China's ChatGPT! Tencent to launch its AI chatbot ‘Hunyuan’, aims AI dominance & rival OpenAI

With the release of ground-breaking plans and generative models aimed at competing with western competitors, Chinese technology companies are taking big steps in the competitive artificial intelligence scene. Shenzhen-based tech giant, Tencent, a major player in social media and gaming, has revealed Hunyuan, a new unique AI model that will be introduced later this year.

According to the corporation, Hunyuan will become one of China's top-performing models. Tencent has been aggressively testing Hunyuan across a variety of industries, including gaming, advertising, cloud computing, and financial technology, while up until recently keeping its AI initiatives relatively under wraps.

China's bid for AI supremacy

In an effort to compete with recently released models like Meta's Llama 2 and OpenAI's ChatGPT 3.5, a significant participant in the e-commerce space has announced two open-source AI models, Qwen-7B and Qwen-7B-Chat. These models are a part of Alibaba Cloud's effort to support the AI community and are accessible to academics and developers anywhere for free. However, companies with more than 100 million active users will need to obtain a licence.

China's struggle for AI dominance worldwide

China's intentions to dominate the AI field are becoming more and more clear, indicating its will to outperform the United States in this area. Chinese tech firms are developing sophisticated, controllable AI models that can compete with their western equivalents like Google, OpenAI, and Meta with the support of the government.

Two other significant organisations, Tencent and Huawei, are investing heavily in the creation of proprietary generative AI. The leaders of Tencent have suggested that they are looking into applications in the fields of gaming, advertising, cloud computing, and financial technology.

Impact on the economy & tensions across the world

By 2030, experts predict that AI will have an overall economic effect of nearly $15 trillion, and Tencent views AI as a growth multiplier. A fresh wave of AI innovation and investment is apparent, as it is stated that Chinese companies are investing extensively in AI, including sizable GPU acquisitions from Nvidia.

While Chinese businesses like Alibaba and Tencent are developing, the United States still has an advantage in the field of artificial intelligence. Meta's Llama 2, which features a whopping 70 billion parameters, surpasses even the models that Alibaba has on display.

With the Biden administration placing limitations on the sale of cutting-edge AI chips to China, the struggle between China and the United States has now spread to AI. The AI competition is anticipated to heat up even further as Chinese tech titans like Tencent and Alibaba show their dedication.

In the dynamic landscape of AI, China's tech giants are not just catching up; they are determined to lead as they contribute to the global AI narrative with their innovative models and ambitious endeavours.