China’s Alibaba working on ChatGPT rival; shares jump up

Chinese tech giant Alibaba is making strides to challenge the current industry giant in natural language processing technology, OpenAI's ChatGPT. The news of the company's newly-announced venture sent its shares soaring by more than 2.5 per cent. 

A company spokesperson told CNBC that they’re currently testing the AI internally at the moment. He elaborated that the company has been working on generative AI since 2017. However, there is no concrete timeline for when Alibaba could launch its ChatGPT rival.

Alibaba's move to challenge OpenAI's ChatGPT is likely motivated by the need to be ahead of the curve in the natural language processing (NLP) market. It is no secret that the Chinese company has long been looking to diversify its business. The past few years have seen it making strategic investments in sectors like transportation and health care, and now it looks like NLP could be the next big money maker for the tech giant.

OpenAI's GPT-3, which stands for Generative Pretrained Transformer 3, is a state-of-the-art language model developed by OpenAI. ChatGPT is one of the variants of GPT-3, designed specifically for conversational AI.

ChatGPT uses advanced deep learning techniques such as Transformer networks to generate human-like text based on the input it receives. It has been trained on a massive corpus of text data, which includes diverse topics such as news articles, scientific publications, and social media posts, allowing it to generate a wide range of responses that are relevant and engaging.

One of the key benefits of ChatGPT is its ability to handle context-based conversations. It can maintain a conversation flow and respond in a way that is appropriate for the context, making it a valuable tool for businesses and organizations looking to enhance their customer engagement through conversational AI.

ChatGPT can be integrated into various applications, including customer service chatbots, virtual assistants, and conversational interfaces for websites and mobile applications. The model's advanced language generation capabilities can also be used for other tasks such as content creation, text summarization, and question answering.

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Microsoft is one of the key investors in OpenAI and has recently introduced a new version of Bing and Edge with an advanced version of the AI model that powers ChatGPT. 

Google has also announced its AI chatbot called 'Bard' this week. Baidu’s AI chatbot called 'Ernie' in English or 'Wenxin Yiyan' in Chinese has also been announced.

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