(JW Insights) Feb 7 -- Chinese tech companies are upping the ante in the fast-growing artificial intelligence-generated content (AIGC) sector, as ChatGPT has gained wide popularity since its debut in November, reported China Daily.
Leveraging machine learning algorithms, ChatGPT is able to mimic humanlike responses with AI-generated content and assist people with tasks such as writing essays and scripts, making business proposals, and even checking program bugs, which it does within seconds.
AIGC-related stocks continued to rally in the A-share market, with Chinese AI companies, such as Cloudwalk Technology and Speechocean, seeing their shares surge by the daily limit of 20 percent on the science and technology innovation board on Monday.
Chinese tech heavyweight Baidu announced on Tuesday that it will complete internal testing of its AI chatbot service similar to OpenAI's ChatGPT, called "Ernie Bot," in March.
The Beijing-based company has invested large sums of money in developing its Ernie system, a large-scale machine-learning model that has been trained on massive data over several years and possesses in-depth semantic comprehension and generation capabilities, said the China Daily report.
Jianying, an AI-powered short-video editing app launched by Chinese tech company Byte-Dance, allows users to generate creative videos by simply putting in a few keywords or a paragraph of text.
Online gaming company Net-Ease has released its AI music creation platform Tianyin, where users can customize a song by entering lyrics, reported China Daily.
Chen Jia, an independent strategy analyst, said, "Chinese tech enterprises have unique advantages in expanding AI application scenarios globally."
China has made significant progress in developing the AI industry. A Stanford University report showed that China filed more than half the world's AI patent applications in 2021 and continued to lead the world in the number of AI journals, conference papers, and related publications, according to the China Daily report.