By
Mayowa Adebajo
April 29th, 2024
Tencent’s announcement closely follows a host of AI-powered applications revealed by Baidu, another tech giant in China.
Chinese tech giant Tencent Holdings Ltd (HKG: 0700) is set to launch its cutting-edge AI model, “Hunyuan”, for business applications. This announcement was made by Dowson Tong, CEO of the cloud and smart industries group at Tencent, in an exclusive interview with CNBC ahead of the company’s annual summit.
The unveiling of Hunyuan comes at a time when Artificial Intelligence (AI) technology is making significant strides in various sectors, and Chinese tech companies are intensifying their efforts in this domain.
The Significance of Tencent’s AI Model
Tencent’s Hunyuan AI model is expected to be a game-changer in the world of AI-powered solutions. The company has revealed that it has been conducting internal testing of the AI model in the fields of advertising and fintech. This suggests that Hunyuan could be tailored to provide innovative solutions in these sectors, streamlining processes and enhancing efficiency.
Tencent’s venture into AI has advanced significantly with the integration of Hunyuan, with its existing video conferencing and social media offerings. This strategic initiative, announced by Tong cements the company’s commitment to leveraging AI’s revolutionary capabilities throughout its varied range of services.
Specifically, Tencent plans to incorporate Hunyuan’s capabilities into WeChat, its widely used messaging and payments app, and Tencent Meeting, its video conferencing platform. In addition to the Hunyuan AI model, Tencent also plans to launch an AI chatbot. An AI chatbot from Tencent could potentially revolutionize customer service and communication across various industries.
Tong highlighted the importance of tailoring AI models to specific business needs. In his view, industry-specific training is the key to unlocking the full potential of AI technology, and he identified several sectors, including tourism, finance, public services, and customer service, where this approach can drive significant benefits.
The Rise of AI in China
China has emerged as a global leader in AI research and development in recent years. Companies like Tencent, Baidu, and Alibaba Group Holding Ltd (HKG: 9988) have been at the forefront of this technological revolution.
Tencent’s announcement closely follows a host of AI-powered applications revealed by Baidu, another tech giant in China. This competitive spirit between industry leaders is driving rapid innovation in AI technology in the country.
Baidu’s Ernie bot stands out among the emerging AI chatbots in China due to its ability to convert text into images and video with the assistance of plugins. This feature has the potential to revolutionize content creation and dissemination, making it a valuable tool for businesses and content creators.
Furthermore, the announcement comes in the wake of more supportive regulations for AI development in China, which have encouraged companies to push the boundaries of what AI can achieve. These regulations, which came into effect on August 15, seek to establish a framework for responsible AI development and usage. It is also designed to prevent the spread of false information and ensure the quality of AI-driven services.
Notably, these regulations were initially more stringent, suggesting that it would apply even at the research stage. However, the final version is more lenient, focusing on AI products available to the mass public.