Chinese firm’s Stock skyrockets following the announcement of ChatGPT-Inspired AI Bot
Baidu’s shares rose by 13% in Hong Kong after the company announced the launch of its AI chatbot. The stock hit a high of HKD 159.80 per share in morning trading, marking its highest level since February 2022. In a statement, the company stated that its AI chatbot, named “Ernie bot” in English and “WenxinYiyan” in Chinese, is expected to complete internal testing by March and will be made public thereafter.
Baidu
Internet company
- Founders: Robin Li, Eric Xu
- Headquarters: Beijing, China
- Revenue: 12,449.3 crores CNY (2021)
- Founded: 1 January 2000, Beijing, China
- Number of employees: 45,500 (2021)
- Net income: 1,022.6 crores CNY (2021)
- Total assets: 38,003.4 crores CNY (2021)
Baidu confirmed its plans to launch its own AI chatbot, following the rise in popularity of Microsoft-backed ChatGPT. Google has also recently announced a similar service, known as Bard A. I. Ernie, meaning “Enhanced Representation through Knowledge Integration,” is a large AI-powered language model introduced in 2019. The company stated that It has since evolved into a series of advanced big models that are capable of handling a wide range of tasks, such as language understanding, language generation, and text-to-image generation.
According to a source familiar with the matter, Baidu is planning to launch an AI chatbot service in March. The chatbot service will initially be available as a standalone application before being integrated into the search engine by incorporating chatbot-generated results in response to user search requests. Baidu plans to roll out more AI-powered products soon, including deep learning algorithms that can be used for tasks such as automated vehicle control and facial recognition.
Baidu’s main competition is ChatGPT, an AI language model developed by OpenAI using transformer models. With fine-tuning on a vast text data corpus, ChatGPT generates responses that are similar to human responses to various questions and inputs. It is versatile and can be applied in chatbots, question-answering, and text generation.
ChatGPT is a widely recognized name in many households. OpenAI’s chatbot has achieved 100 million users in just two months after launch, surpassing popular apps like Instagram (2.5 years) and TikTok (9 months) to reach this milestone. The chatbot’s accuracy in performing various tasks has contributed to its rapid popularity.
According to fact checkers, ChatGPT may not always provide accurate answers, particularly with programmer commands and mathematical problems.
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