China’s Baidu Sees a Rise in Share Price Following the Announcement of ChatGPT Rival
Chinese search giant Baidu has introduced its own AI chatbot, a service similar to ChatGPT that generates text using AI depending on the input it receives. Following the news on Tuesday, the company’s shares had a quick surge of 12% to $160.22, its highest level since March 2022.
Baidu Launches New Project to Join AI Fever
Chinese internet giant Baidu revealed its ChatGPT-inspired chatbot on Tuesday. According to a report by regional media site CnStock, the service, known as “Ernie Bot” in English or “Wenxin Yiyan” in Chinese, is scheduled to debut in March and will be integrated into Baidu’s search engine.
In 2020, Baidu Search will start implementing the AI service technology to “deeply empower search relevance, in-depth question and answer, and content understanding,” according to the report. Related functions of [Ernie Bot] have already been launched or tested in Baidu search, including multiple answer replies, intelligent generation, etc.
According to a Baidu representative quoted by CNN, Ernie stands for “Enhanced Representation via Knowledge Integration.” The chatbot can now write essays and poetry, or it may use text prompts to create graphics automatically. It is built on a language model that Baidu initially created in 2019.
Just two months after its debut, the chatbot had 100 million users, demonstrating its explosive growth.
It’s important to note that Microsoft and OpenAI have developed a tight working connection. Microsoft has also introduced a new version of the Bing search engine that integrates DALL-E 2, the language technology underpinning ChatGPT, from OpenAI. According to a statement made on Wednesday by the internet giant, Bing is now a “web co-pilot driven by AI.”
The AI Chatbot for Google Makes a Mistake
Google made the decision to showcase its AI chatbot in a promotional movie in order to convince investors that it is not falling behind the curve. The bot, known as Bard, was featured in a Twitter advertisement on Monday that showed it responding to a question inaccurately.
Bard claimed that the JWST telescope was the first to take pictures of a planet outside of our solar system when, in reality, that distinction was made by the European Very Large Telescope in 2004 when the bot was asked to inform a nine-year-old about discoveries made by the James Webb Space Telescope.
Why didn’t you verify this example’s accuracy before using it? Newcastle University colleague Chris Harrison responded to the tweet.
Alphabet, the parent company of Google, lost $100 billion as a result of the error, with its stock falling more than 7% on Wednesday.
On the other side, the new AI initiative caused Baidu’s stock to soar. The price of Baidu’s shares rose 12% on Tuesday to $160.22, the highest level since March 2022. The company’s shares is currently up $1.57 in pre-market trade, trading at $154.