Microsoft and partner OpenAI have changed the face of tech in just a few weeks. Microsoft has gone all-in on AI across its services, including bringing technology from OpenAI’s ChatGPT to Bing Chat. This surge has left Google scrambling, sending off a code red at the search giant and prompting it to rush-launch its Bard chatbot. However, in China, tech companies are suggesting they are falling behind.
According to Bloomberg, they are warning investors do lower their exepectations around AI products. While share prices for many Chinese tech companies grew recently as investors expecting companies to roll out their own ChatGPT-like bots.
Even so, while Baidu is expected to launch a search chatbot AI in March, and Alibaba is also working on similar software, many companies say they are not close to making these products profitable. As such, they are cooling investor expectations.
Microsoft’s plans for monetizing AI essentially rest on the company folding AI technology into its already popular services, such as Azure, Office, and Word.
Despite tech companies urging caution on the AI market in the country, one company is becoming an AI brand and China’s answer to OpenAI. Meituan co-founder Wang Huiwen wants China to have a share of the emerging AI market.
Huiwen wrote on Monday that he wants to create a company that will essentially be China’s version of OpenAI. He says he will invest $50 million into the new company and take a 25% stake. The remaining 75% will be available for shareholders.
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