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Chinese search giant Baidu will set up a venture capital fund of CNY 1 billion to back start-ups focused on content generated by artificial intelligence applications, it said on Wednesday.
The company will also launch a competition for developers to
build applications off its ERNIE large language model (LLM) or integrate the
model into their existing products, it added.
Chinese tech companies have raced to release their own LLMs
following the dramatic success of ChatGPT, the AI-powered chatbot released by
Microsft-backed OpenAI.
Almost 80 organisations in China have launched their own
LLMs since 2020, with releases this year slightly exceeding those of the United
States, a report showed this week.
In March, Baidu unveiled Ernie Bot, its own AI-powered LLM.
E-commerce giant Alibaba Group Holding was among the other Chinese companies
that followed quickly.
In response to the surge of LLMs, China published draft
regulations in April on the use of generative AI.
© Reuters
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