News & Insights

Google's AI search issue

November 4, 2025

Time to Read: 2:15 mins

In this video, Walter Scott client investment manager George Dent uses Google as a case study to highlight the potential profitability issues facing companies that run artificial intelligence (AI)-driven search functions.

Key points:

Google’s traditional algorithmic search powers its natural monopoly, driven by improved effectiveness with search volume.
But if search is too efficient, there is a risk that users skip sponsored links, eroding ad click-through rates and endangering Google’s revenue model.
AI-driven search boosts results but incurs high compute costs, creating profit uncertainty.
Investors need to be sharp to spot potential emerging winners and losers in this evolving landscape.

2788059 Exp: 12 January 2026

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