Ant Group, the fintech affiliate of Chinese conglomerate Alibaba Group, has received approval from the Chinese government to offer artificial intelligence or AI products to the public, reports said.
The company plans to roll out multiple products built on its own Bailing large language model or LLM, a deep learning algorithm that can perform a variety of natural language processing tasks.
As per reports, Bailing will also be used across the company’s various operations with a view to developing more innovative AI products.
In China, companies are required to submit security assessments and receive clearance before releasing AI products to the public.
Ant’s Vice President Xu Peng, who oversees Bailing, reportedly said the company expects to release more AI applications to the public based on its development of innovative products across vertical industries.
In September, Ant unveiled a finance-specific AI model and started testing consumer and professional apps for the products. The company launched its own LLM and a new Web3 brand.
LLM, the technology used to train chatbots like ChatGPT, Google’s PaLM in Bard, and Meta’s LLaMa, are deep-learning algorithms that can recognize, summarize, and generate content using very large data sets.
The recently emerged generative AI technologies can generate novel, human-like output rather than merely describe or interpret existing information and have approachable interfaces to understand and respond with natural language, images, audio, and video.
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