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Stock impact report

Bot and Ernie: Everything You Need to Know About China's ChatGPT Equivalent [CNET News]

TENCENT HLDGS UNSP/ADR (TCEHY) 
NASDAQ:AMEX Investor Relations: tencent.com/en-us/investor.html
Company Research Source: CNET News
At a developer conference in Shenzhen, China, this week, tech company Baidu announced its Ernie chatbot has amassed 200 million users in eight months. While this is a fraction of China's population, Nicole Greene, a VP analyst at research firm Gartner, noted Ernie fills a market gap due to government restrictions. While US consumers have had access to generative AI since November 2022 , tools like ChatGPT Gemini and Copilot aren't available in China. As a result, homegrown tech companies like Baidu are eager to capitalize on the opportunity to serve an unmet need -- and, like US companies, they are eager to tout advancements. Jason Alan Snyder, global CTO of Momentum Worldwide, called Ernie "a major milestone in Chinese AI development … [which] demonstrates the country's commitment to rivaling Western tech giants in the generative AI race." If this is the first you've heard of Ernie, this explainer is for you. Here's everything you need to know about the Chinese AI tool. Wh Show less Read more
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