%20(1).png)
Baidu, the Chinese search engine, announced on Wednesday that it will establish a CNY 1 billion (approximately Rs. 1,200 crore) venture capital fund to support start-ups focusing on content created by artificial intelligence technologies.
The business will also hold a competition for developers to create apps based on its ERNIE large language model (LLM) or integrate it into their existing products.
Following the meteoric popularity of ChatGPT, the AI-powered chatbot published by Microsoft-backed OpenAI, Chinese tech firms have rushed to build their own LLMs.
According to a research released this week, about 80 Chinese firms have launched their own LLMs since 2020, with releases this year marginally outperforming those in the United States.
Baidu debuted Ernie Bot, its own AI-powered LLM, in March. Alibaba Group Holding was among the numerous Chinese corporations that rapidly followed.
In response to the influx of LLMs, China announced preliminary laws on the use of generative AI in April.