Alibaba is the latest tech giant to wade into artificial intelligence chatbots by developing a tool like ChatGPT.
It joins Microsoft, Google, and Baidu in doing so amid heightened interest in generative AI technology in 2023.
Investors in Alibaba (ticker: BABA) may be cheering the Chinese tech giant’s decision to develop a public-facing AI chatbot, with shares in the group jumping 2% in U.S. premarket trading.
Alibaba has developed and is currently putting a ChatGPT-style tool through internal testing, the company said Wednesday.
“Frontier innovations such as large language models and generative AI have been our focused areas since the formation of DAMO [investment for research & development] in 2017,” an Alibaba spokesperson said. “As a technology leader, we will continue to invest in turning cutting-edge innovations into value-added applications for our customers as well as their end-users through cloud services.”
DAMO is Alibaba’s “Academy for Discovery, Adventure, Momentum and Outlook,” launched in 2017 with the goal of investing more than $15 billion in research and development across the next three years. Like Baidu, Alibaba is a legacy Chinese tech giant that is increasingly pivoting to high-growth areas that are exposed to AI. At its core an e-commerce company, Alibaba has a booming cloud computing business, which is a segment of the group that is leading its high-tech push.
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“China’s” Alibaba is Western owned in terms of stockholders (Japan, US). Jack Ma was just a puppet.
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