Google focused on three areas of AI in the first quarter: developing large language models, empowering developers with Google tools and enabling organizations to benefit from AI advancements.
The tech giant specifically invested in its AI advances for its cloud customers as Google Cloud revenue soared year over year, Chief Executive Sundar Pichai said Tuesday during Google’s earnings call. In Q1, Google Cloud revenue increased 29% YoY to $7.5 billion, according to the company’s earnings supplement.
“We are bringing our generative AI advances to our cloud customers across our cloud portfolio,” Pichai said. “Productivity is a strong use case in which generative AI can help. On cloud, this has been an important moment as pretty much every organization is thinking about how to use AI to drive transformation.”
Google Cloud users include $26.4 billion Arvest Bank, which started a five-year partnership with Google in August 2022, and $1.7 trillion Wells Fargo, which worked with the tech provider on the launch of its AI-driven chatbot Fargo.
AI efforts continue to trend in Q1 as IBM and Microsoft both focused heavily on AI in the quarter.
[stock_market_widget type=”card” template=”basic” color=”#5679FF” assets=”GOOG” display_currency_symbol=”true” api=”yf”]
