Alibaba Group Holdings made significant announcement regarding their new AI products at the World Artificial Intelligence Conference in Shanghai on Friday, as the Chinese tech giant strive to establish its position in the global race for AI.
Alibaba Cloud, an Alibaba subsidiary, introduced an artificial intelligence (AI) image generator. The AI image generator named Tongyi Wanxiang will be initially available to enterprise customers in beta form, and will compete with U.S.-based competitors, OpenAI’s DALL-E and Midjourney Inc’s Midjourney.
Alibaba Cloud, a recently restructured division of Alibaba Group Holdings, introduced its own text-generator tool named Tongyi Qianwen, similar to ChatGPT. The launch of this ChatGPT-like AI tool was released in April.
Chinese tech giants are shifting their focus to AI based products and services following the success of AI-powered text-based language model, ChatGPT. “Generative AI has potential to add $7.3 trillion in value to the world economy each year”, According to McKinsey.
In addition to the launch of Tongyi Wanxiang image generator, which roughly translates as “truth from tens of thousands of pictures”, Alibaba Cloud has also rolled out ModelScopeGPT, an AI tool for developers. With the introduction of these AI-base tools Alibaba Cloud aims to build its own range of AI-powered tools.
With its latest innovations, Alibaba is joining the global AI race and is making substantial contributions to the ever-changing AI space. These advancements will drive a positive impact on the future of technology and industries worldwide.