The popularity of Microsoft-backed AI platform ChatGPT appears to be declining, according to an analysis by Bank of America Securities.
The app downloads for ChatGPT and Microsoft Bing, which utilizes ChatGPT technology, have seen a slowdown in recent weeks. Data from research firm Sensor Tower shows that ChatGPT downloads on iPhones in the US were down 38% month over month in June, while Bing app downloads were also down 38% in the same period.
In contrast, Google’s search engine market share remains strong, with over 92% market share, as per SimilarWeb data. The decline in ChatGPT’s popularity raises questions about the viability of large language models (LLMs) as a potential threat to Google’s dominance in search.
However, it may indicate that LLMs have potential in other areas, such as new advertiser tools. Despite the decline in app downloads and website visits, the absolute number of ChatGPT users remains relatively small compared to Google’s web traffic. The declining popularity of ChatGPT has raised concerns about the investment risk for companies like Google and Microsoft that have heavily invested in AI advancements.
