The Hong Kong-listed shares had their best day since March, jumping 15% after the company said it was naming the service “Wenxin Yiyan,” or “Ernie Bot” in English. Baidu’s American depositary receipts jumped 12% at the New York open to the highest since March 2022. Baidu should complete internal testing in time for next month’s launch, it said in a statement.News of Baidu’s foray into the red-hot generative AI arena has fired up Chinese AI-related stocks from Beijing Deep Glint Technology Co.
Baidu has spent billions of dollars researching AI in a years-long effort to transition from online marketing to deeper technology. Its Ernie system — a large-scale machine-learning model that’s been trained on data over several years — will be the foundation of its upcoming ChatGPT-like tool.AI is a rare bright spot in a contracting, job-cutting tech industry.
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Business Maverick: ChatGPT will replace some jobs, but traders say not theirsAdvanced artificial intelligence systems stand to threaten jobs primarily in the financial, legal and technology sectors, according to the latest MLIV Pulse survey.
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