The World Artificial Intelligence Conference will be held in Shanghai in July 2023.
Song Ali|Reuters
Alibaba The Chinese tech giant announced on Tuesday that it would cut the price of its large language models by up to 85%.
Alibaba Cloud, the cloud computing arm of the Hangzhou-based e-commerce company, said in a WeChat post that it is offering reduced prices for its visual language model Qwen-VL, which is designed to perceive and understand text and images.
After the news was announced, Alibaba’s share price did not change much, closing up 0.5% on the last trading day of this year in Hong Kong.
Still, the price cuts show that competition among China’s tech giants is intensifying to win more business for emerging artificial intelligence products.
Major Chinese tech companies including Alibaba Tencent, Baidu, JingdongOver the past 18 months, Huawei and TikTok parent company ByteDance have both launched large-scale language models of their own, hoping to capitalize on the hype surrounding the technology.
This is not the first time Alibaba has announced price cuts to incentivize companies to use its artificial intelligence products. February, company Announced price cuts of up to 55% Broad range of core cloud products. Most recently, in May, the company lowered the price of its Qwen AI model Up to 97% to stimulate demand.
A large language model (LLM for short) is an artificial intelligence model that, after training with a large amount of data, can produce human-like responses to user queries and prompts. They are the cornerstone of today’s generative artificial intelligence systems, such as ChatGPT, the popular artificial intelligence chatbot from Microsoft-backed startup OpenAI.
Alibaba, for its part, is focusing its LL.M. work on the enterprise space rather than launching consumer AI chatbots like OpenAI’s ChatGPT. In May, the company said its Qwen model had been deployed by more than 90,000 enterprise users.
