HomeWinBuzzer NewsChinese Tech Companies Urge Investors to Lower AI Expectations amid ChatGPT Rise

Chinese Tech Companies Urge Investors to Lower AI Expectations amid ChatGPT Rise

As China joins the AI race, tech companies are warning investors to cool expectations despite OpenAI’s success with ChatGPT.

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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 scrambling, sending off a code red at the search giant and prompting it to rush-launch its Bard chatbot. However, in , 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 -like bots.

Even so, while 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.

China's OpenAI

Despite tech companies urging caution on the AI market in the country, one company is becoming an AI brand and China's answer to . 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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SourceBloomberg
Luke Jones
Luke Jones
Luke has been writing about all things tech for more than five years. He is following Microsoft closely to bring you the latest news about Windows, Office, Azure, Skype, HoloLens and all the rest of their products.

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