OpenAI work ChatGPT, which has gained incredible popularity today, has become known worldwide thanks to its many revolutionary features. Of course, this popularity brought competition with it. Things didn’t go well in the presentation part as Chinese tech firm Baidu developed an artificial intelligence called Ernie Bot and raised all of China with an application that rivals ChatGPT. Here are the details of the news…
Baidu lost three billion dollars at the launch of Ernie Bot!
The company’s share price dropped due to the use of previously recorded videos in the presentation made at Baidu Beijing Headquarters yesterday, but not showing any outstanding features. In the launch, which lasted about an hour, the chatbot, which was expected to defeat ChatGPT, did not show what was expected, costing the company $ 3 billion.
Despite the features that ChatGPT offers such as composing music, human-like conversations, writing and editing software, Ernie Bot could not go beyond performing mathematical calculations and rendering images on command. The company’s market value shrank by 10 percent as disappointed investors bought their shares. Also, the presentation was muted when CEO Li admitted during the presentation that the robot was not yet perfect and was released not because it was ready, but because of market demand.
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While the company didn’t comment on the sharp drop in stock price, it noted that traffic in Baidu’s cloud has skyrocketed as more than 30,000 people applied to test the business-oriented version of Ernie Bot. The bot, which is still in closed beta, is under development and this beta version is only available to selected users. As of next week, a beta version will be sent to these users.
After Baidu announced the Ernie Bot, its share value had increased by 15 percent. Although the announcement of ChatGPT as a big competitor from China has a big share in this, such a rivalry does not seem possible at the moment.
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