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The “Chinese Google’s” Stocks Are Plummeting After Their Disappointing Chatbot Launch

Baidu Inc’s recent debut of its AI chatbot, Ernie Bot, has left many investors and tech enthusiasts disappointed. Instead of putting the service through its paces in real-time, the company’s billionaire founder, Robin Li, talked over a scripted video of interactions with the artificial intelligence bot. As a result, the omission raises questions over Ernie’s ability to match OpenAI’s ChatGPT, which has impressed and worried users since its launch in November last year.

Baidu, China’s answer to Google, has struggled in recent years to revitalize growth. Its decision to enter the AI chatbot market was seen as a potential turning point for the company. However, the lackluster demo has caused the company’s shares to plummet by 10 percent, wiping out more than US$4 billion of its value. Investors and analysts are skeptical about the company’s ability to compete with OpenAI’s ChatGPT.

One of the chief concerns raised by investors and analysts is the lack of transparency in the demonstration. The demos did not look spontaneous, and Li did not provide any details about the database that Ernie Bot is drawing from, its model, or how it compares to ChatGPT. The presentation was vague and theoretical, leaving many questions unanswered.

Baidu has opened registration for consumers and cloud clients to access the AI chatbot, but it has not specified when the service will be available for use. The company’s inability to provide concrete details about its product has caused investors and analysts to worry about its ability to compete with other companies in the AI chatbot market.

In conclusion, Baidu’s disappointing demo of Ernie Bot has caused the company’s shares to plummet and raised concerns about its ability to compete with OpenAI’s ChatGPT. The lack of transparency in the demonstration has left investors and analysts skeptical about the company’s future in the AI chatbot market. Baidu will need to provide more concrete details about its product and its capabilities if it hopes to win over investors and compete with other companies in the market.

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