Google Introduces Gemini for Business to Monetize AI Investments

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Google (NASDAQ:GOOGL) has unveiled a new tier of its AI-capable enterprise productivity suite, Gemini for Workspace, in a move to compete with rival Microsoft. The new offering, Gemini Business, is an add-on for Google’s Workspace suite of products, including Gmail, Docs, Meet, Sheets, and Slides, priced at $20 per user per month, making it $10 cheaper than Google’s existing Gemini Enterprise and Microsoft’s Copilot for Microsoft 365.

Gemini for Business enhances Workspace with email drafting assistance, data analysis, document creation, and more. It also provides access to a standalone version of Google’s Gemini via a custom landing page, powered by Google’s Gemini Ultra large language model.

Gemini for Enterprise offers all the features of Gemini for Business, along with the ability to translate captions in Google Meet in over 100 language pairs and, in the future, take meeting notes for users. Both Gemini for Business and Gemini for Enterprise are available to small and medium businesses and enterprises without a minimum user requirement. Google assures that user conversations with Gemini for Business or Gemini for Enterprise will not be used for advertising, reviewed by humans, or used to train its algorithms.

In addition to Gemini for Business, Google is launching its Google One AI Premium plan, which adds Gemini to the company’s consumer productivity suite, offering access to Google’s Gemini Advanced running on the Ultra 1.0 AI model. Google also plans to introduce Gemini for Workspace to education users in the coming weeks.

Google’s new offerings are aimed at competing with Microsoft’s Copilot for Microsoft 365, which provides similar generative AI features. The trend of integrating generative AI capabilities into business products is growing, with companies like Salesforce-owned Slack also introducing new AI agents.

Investors are closely watching tech firms to see returns on their AI investments. Microsoft has demonstrated the potential of AI services, with Azure revenue benefiting significantly. Both Google parent Alphabet and Microsoft have seen their shares rise substantially over the past year due to the AI trend.

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About the author: Stephanie Bédard-Châteauneuf has over seven years of experience writing financial content for various websites. Over the years, Stephanie has covered various industries, with a primary focus on tech stocks, consumer stocks, market news, and personal finance. She has an MBA in finance.