Ant Group, the fintech affiliate of Alibaba Group Holding, is reportedly developing language model technology to power ChatGPT-style services. The project, named Zhen Yi, includes a dedicated unit that will deploy in-house research. Ant Group invested almost CNY 20.5bn ($2.8bn) in R&D in 2020, a doubling in annual spending compared to 2019, and is concentrating on tech for distributed databases, computer infrastructure, blockchain, privacy computing, and network security. The move will put Ant Group in competition with search-engine giant Baidu and follows rival Tencent’s launch earlier this year of a similar chatbot technology called Xiaoai. As of the last check on Wednesday, BABA shares traded lower by 0.69% at $87.32 premarket.
Jack Ma’s Ant Group Ventures into ChatGPT-Style Services, Takes on Baidu with AI Investment: Alibaba Group Holding
Date:
Frequently Asked Questions (FAQs) Related to the Above News
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
More like thisRelated
Obama’s Techno-Optimism Shifts as Democrats Navigate Changing Tech Landscape
Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?
Tech Evolution: From Obama’s Optimism to Harris’s Vision
Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?
Tonix Pharmaceuticals TNXP Shares Fall 14.61% After Q2 Earnings Report
Tonix Pharmaceuticals TNXP shares decline 14.61% post-Q2 earnings report. Evaluate investment strategy based on company updates and market dynamics.
The Future of Good Jobs: Why College Degrees are Essential through 2031
Discover the future of good jobs through 2031 and why college degrees are essential. Learn more about job projections and AI's influence.