“New AI Craze Sparked by ChatGPT: Impact on Tech Firms and Winners in the Industry”
Artificial Intelligence-generated content (AIGC) is rapidly gaining traction with the latest chatbot, ChatGPT, developed by US-based AI research company OpenAI, making waves in the industry. The advanced conversational capabilities of ChatGPT have drawn attention to the potential of AI in creating human-like responses for various tasks, such as writing essays, scripts, business proposals, and even bug checking. This has driven up shares of AI companies in the A-share market, with Cloudwalk Technology and Speechocean seeing a surge of 20% on Monday.
Baidu Inc, the Chinese tech giant, announced that it will complete internal testing of its own AI chatbot service, “Ernie Bot,” in March. Baidu has invested heavily in the development of the Ernie system, which is trained on large amounts of data and has in-depth semantic comprehension and generation abilities.
Other Chinese tech companies are also making strides in the AIGC field. Byte-Dance has launched Jianying, an AI-powered short-video editing app, and Net-Ease has released its AI music creation platform, Tianyin.
According to Pan Helin, co-director of the Digital Economy and Financial Innovation Research Center at Zhejiang University’s International Business School, ChatGPT is a milestone in AIGC-related technologies, using reinforcement learning from human feedback to train its data model and enhance natural language processing capabilities. He suggests that Chinese enterprises should increase their efforts to develop indigenous versions of the AI-powered chatbot and invest in related algorithms and computing power.
While China has made great progress in developing the AI industry, with more than half the world’s AI patent applications filed in 2021, Chinese tech companies still lag behind top foreign competitors in terms of fundamental R&D and comprehensive innovation abilities, says independent strategy analyst Chen Jia. Despite this, Chen believes that Chinese tech enterprises have a unique advantage in expanding AI applications globally.
However, the use of AIGC technologies raises concerns about ethics, copyright protection, and privacy, says Guo Tao, deputy head of the China Electronic Commerce Expert Service Center. He notes that AIGC is still in the initial stages of development and that the application scenarios and related laws and regulations are far from mature.
Microsoft has unveiled a major overhaul of its Bing search engine and Edge web browser, powered by artificial intelligence (AI). The move comes weeks after the company confirmed its plans to invest billions in OpenAI, the firm behind ChatGPT. During a press event at its Redmond, Washington headquarters, Microsoft stated that the upgraded Bing will not only display a list of search results, but will also be able to answer questions, chat with users, and generate content in response to queries.
This comes as the popularity of ChatGPT has sparked a surge of interest in AI chatbot tools. Many tech companies are now competing to launch similar tools that could change the way we write emails, essays, and search for information online. The day before the event, Google announced its own plans to launch a ChatGPT-like AI tool in the near future.
In partnership with OpenAI, Bing will run on a more advanced large language model compared to the one used by ChatGPT. These models are trained using vast amounts of online data to generate responses to user prompts and queries. Microsoft CEO, Satya Nadella, stated that “It’s a new paradigm for search, rapid innovation is going to come.” and added that “In fact, a race starts today.”
Microsoft also highlighted that the updated tools are expected to boost its digital advertising business by attracting more users to its online search tools and increasing demand for advertisements on its platform.
Microsoft and OpenAI are set to launch the updated version of Bing on Tuesday, with limited queries available for the general public and unlimited access for a small group of users. The company stated that the full access will be rolled out to millions of users in the upcoming weeks and they also have plans to integrate the tools into other web browsers in the future.
Sam Altman, CEO and co-founder of OpenAI, expressed that the company’s aim is to make the benefits of AI accessible to as many people as possible and that is why they have partnered with Microsoft. Microsoft, who invested in OpenAI early on, announced last month that they plan to expand their partnership with the company in order to incorporate more artificial intelligence into their products. In a recent blog post, OpenAI stated that the multi-year investment will be used to develop AI that is safe, useful and powerful.
Microsoft CEO, Satya Nadella, stated that this technology is expected to shape almost every software category.
Microsoft’s Bing search engine is set to shake up the market with the integration of its cutting-edge ChatGPT tool and algorithms into its platform, according to Wedbush analyst Dan Ives. Despite only holding a 9% share of the search market, Ives predicts that this move could result in significant gains for Bing and losses for Google in the future. This announcement was made in a recent investor note ahead of a major event.
Microsoft has introduced a new version of Bing, the search engine that offers users the ability to chat with the tool to get additional information on search results. The new Bing will provide references for the sources of information and links to the original source, making it easier for users to verify the information.
The Bing capabilities are now built into the updated Microsoft Edge browser, allowing users to chat with the tool while browsing the web. This new feature acts as a “co-pilot” to help users navigate the web and even draft posts on Microsoft-owned LinkedIn. The AI technology behind ChatGPT has been the subject of much speculation, with some suggesting that it could cause a significant shake-up in the online search industry.
Google’s management has declared a “code red” situation for its search business, following the immense attention on the viral success of ChatGPT in recent weeks. The company has now unveiled a new chatbot tool called “Bard” in an effort to compete with ChatGPT.
In a blog post, Sundar Pichai, CEO of Google and parent company Alphabet, announced that Bard will be made available to “trusted testers” starting Monday, with plans to release it to the public in the near future.
According to Pichai, Bard aims to bring together the world’s knowledge and the power, intelligence, and creativity of Google’s language models. The chatbot tool will use information from the web to provide fresh, high-quality responses.
Google’s move to develop Bard highlights the company’s focus on staying ahead in the chatbot industry, as the technology continues to gain popularity among consumers.
As artificial intelligence tools, such as ChatGPT, continue to gain popularity among tech companies and users, concerns about their potential for perpetuating biases and spreading false information have been raised. In response, Microsoft executives have acknowledged the limitations of their new AI tool.
Mehdi, a Microsoft executive, stated, “We know that we won’t be able to answer every question correctly all the time and that we will make mistakes. To address this, we have added a feedback button at the top of every search, so users can give us feedback and we can continuously improve.”
The tool is trained in part through sample conversations that mimic malicious actors who might attempt to exploit the technology. Sarah Bird, the responsible AI lead at Microsoft, commented, “With such a powerful technology, we have a greater responsibility to ensure that it is developed, deployed, and used in an ethical and responsible manner.”
edited and proofread by nikita sharma