While concerns have been raised regarding the efficacy and commercial viability of artificial intelligence-powered chatbot ChatGPT, the largest tech firms in China are racing to develop their own versions of the product.
This week, a number of companies including Alibaba Group Holding, Tencent Holdings, Baidu, NetEase, and JD.com declared their intention to trial and eventually launch services comparable to ChatGPT. In other words, they want to prove that the outcomes of their AI research are equally as market-ready as their American competitors.
Since its debut in November, Microsoft-backed ChatGPT has been heralded as the consumer app with the most rapid expansion in history. As a result, a pursuit ensued. If you give it some inspiration, the chatbot can write just about anything, from articles and essays to jokes and poetry. Google has now unveiled its own, similar tool, dubbed Bard AI. Alphabet, the company that owns Google, had a steep dip in its stock price on Wednesday after a shaky demonstration of the technology.
When it comes to the technological competition between the United States and China, artificial intelligence related technology is at the forefront. The ramifications for international relations are significant as well.
Baidu’s stock price rose to a new all-time high on Monday after the company revealed it would be releasing an automated chatbot similar to ChatGPT. Company representatives claim that the technology behind this bot has been in the works since 2019. The company intends to complete internal testing of the chatbot in March before making it available to the general public.
Following Baidu’s announcement, Alibaba stated that it is experimenting with a ChatGPT-like technology, but provided no further information. The online retailer saw its share price rise by 3.96 percent in Hong Kong on Thursday.
On Thursday: “Tencent announced that its research into ChatGPT-style and AI-generated content is proceeding “in an orderly fashion.”
JD.com, a major online retailer, has stated its intention to incorporate natural language processing and other technology popularized by services like ChatGPT into its own offerings.
“A major gaming business, NetEase, has stated that it is investigating the use of artificial intelligence in the creation of content for its educational division.”
As reported by Chinese media on Thursday, ByteDance’s AI lab has begun investigating technologies that could boost its Pico virtual reality division. A ByteDance employee with knowledge of the matter refuted the allegation to Nikkei.
The AI hype, according to some professionals, needs to be tempered with skepticism.
According to a senior executive at one of China’s top publicly traded internet companies, “using material created by AI is natural.” An executive who preferred to remain anonymous said as much. Many businesses claim to be developing the “next big thing” whenever one is predicted, although some of them may be utilizing the term “next great thing” only as a marketing gimmick.
According to Morningstar Asia Limited’s senior equities analyst Kai Wang, many Chinese AI firms look to technologies like ChatGPT as a way to sustainably expand their product lines. When Baidu announced their product launch intentions in March, many other AI businesses jumped at the chance to compete.
However, Wang argued that it was unclear how a chatbot would function in China because such technologies were still in their infancy there.
The competitive landscape, the rules, and the efficacy of it are all unknowns at this time, he said. We need to be wary of the potential profits from these products and the potential losses to our margins.
“On Thursday, Chinese AI-related equities dropped as state media cautioned against putting too much faith in “certain novel concepts.”
Some people gamble big on bogus ideas, tempting others into pump-and-dump schemes, according to an editorial in the Securities Times. As the old adage goes, “If you’re going to invest, you might as well cry about it.”
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