Tech Desk 
Oct 30, 2024
Google CEO Sundar Pichai revealed that artificial intelligence (AI) now generates over 25% of the company's new software code.
This disclosure came during Alphabet's Q3 2024 earnings call, where the company reported impressive financial results.
AI's role in Google's financial growth
Pichai emphasised AI's crucial role in the company's growth strategy. Google’s parent company, Alphabet's, revenue reached $88.3 billion, with Google Services driving $76.5 billion, representing a 13% year-over-year increase.
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Google Cloud also saw significant growth, achieving $11.4 billion in revenue, reflecting a 35% increase in year-over-year growth.
In operating income, Google Cloud experienced an even more significant increase, reaching $1.95 billion compared to $270 million last year.
Google has integrated AI into its core offerings, introducing innovative tools across Search, Cloud, and consumer products. AI-driven enhancements in Search expand its capabilities, while personalised AI chatbots, "Gems," powered by Gemini AI, offer tailored interactions.
Moreover, YouTube, another Google-owned platform, provides creators with access to generative AI tools that help create video summaries and titles.
Additionally, Google Meet now offers an AI note-taking tool, enabling users to capture meeting highlights more effectively.
Despite strong financials, the company still faces regulatory uncertainty with the US Department of Justice labelling Google as a monopoly in search and advertising markets. While the case enters the remedies phase, there is a possibility of a breakup or significant structural changes.
