenue. Overall it seems that chatbots are still in the early stages of adoption, so while the potential for monetisation exists, it is important for investors to remember they are not yet being widely used.
