Baidu's ERNIE Bot fails to impress, shares drop.
TL;DR Summary
Baidu's shares fell nearly 6.4% in Hong Kong after the company revealed its Chinese-language ChatGPT alternative, Ernie bot, during a livestreamed release event. Baidu CEO Robin Li emphasized that the product is not perfect but will improve through user feedback. Baidu is prioritizing initial access for 650 ecosystem business partners, including media companies, banks, and car firms. Microsoft-backed OpenAI also announced GPT-4, the latest version of the artificial intelligence tech behind its highly popular ChatGPT chatbot.
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