AI Revenue Race Intensifies With Google’s Launch of Gemini for Workspace

Google on Wednesday launched an addition to its AI-backed Gemini for workspace. The debut of the business-based Gemini comes weeks after the tech giant rebranded its artificial intelligence bot to better reflect the underlying AI model. The move also comes at a time when major players in the industry are positioning themselves to mint on AI revenue in the future.

Google Launches AI-supported Gemini for Workspace

According to a CNBC report, Google unveiled a new version of its AI-enabled Gemini for Workspace. The new addition to workplace productivity comes with a suite of products, which already includes Gmail, Docs, Meet, Sheets, and Slides. The Gemini for Business costs $20 per user per month, which is $10 less than Google’s current Gemini Enterprise.

Google currently aims to extend Gemini’s capabilities inside the Workspaces suite to include document creation, data analysis, email drafting help, and more. Additionally, it offers access to Google’s Gemini standalone version through a unique landing page that makes use of the Gemini Ultra big language model.

Google’s move also comes at a time when competition among tech behemoths stands at an important turn. The race to mint the largest amount of AI revenue has kept all tech companies on their toes. Google’s move also highlights its efforts to beat peers like Microsoft, who has also geared up with its Copilot for Microsoft 365.

Tech Giants Position Themselves to Mint AI Revenue

Most publicly listed technological companies have already offered multiple products that are based on AI. Many of these companies also had a strict focus on artificial intelligence growth in their fourth-quarter earnings.  However, this exposure isn’t still profitable, though. At present generative AI is not now a major source of money for big market players like Google, Meta, or China’s Baidu. With an increase in product lists and constant new developments in AI bots, generative AI should begin generating interest, traffic, and income for large digital companies in 2024.

AI’s Poised Growth Beyond Companies

Tech companies are poised to mint significant portions of their future money from artificial intelligence due to the ongoing release of new subscription models and product lists. Furthermore, it is anticipated that the global artificial intelligence market will increase at a compound annual growth rate (CAGR) of 37.3% between 2023 and 2030.

Forbes predicts that China will gain the most from AI. By 2030, the nation’s GDP will have increased by 26%, and North America will gain by 14.5%. When combined, these benefits will come to $10.7 trillion, or more than 70% of the impact on the world economy.