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As interest in generative artificial intelligence (AI) continues to gain momentum, China’s Baidu Inc (9888. HK) announced on Tuesday (Feb 7, 2023) that it would finish internal testing of a ChatGPT-style project called ” Ernie Bot” in March.
Shares of the Hong Kong-listed search engine giant ended Tuesday’s trading session with a gain of 15.3%, while US-traded shares posted an 11.2% gain on the morning shift
Read more: What is Chatgpt? Everything you need to know about it
As a result of the global excitement surrounding Microsoft-backed chatbot sensation ChatGPT (MSFT.O), speculative bets on the new technology rose, prompting a flurry of Chinese AI stocks to rise as well.
ChatGPT, which can generate articles, essays, jokes, and even poetry in response to prompts, has been named the consumer app with the fastest growing user base in the market’s history just two months after its initial launch.
It has spurred a number of tech companies to redouble their efforts on the much-touted generative AI technology, which until relatively recently resided more in the background than a significant contributor to the bottom line.
Alphabet Inc (GOOGL.O), the parent company of Google, announced on Monday that it would launch a chatbot service and add more artificial intelligence to its search engine. Meanwhile, Microsoft plans to reveal its own AI on Tuesday, highlighting the growing competition between the two companies to lead a new wave of computing.
On Tuesday, Baidu, which is essentially the equivalent of Google in China, joined the frenzy.
He said Ernie, or “Enhanced Representation Through Knowledge Integration,” is a great AI-powered language model that was introduced in 2019. It has gradually grown to be capable of tasks including language comprehension, language generation and text to image conversion. generation. Ernie got his name from the acronym for “Enhanced Representation Through Knowledge Integration”.
Also Read: OpenAI Launches ChatGPT Plus Subscription Plan
A person with knowledge of the situation told Reuters last week that Baidu was aiming to launch a service similar to this in March.
The individual stated that Baidu’s goal is to make the service available as a separate application at first and then gradually include it in its search engine by adding chatbot-generated results whenever users make search requests.
Although ChatGPT and other essential Google services are not available in China, some users have found workarounds to access these tools.
Beijing-based Baidu has often been among the first companies in China to implement new technology trends.
In late 2021, when the term “metaverse” was becoming more and more popular, the company announced the debut of “XiRang”, which it referred to as China’s first metaverse platform.
Also Read: Google Introduces AI Bard To Compete With ChatGPT
Despite widespread criticism that the platform does not provide a high-quality immersive experience, Baidu has stated that development of the product is still ongoing.
As the company seeks to diversify its revenue streams, it has made significant investments in artificial intelligence (AI) technology, including cloud services, chips and autonomous driving.
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