Bard is a collaborative effort between Google AI and [DeepMind](https://en.m.wikipedia.org/wiki/Google_DeepMind) which was ‘acquired’ by Google in 2014. Oftentimes, when companies are knowingly developing competing products, the first to market will be observed by their competitor, who will wait and tweak their design to differ from the first. Furthermore, companies with as many assets as Google don’t really benefit from being the first to market, and can afford to allow a competitor to be a market test dummy while they continue development. It’s likely Google had an algorithm ready soon after acquiring DeepMind, but had no incentive to incur the risk of being the first to an untested market.
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