AI冲击Google搜索广告，怎么就成了伪命题？

Core Insights - Google's search market share rebounded to 90% in Q3, and its advertising business growth accelerated after a period of slowdown, indicating a recovery from the initial impact of AI technologies like ChatGPT [5][10][30] - The rise of AI has not killed traditional search but has expanded the overall market, as evidenced by increased traffic and advertising revenue for both Google and other major players like Baidu and Tencent [9][10][19] Group 1: AI and Search Dynamics - AI has created a new segment of search demand, allowing for more complex queries and longer search phrases, which enhances user engagement and advertising effectiveness [32][39] - Google's integration of AI into its search engine has led to a doubling of average query length, indicating a shift in user behavior towards more detailed inquiries [32][34] - The AI-driven search model has improved click quality, as users spend more time on target websites, thus increasing conversion potential [34][39] Group 2: Competitive Landscape - Google benefits from a robust ecosystem with multiple applications, allowing it to leverage AI across various consumer touchpoints, unlike domestic players who face significant barriers due to app fragmentation [44][46] - Domestic competitors like Baidu and Tencent are struggling to achieve similar levels of integration and user engagement, leading to concerns about their long-term viability in the AI advertising space [46][48] - Despite the challenges, domestic players are also innovating with AI tools, as seen in Tencent's advertising products and Baidu's AI search enhancements, which have shown significant revenue growth [43][46] Group 3: Market Reactions and Financial Performance - Google's Q3 financial results demonstrated that the monetization rate of its AI features is comparable to traditional search, dispelling initial concerns about revenue loss due to AI integration [30][31] - The advertising click-through rates have seen a significant decline, but the overall revenue from AI-driven searches is compensating for this drop, indicating a shift in the advertising landscape [29][30] - The emergence of new advertising tools like AI Max is helping advertisers capture user intent more effectively, leading to increased engagement and revenue opportunities [40][43]