Baidu venture capital fund to help generative AI developers
Chinese tech giant Baidu has launched its US$145 billion venture capital fund. It is focused on funding projects that are developing in the field of AI. The company is also looking for specialists to build applications using its Ernie AI model. It is also considering integrating the technology into existing products.
The success of US start-up OpenAI’s ChatGPT chatbot has encouraged companies to develop their own conversational AI. Chinese developers have also been active in introducing their products. According to the data, around 80 companies in the country have launched their AI models since 2020. By 2023, the number of such Chinese products surpassed the US figures.
Baidu Ernie Bot AI
In March, Baidu unveiled its Ernie Bot AI, which had been developing for 10 years. The first generation of AI was released in 2019, and this time the bot’s functionality has been significantly improved. According to Baidu, the updated chatbot is only slightly inferior to OpenAI’s language model. Ernie Bot knows and can use 550 billion facts, mostly related to China. For example, the bot can talk about local idioms, traditions and the country’s history, but it cannot provide information on most issues related to the characteristics of other nations.
However, Baidu’s AI can give answers in audio format, recorded in different Chinese dialects, which is not yet available in other models. Ernie Bot can also interpret the text as an image or video. According to the developer, 650 local companies have signed up to use Ernie’s technology. However, Baidu representatives point out that the bot is not ready for public use yet. The early unveiling of AI was in response to growing market demand for such technology. For now, only those companies to which Baidu has sent an invitation are testing the model. However, other organisations can apply, and the developer will provide access to the products through its cloud platform.
The establishment of a fund focused on generative AI also responds to trends in a world where these technologies are becoming increasingly sought after. Meanwhile, Chinese authorities are also responding to progress, with regulations on the use of AI products issued in April this year.
The government is also trying to restrict the use of ChatGPT by technology companies, including Tencent and Ant. The move is expected as authorities fear information leaks from the country and want to control information coming out of China to open sources.
