Samsung is considering replacing Google with Microsoft's Bing as the default search engine on its devices, reported New York Times. The report with the statement from Samsung, caused Google's shares to drop by 4%, raising concerns at the company as an estimated$3 billion in annual revenue is at risk. Additionally, the potential loss of a$20 billion Apple contract, up for renewal this year, has further increased the company's worries. These developments could have a significant impact on the global search engine market and its users. Consequently, Google is reportedly in 'panic' mode, with executives and engineers scrambling to make radical changes to the search engine to keep pace with rivals who have already integrated AI technology into their products.

To combat this threat, Google is working on an 'all-new' version of Google Search that incorporates predictive, conversational, and revenue-generating features, along with other AI initiatives under the project name 'Magi.' However, Google has a track record of keeping its AI technology under wraps in its research vault, so it remains to be seen whether these projects will see the light of day.

What implications does this have for Google and (its) users worldwide?

Given the advancements made by its competitors in AI, Google's dominance in the market could be threatened. However, for users, this could translate into a more level playing field among search engines, resulting in increased competition and a broader range of options.