Alphabet's AI Narrative Pivot

Alphabet's investors are banking on the upcoming developer conference to reshape the company's narrative amidst concerns about its market position. The tech giant is expected to showcase new AI innovations, including an AI agent for software development that can assist engineers throughout the entire software creation process. There are also rumours of Gemini AI chatbot integrating with Android XR glasses and headsets.

With increasing pressure to demonstrate returns on AI investments, Alphabet aims to reassure investors of its competitive edge. The conference will serve as a platform to evaluate Alphabet's progress against competitors like Microsoft-backed OpenAI, especially as antitrust regulators scrutinise its search and ad tech businesses. The event is being held in Mountain View, California, with the keynote scheduled for today, May 20.