Ernie appears to share many of the same capabilities as OpenAI's ChatGPT, but investors were left disappointed after its grand unveiling was limited to recorded videos rather than any live demonstrations.
But the demonstration failed to move investors, as everything was shown in pre-recorded videos rather than live.Hundreds of companies have signed up to use the tech, however, which Baidu says could be used to power smart devices and driverless cars.
Shares tumbled as much as 10% during the presentation. While they had recovered slightly by the end, it still shaved $3bn off the company's market valuation. Analyst Kai Wang said:"It seems like the presentation was more of a monologue and scripted, rather than an interactive session that people were looking for.Please use Chrome browser for a more accessible video playerBaidu boss Mr Li appeared to compliment OpenAI's tech during his presentation, saying it showed the threshold was high for companies looking to succeed in the space.
His speech was live-streamed across a number of platforms, including some that are blocked in China itself, like YouTube and Twitter.The presentation came days after OpenAI announced the, which has attracted hundreds of millions of users since launching in late 2022. Microsoft is also hosting an AI event on Thursday, while Google this week said it would be bringing generative AI to workplace apps like Gmail and Docs.
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