ChatGPT has become popular in the tech world and is expected to drive rapid growth in natural language processing (NLP) technologies in China. This exciting development has highlighted the need for Chinese companies to work together in order to make more home-grown breakthroughs, according to Beijing Fanyu Technology Co Ltd chairman Zhou Yu.
Zhou explained that, despite starting late on the NLP scene, China has managed to catch up to leading economies in the space. She said that while the US is more adept at creating AI-driven innovations, innovative products tailored to specific niches are more prevalent in China. NLP is a technology necessary to power AI applications like ChatGPT, which has surged in popularity in recent times.
Looking to the future, Zhou believes that China’s NLP market will continue to develop and lead globally. She further explained that there are still a few barriers that need to be addressed in order to drive further growth, such as a lack of data resources and the ability to freely move data.
Fanyu Technology, founded in 2018 and backed by the Institute of Automation of the Chinese Academy of Sciences, works with over 100 clients and has helped promote multiple major projects. Through their NLP products and services, the company has worked with big names such as Boeing, pushing them towards a more digital-oriented future.
Zhou Yu is an experienced executive in the field and has been with Fanyu Technology since its inception. She has been an active proponent of Chinese participation in NLP and has publicly spoken out about how Chinese companies must focus on smaller models and personalized products, rather than trying to compete with larger models. She claims that this is the most reliable way to both save money and succeed in the industry in the long run.
