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
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