China's tech giants join ChatGPT development

China's biggest tech companies are rushing to develop their own versions of ChatGPT, the AI-powered chatbot that has set the US tech world buzzing, despite questions over the capabilities and commercial prospects of the technology.

Alibaba Group Holding, Tencent Holdings, Baidu, NetEase and JD.com all unveiled plans this week to test and launch their own ChatGPT-like services in the near future, eager to show the results of their AI research efforts are just as ready for prime time as those of their US counterparts, Caliber.Az reports, citing Nikkei Asia.

Microsoft-backed ChatGPT prompted the chase after becoming recognized as the fastest-growing consumer app in history since its launch in November. The chatbot can generate articles, essays, jokes, even poetry in response to prompts. Google recently announced a similar service, Bard AI, though a rocky demonstration of the technology sent shares in parent company Alphabet sharply lower on February 8.

Competition in AI-related technology also has geopolitical overtones -- it is one of the most hotly contested fields in the US-China tech rivalry.

Shares of Baidu surged to an 11-month high after the search giant on Monday revealed its plan to launch the ChatGPT-style "Ernie Bot," which is built on tech the company said has been in development since 2019. The company aims to complete internal testing in March before making the chatbot available to the public.

Following Baidu's announcement, Alibaba said it is internally testing a ChatGPT-style tool, without revealing more details. The e-commerce conglomerate's shares recently closed up 3.96 per cent in Hong Kong.