On Monday, a leading Chinese business launched its rival to OpenAI’s ground-breaking ChatGPT. Despite the country’s state-run media’s warnings of a potential “AI bubble,” the creators proceeded with the release successfully.
According to the Bloomberg report, SenseTime Group CEO Xu Li unveiled SenseChat on Monday. The company had an interactive AI tell a tale about a cat and respond to a series of questions. Later on, they asked the AI assistant to create code, which was a success.
SenseChat is the latest of many generative AIs to be released to the public. After ChatGPT broke open the tech field, SenceChat followed its steps. Generative AIs are bots that aim to create new things by consulting their existing body of data.
China demanding regulations to avoid the ‘AI Bubble’
ChatGPT shocked many of its users when it was released last year. The AI system presented the capability to hold a reasonable conversation and effectively produce things like poems and movie scripts with just a simple prompt.
However, ChatGPT frequently struggles to offer factually accurate replies, which is a shortcoming of AI technology. The AI will frequently fall back on making up information out of thin air to fill up its content.
Chinese state media has also raised concerns about a possible “AI bubble,” claiming that money invested in AIs like ChatGPT may be profiting from “over hype.”
The state-run newspaper Economic Daily stated: “Capital is following the ChatGPT concept, but it needs to be careful to avoid running into a bubble.”
According to the South China Morning Post, “Regulators should enhance monitoring and crackdowns of behaviors aimed at hyping up popular concepts and manipulating stock prices, and create an orderly market with standards for information disclosure, to support the long-term development of AI.”