Tencent Holdings Ltd has announced its plans to launch a proprietary artificial intelligence (AI) model later this year, in a bid to compete with industry leaders such as Baidu Inc and SenseTime Group Inc. The internet giant’s executives revealed during a financial results report that the development of a large language model called Hunyuan, which will power generative AI and other applications, is progressing well. Tencent has been regarded as lagging behind some of its domestic rivals due to its limited disclosure of its AI efforts. However, the company has been testing Hunyuan on services like cloud computing and search, and it believes the model will be one of the top foundation models in China.
Talking about Tencent’s AI experimentation, company President Martin Lau said that the company’s AI applications go beyond the typical chatbots commonly associated with AI. Tencent is internally testing AI for gaming, cloud computing, and financial technology, and also expects to use the technology to enhance its advertising and marketing efforts. Lau emphasized that AI is seen as a growth driver for Tencent’s business and the company’s focus extends beyond chatbots and Q&A experiences.
On the cloud computing front, Tencent is preparing to launch a marketplace for business clients where they can access and select generative AI-powered services. This move is expected to contribute to the company’s high-margin profits. The company’s executives expressed optimism regarding the potential of AI to boost its various business sectors.
Overall, Tencent’s foray into AI signifies its intention to compete with the current leaders in the industry. The company believes that Hunyuan, its upcoming AI model, will be among the best in China. With ongoing development and iteration, Tencent plans to launch the model later this year. This move aligns with Tencent’s broader vision of utilizing AI technology across different domains and exploiting its potential as a growth multiplier. Through AI experimentation and application in gaming, cloud computing, and financial technology, Tencent aims to reinforce its position in the market and tap into new revenue streams.
Credit: The Star : Tech Feed
