Google (GOOGL) Launches New AI Agent Tools to Take on Anthropic and OpenAI
Tech giant Google (GOOGL) is launching a new set of tools focused on AI agents, as it tries to compete more directly with OpenAI and Anthropic. These tools are designed to help businesses automate tasks by creating AI agents that can complete work and report back on progress. At a conference in Las Vegas, Google Cloud showed features like a dedicated inbox where these agents can post updates. In addition, the company explained how AI could change daily work by handling repetitive tasks and improving overall productivity.
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This move comes as competition for business customers continues to grow. Even though Google helped develop much of the technology behind today's AI boom, it is now racing to turn that into real revenue. At the same time, the company plans to spend heavily, with capital expenditures expected to reach up to $185 billion this year. As a result, investors want to see clear returns. To strengthen its position, Google is also working on new custom chips, including those built to run AI models, which puts it in more direct competition with Nvidia (NVDA).
On top of that, Google is trying to improve its tools for developers, especially for AI coding, where it has been seen as lagging behind. To fix this, it introduced updates to its Gemini Enterprise platform, including features that help AI remember past interactions and test how it performs before launch. It also launched a new collaboration tool that connects data from services like Workspace and Microsoft's (MSFT) OneDrive, so AI agents can work with better context. In addition, Google introduced cybersecurity-focused agents to help protect systems, which is becoming more important as AI uncovers more software vulnerabilities.
Are GOOGL Shares a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on GOOGL stock based on 26 Buys and five Holds assigned in the past three months. Furthermore, the average GOOGL price target of $387.68 per share implies 14.8% upside potential.