Baidu's Ernie AI chatbot struggles to impress investors.

Baidu, China's search engine giant, introduced its Ernie Bot, a chatbot that is considered the closest Chinese candidate to build an equivalent to the OpenAI chatbot. However, the launch was underwhelming as Baidu opted for a lengthy presentation with pre-recordings of Ernie's answers instead of a live demo. Ernie is only available for testing through invitation and others need to get on a waitlist. The company's shares slumped as much as 10% in Hong Kong following the presentation.