Alibaba Group Holdings and Huawei Technologies Co on Friday showcased new products, including an artificial intelligence (AI) image generator and an AI model upgrade, as Chinese companies jostle for position in the global AI race. Alibaba Cloud, an Alibaba subsidiary, presented at the World Artificial Intelligence Conference in Shanghai an image generator named Tongyi Wanxiang that will initially be available to enterprise customers in beta form. Also on Friday, Huawei demonstrated the third iteration of its Panggu AI model at the start of its three-day annual developer conference in Dongguan. Chinese tech companies are aggressively developing AI products after the ChatGPT chatbot by OpenAI ignited a generative AI boom. McKinsey estimates that generative AI could eventually add $7.3 trillion in value to the world economy each year. Alibaba’s image generator will compete with OpenAI’s DALL-E and Midjourney Inc’s Midjourney, U.S.-brd rivals that have gained a large following worldwide. Alibaba Cloud emerged from a massive overhaul announced in March that split the Chinese tech major into six units. In April, it launched a ChatGPT-like text generator Tongyi Qianwen.

Full story : China’s Alibaba and Huawei add products to AI frenzy.