After internal 'panic', Google is rushing to unveil a new AI-powered search engine to compete with Microsoft Bing, report says

• Google is planning a new AI-powered search engine to compete with ChatGPT and Bing, the NYT reported.
• The company also is adding new features like increased personalization to its current platform.

Google is scrambling to release a new search engine as the artificial intelligence arms race continues to heat up, according to a report Sunday from the New York Times.

The tech giant is in the process of creating an AI-powered search engine, as well as updating technology within its existing platform, after hearing that Samsung could make Microsoft Bing the default program on its devices, per the Times.

The potential loss of Samsung, a $3 billion contract, led to widespread internal "panic" as the company scrambled to keep up with the explosion of ChatGPT and AI, per an internal email obtained by the Times.

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According to documents obtained by the Times, Google is updating its existing search engine as part of a project called Magi. An estimated 160 employees are currently working in "sprint rooms" to finish updated features in areas like increased personalization.

The company has been in a frenzy since December when it first issued a "code red" in response to the rise of ChatGPT, the popular AI-powered chatbot created by OpenAI. Threats to Google's long-held search engine dominance deepened when Microsoft teamed up with OpenAI to relaunch Bing in February.

Google did not immediately respond to Insider's request to comment, but told the Times "not every brainstorm deck or product idea leads to a launch, but as we've said before, we're excited about bringing new A.I.-powered features to search, and will share more details soon."