Alibaba is cutting prices for its major voice models by as much as 85%, the Chinese tech giant announced Tuesday.
The cloud computing division of Hangzhou-based e-commerce company Alibaba Cloud said in a WeChat post that it’s offering discounts for its Qwen-VL visual language model, which is designed to perceive and understand each text and pictures .
Alibaba shares were little moved after the announcement, closing 0.5% higher on the ultimate trading day of the 12 months in Hong Kong.
Still, the value cuts show how the race by Chinese tech giants to win more orders for his or her emerging artificial intelligence products is heating up.
Major Chinese technology firms, including Alibaba, Tencent, Baidu, JD.comHuawei and TikTok parent Bytedance have all launched their very own major voice models within the last 18 months to capitalize on the hype surrounding the technology.
It's not the primary time Alibaba has announced price cuts to incentivize firms to make use of its AI products. In February, the corporate announced price cuts of as much as 55% across a big selection of core cloud products. Most recently, in May, the corporate lowered prices for its Qwen AI model by as much as 97% to stimulate demand.
Large language models, or LLMs, are AI models which might be trained on massive amounts of knowledge to generate human-like responses to user queries and prompts. They are the idea for today's generative AI systems, akin to the favored AI chatbot ChatGPT from Microsoft-backed startup OpenAI.
In Alibaba's case, the corporate is focusing its LLM efforts on the enterprise segment quite than launching a consumer AI chatbot like OpenAI's ChatGPT. In May, the corporate announced that its Qwen models had been deployed by over 90,000 enterprise users.
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