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Alibaba (BABA) boosts generative AI efforts with Tongyi Qianwen

alibaba BABA plans to make its artificial intelligence (AI) model, Tongyi Qianwen, available to the public after receiving Chinese regulatory approval.

In particular, Tongyi Qianwen is a large language model (LLM), which is similar to Microsoft MSFT supported OpenAI’s ChatGPT.

The Chinese e-commerce giant has integrated Tongyi Qianwen into all of its business applications, including workplace communication app, DingTalk, and smart speaker, Tmall Genie.

Additionally, an open-source version of the larger language model can be made available for free commercial use by the society.

Reportedly, Alibaba has already begun to receive deals from companies such as Oppo, Taobao, DingTalk and Zhejiang University, which are looking to train and develop their own LLMs based on Tongyi Qianwen.

Alibaba Group Holding Ltd Price and Consensus

Alibaba Group Holding Ltd Price and Consensus

Alibaba Group Holding Ltd price-consensus-chart | Alibaba Group Holding Limited Quote

Generative AI delivers on promise

We note that the latest move is in line with BABA’s efforts to boost generic AI efforts.

In addition to Tongyi Qianwen’s plans, the company recently launched its latest AI image generation model, Tongyi Wanxiang, offering detailed images in a variety of styles, including watercolor, oil painting, animation, sketch, flat illustration, and 3D cartoon. and converts images. New to using style transfer.

We believe these efforts are likely to strengthen Alibaba’s presence in the rapidly growing generative AI field.

According to a Fortune Business Insights report, the global generic AI market size is expected to reach $43.87 billion in 2023 and $667.96 billion by 2030, witnessing a CAGR of 47.5% between 2023 and 2030.

Grand View Research reports that the global Generator AI market will witness a CAGR of 35.6% during the forecast period 2023-2030. Alibaba’s growing prospects in this promising market are expected to help it win investor confidence in the near term.

Alibaba lost 0.1% in the year-on-year period, slower than the industry’s growth of 46.4%.

Notably, macroeconomic uncertainties have been a major concern for the company over the past few quarters.

intense competition

We note that the latest move will allow this Zacks Rank #1 (Strong Buy) company to compete well with some notable industry players such as Microsoft. Amazon AMZN and Alphabet GOOGL, which is also making concerted efforts to expand its generative AI efforts. you can see The full list of today’s Zacks #1 Rank stocks here.

Microsoft, which took the world by storm with ChatGPT, is integrating OpenAI’s next generation LLM – GPT-4 – into its search engine Bing and browser Edge.

Additionally, Microsoft Azure offers the Azure OpenAI service, which enables seamless application of large language models (LLM) and generative AI techniques across a variety of use cases.

Meanwhile, Amazon is riding on its AI-powered solution, Amazon Bedrock, designed to accelerate the deployment of generative AI-supported foundation models (FM). Additionally, Bedrock ChatGPT provides access to rival Amazon Titan’s FM.

Additionally, the recent launch of the AWS Generative AI Innovation Center program, which helps connect customers around the world with AWS’s AI and machine learning (ML) experts to help them seamlessly build and deploy generative AI solutions remains remarkable. Amazon also introduced Generative AI for small businesses, helping sellers write product descriptions, titles, and listing details, increasing the speed and ease of product listings.

Alphabet’s Google is also enjoying the growing momentum of its chatbot, Bard.

The search giant recently launched consulting services to boost generative AI efforts. The new offerings include advice and tools through which Google Cloud seeks to help customers adopt generative AI technologies.

GOOGL is also set to release its conversational AI software Gemini, which includes comprehensive language models that provide chatbot customization, text summarization, content creation, email drafts, music songs, and news articles, enabling users to create personalized content. Are there.

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Source: finance.yahoo.com

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