Alibaba unveils new ChatGPT-like service to be integrated across all its products
Apr. 11, 2023 1:04 AM ETAlibaba Group Holding Limited (BABA), BABAFBIDU, JDBy: Meghavi Singh, SA News Editor4 Comments
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- Joining the flurry of tech companies jumping on the chatbot hype, the Chinese tech giant Alibaba (NYSE:BABA) revealed that Alibaba Cloud, the cloud computing unit of Chinese tech giant will be rolling out its own ChatGPT-style product Tongyi Qianwent, at Tuesday’s summit.
- The move is in line with its announcement made earlier this month.
- Tongyi Qianwen will have Chinese and English language capabilities, the tech giant said at the 2023 Alibaba Cloud Summit. However, it did not reveal a timeline.
- “We are at a technological watershed moment driven by generative AI and cloud computing, and businesses across all sectors have started to embrace intelligence transformation to stay ahead of the game,” said Daniel Zhang, chairman and CEO of Alibaba Group and CEO of Alibaba Cloud Intelligence.
- Several other Chinese tech companies have launched or announced plans for their own AI-powered chatbots, including Baidu (BIDU) and JD.com (JD).
- Alibaba’s (BABA) Hong Kong-listed shares rose further following the announcement and traded 3.12% higher. Shares of rival Baidu (BIDU) were down more than 4%.
- Earlier on Monday, Baidu (BIDU) shares fell more than 4%, as the Chinese Internet search giant was bruised again in the wake of its recent stumbles in the artificial intelligence market.
- Late last month, Alibaba (BABA) announced plans to split into six individual units, with all of the units pursuing financing options, including initial public offerings.
- Dig into Alibaba (BABA) fourth-quarter results that showed cloud revenues rose 3% year-over-year.
- In February, it was reported that Alibaba (BABA) was testing an artificial intelligence dialogue tool similar to ChatGPT with its employees.