Alphabet (GOOGL) is firing on all cylinders in the booming AI space on the back of its continuous efforts. Its division, Google, is leaving no stone unturned to make the most of Microsoft (MSFT) in the generative AI game.The latest introduction of its new, advanced, powerful, large language model (“LLM”), namely Gemini, is a testament to the same.Alphabet’s shares rallied 5%, closing at $136.93 on Dec 7, following the launch of Gemini.Gemini is available in three different sizes, Gemini Ultra, which is its largest and most capable one; Gemini Pro, which is designed to offer scalability across various applications; and Gemini Nano, which is designed for specific tasks and mobile devices.Gemini Ultra is expected to be launched next year and is based on a combination of 57 subjects, such as math, physics, history, law, medicine and ethics, to name a few. It is marked as the first model to outperform human experts in massive multitask language understanding.Meanwhile, Gemini Pro and Gemini Nano will be licensed through Google Cloud so that they can be easily accessible to developers and enterprise customers from Dec 13.GOOGL has powered its Bard chatbot and Search Generative Experience (“SGE”) with Gemini Pro. Gemini Nano is likely to turn out to be very useful for Android developers. Pixel 8 Pro models will include Gemini Nano features.Google plans to power its upcoming Bard Advanced with Gemini Ultra. Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote  Growth ProspectsPer an Allied Market Research report, the global generative AI market’s value is likely to hit $191.8 billion by 2032, witnessing a CAGR of 34.1% between 2023 and 2032.A Fortune Business Insights report shows that the global generative AI market size is expected to reach $667.96 billion by 2030, seeing a CAGR of 47.5% between 2023 and 2030.We believe Alphabet remains well-poised to capitalize on this upbeat scenario on the back of Google’s latest move as well as other endeavors. Currently, Alphabet carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Google, which forayed at the beginning of this year by unveiling its chatbot Bard, recently rolled out consulting services to bolster generative AI efforts. The new offerings include advice and tools through which Google Cloud strives to aid clients in adopting generative AI techniques.These tools are designed to help customers boost automation in their business operations by generating content and summarizing information with the power of AI.Google is set to add an AI-powered “Help me write” feature to Chrome for Desktop use. The new feature can adjust its writing style, including “Shorten” or “Elaborate” options, as well as “Casual” or “Formal” options.Also, it is set to add a “Help me create a list” feature to its Keep Notes app for Android, assisting users in generating lists for various tasks, including planning, packing, grocery shopping and task completion.Google’s recent expansion of SGE across 120 countries to boost the reach of its AI-powered conversational search feature globally remains positive. Google to Take on MicrosoftThe search giant had already entered into a cut-throat competition with Microsoft on the back of Bard, a counter to ChatGPT, a chatbot from the Microsoft-backed startup OpenAI.Now, Google is set to elevate its game with Gemini, which it expects to take down OpenAI’s next-generation LLM — GPT-4. Gemini Pro has already outperformed GPT-3.5.On the other hand, Microsoft continues to make strong efforts to boost its generative AI capabilities. Its integration of GPT-4 into its search engine Bing and browser Edge to deliver a ChatGPT-like experience to users remains noteworthy.Microsoft Azure offers the Azure OpenAI Service, which enables the seamless application of LLM and generative AI techniques in various use cases.It recently announced OpenAI’s DALL-E 3 AI image-synthesis model, fully integrated with ChatGPT, which challenges previous models by rendering images with complex descriptions and handling in-image text generation. How Are Others Placed?In addition to Microsoft, Google’s strong generative AI efforts pose a competitive threat to companies like Meta Platforms (META) , Amazon (AMZN) and Adobe (ADBE) , which are also making concerted efforts to capitalize on the abovementioned prospects.Meta forayed into the space of LLMs with its state-of-the-art foundational language model known as Large Language Model Meta AI (“Llama”). In collaboration with Microsoft, Meta unveiled the next generation of Llama, called Llama 2. The social media giant also released Code Llama, an LLM that can use text prompts to generate and discuss code.Amazon’s AWS recently announced the general availability of its fully managed service called Amazon Bedrock. It provides seamless access to high-performing foundation models (“FM”) from AI companies through an API. The company also made the Amazon Titan Embeddings model generally available. It added Meta’s Llama 2 to Amazon Bedrock as a new model, which will be available through API.The e-commerce giant’s investment plans in Anthropic remain noteworthy. Amazon will invest $4 billion to acquire a minority stake in Anthropic. This investment will allow AWS to provide access to Anthropic’s future FMs to its customers. These FMs will be available through Amazon Bedrock.Meanwhile, Adobe recently announced the commercial release of its family of creative, generative AI models — Firefly.Adobe Firefly supports text prompts in over 100 languages, helps creators make several changes to their content, creates endless variations seamlessly and bolsters image generation capabilities.More By This Author:Bull Of The Day: Griffon Bear Of The Day: Clearway Energy Bull Of The Day: Zoom Video Comms