Chinese ChatGPT RIVAL from search engine firm Baidu fails to impress | Latest English News | WION

Chinese ChatGPT RIVAL from Search Engine Firm Baidu Fails to Impress | Latest English News | WION

China's answer to ChatGPT was unveiled but it failed to impress markets. The shares of Chinese search engine giant Baidu plunged nearly 10% before recovering some ground. Baidu, a major Chinese search engine, finally showed off its artificial intelligence (AI)-powered chatbot, Ernie Bot, on Thursday. The world got a glimpse of what could be China's strongest rival to U.S. research lab OpenAI's ChatGPT. However, the short pre-recorded video that served as Ernie Bot's introduction fell short of the market's high expectations.

The buzz created by ChatGPT since its announcement late last year has been unprecedented. Chinese tech giants and startups have been in a mad dash to create an alternative to Microsoft's ChatGPT because of the app's success. To claim first place, Baidu announced early last month that it was nearly finished with a chatbot using its AI-driven deep learning model, Ernie. Ernie is short for Enhanced Representation through Knowledge Integration. Baidu introduced Ernie Bot in a presentation at its Beijing headquarters just two days after Google announced a slew of artificial intelligence tools for its offerings. Microsoft is rumored to be planning a Google-countering announcement soon.

Baidu CEO Robin Li presented Ernie Bot and said, "For sure, we cannot say that it's perfect. So why are we unveiling it today? Because the market demands it." He added that markets were unimpressed with Baidu's new AI, as shares of the search engine fell nearly 10% during the session. The company's stock ended Thursday nearly 7% lower, wiping over $ 3 billion off its market value.

Baidu claims that it is in the best position to lead the charge to develop China's equivalent to ChatGPT because of its extensive history of research and development spending on artificial intelligence and deep learning. In 2022, Baidu spent about $ 3.1 billion on R&D, or about 22% of its revenue. The Chinese search engine giant hopes to use Ernie Bot to revolutionize its search engine. Baidu is currently the most populous search engine in China.

Earlier this week, OpenAI announced that it will begin releasing a powerful AI model called GPT-4. OpenAI described GPT-4 as a multi-modal model, which means that it can respond to both visual and textual cues when asked to generate content. During his speech, the Baidu CEO acknowledged GPT-4 by nodding and remarking that its arrival demonstrated the high barrier for this type of technology. He said GPT-4's ability to summarize information surpassed Ernie Bot. However, he warned against making any hasty geopolitical conclusions. He said that Ernie Bot is not a tool of confrontation between China and the United States. He reassured everyone that the two countries would not be at odds over new technology.

He also mentioned that 650 businesses have already committed to becoming part of the Ernie ecosystem. The CEO added that some of the sign-ups for Ernie Bot's partnerships include Shaolin temples and official Chinese media outlets. For now though, the disappointment of Baidu's unveil reflects Google's hasty introduction of its AI called Bard last month.

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Keywords

• Ernie Bot
• Baidu
• AI-Powered Chatbot
• ChatGPT
• Artificial Intelligence
• Deep Learning
• Market Reaction
• R&D Spending
• GPT-4
• Google Bard

FAQ

Q: What is Ernie Bot? A: Ernie Bot is an AI-powered chatbot developed by Chinese search engine giant Baidu. It stands for Enhanced Representation through Knowledge Integration.

Q: Why did Baidu's shares plunge after unveiling Ernie Bot? A: Baidu's shares fell nearly 10% because the market had high expectations for the bot, which were not met by the short pre-recorded video introduction.

Q: How much did Baidu spend on R&D in 2022? A: Baidu spent about $ 3.1 billion on research and development, which is around 22% of its revenue.

Q: What did the CEO of Baidu say about Ernie Bot's current state? A: Baidu CEO Robin Li admitted that Ernie Bot is not perfect but stated that it was unveiled to meet market demand.

Q: How did OpenAI's announcement about GPT-4 impact Ernie Bot? A: The release of GPT-4 highlighted the high technical barriers for such technology, and Baidu acknowledged that GPT-4's ability to summarize information surpassed Ernie Bot.

Q: Is Ernie Bot aimed at competing with the U.S.? A: According to Baidu's CEO, Ernie Bot is not a tool of confrontation between China and the United States.

Q: How many businesses have committed to the Ernie ecosystem? A: Approximately 650 businesses have committed to becoming part of the Ernie ecosystem, including Shaolin temples and official Chinese media outlets.