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Baidu stock rises after ChatGPT-style AI bot announcement

Baidu stock rises after ChatGPT-style AI bot announcement

Following the announcement that it will be launching its own ChatGPT-like service, the Chinese search engine giant Baidu's stock price jumped on Tuesday.

A spokesperson for the company stated that their artificial intelligence chatbot, known as "Wenxin Yiyan" in Chinese or "ERNIE Bot" in English, will debut in March and that the product is now undergoing internal testing. According to the source, ERNIE, also known as "Enhanced Representation through Knowledge Integration," is based on a language model that Baidu first created in 2019.  The ERNIE project has developed since then, enabling users to compose essays and poetry or use text prompts to produce graphics automatically, said the spokeswoman. It is now in the third revision.

Large-scale internet data sets are used to train language models in order to produce persuasive user rapid responses. According to a spokesperson for Baidu, researchers are "continuously working" to improve the technology so it can learn various activities like people do.

The business did not specify the tool's appearance or whether it would be an element of its well-known search engine. Following the news, shares of Baidu, which are listed in Hong Kong, increased by 16%. According to Daniel Ives, managing director of Wedbush Securities, the company's expenditures in artificial intelligence might be considered as both an aggressive and defensive strategic move in China.


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