Baidu, a Chinese search giant, announced on Wednesday that it will establish a $145 million (1 billion yuan) venture capital fund to support start-ups that specialize in content produced by AI technologies.
The business also announced that it would hold a contest for programmers to create software based on the ERNIE large language model (LLM) or incorporate the model into already existing products. In response to ChatGPT, the AI-powered chatbot released by Microsoft-backed OpenAI, Chinese tech companies have hurried to build their own LLMs.
According to research released last week, about 80 Chinese organizations have introduced their own LLMs since 2020, with this year’s launches marginally outpacing those in the US.
Ernie Bot, Baidu’s own AI-driven LLM, debuted in March. Among the other Chinese businesses that rapidly followed was the world’s largest e-commerce company, Alibaba Group to launch generative AI tech Tongyi Qianwen. China announced drafted restrictions on the use of generative AI in April in response to the rise in LLMs.
A comprehensive new drafting regulation by China’s internet regulator revealed that future AI products developed in the country will now be subject to a security review before publication and must follow “core socialist values.”