In a recent CNBC “Fast Money” interview, Jason Helfstein, Managing Director of Internet Equity Research at Oppenheimer, shared his insights on Google’s approach to AI, particularly criticizing the tech giant for overly cautious measures. Helfstein, with a $175 price target on Google’s stock, highlighted the company’s struggles and potential for growth.
Helfstein voiced his concerns about Google’s conservative approach to AI.
“The company is putting too many guardrails on their AI,” he said, “because they’re too concerned about criticisms, and they just have to kind of lean in and stop being so defensive.”
Helfstein, it seems, believes that Google’s AI technology is being throttled by these restrictions, which in turn, produces dubious results.
Expanding on the types of limitations Google has imposed, Helfstein remarked: “There’s too many training wheels that have been put on their generative AI product and it’s actually hurting the output to the point where investors have lost confidence right now.”
He suggests that Google’s dominance in indexing the internet uniquely positions it to leverage AI more effectively than it currently does.
Addressing the future of search behavior and Google’s market position, Helfstein emphasized the excitement around ChatGPT’s human-like interactions. However, he noted the issues with fact-checking and the potential for generative AI to streamline tasks effectively.
“Google should let Gen AI do what Gen AI does, which is, you’re asking it to automate things,” Helfstein argued, advocating for a less restrictive approach to unleash AI’s full potential.
Featured image: Credit: CNBC
