To The Moon

At 2 PM on March 16, hundreds of millions of Chinese waited in Baidu$Baidu(BIDU)$ $BIDU-SW(09888)$ 's live broadcast room for Robin Li to release ERNIE Bot, a rival product on ChatGPT.

ChatGPT is a AI chatbot program that can write novels, change code, and the recently updated GPT-4 model can recognize pictures,even generate websites from sketches in 10 seconds!

ChatGPT is popular all over the world, similar to the iPhone moment in the AI era.

The revolutionary change has led all Chinese to focus their hopes on Baidu. After all, chat robots are naturally suitable for search, and Baidu all in AI for several years, it has been the most promising company to lunch a Chinese version of ChatGPT.

However, at the moment of great expectation, Baidu screwed up! Just after the press conference, Baidu Hong Kong shares plummeted, plunging nearly 10% at one point:The event was divided into two parts, with Baidu CEO Robin Li introducing and demonstrating ERNIE Bot's capabilities in a powerpoint presentation, followed by Baidu chief technology Officer Wang Haifeng introducing the underlying technology.

Before the presentation, Robin Li began to big talk a few minutes, admitting that ERNIE Bot could not compete with ChatGPT, and then explaining why he was so eager to release it in the name of satisfying market demand.

The most embarrassing moment is that Robin Li said that Baidu is the first company in the big Internet company to release intelligent chatbot, and it is a full-stack layout of chip layer, framework layer, model layer and application layer, which is unique in the world, and Baidu is the only one!

However, he is over confident, the whole network sighed when demonstrating began.

Robin Li asked ERNIE Bot some simple questions about the "three-body problem", such as who and where the author, but these questions certainly doesn't satisfy the market's appetite, and the more complicated question is what are the angles of the three-body series.Using Sichuan dialect to read text, copy to video are mature technology, no surprise to the market.

The most difficult logical deduction is the game of chicken and rabbit in the same cage, because there is a formula, and users complain about the general difficulty:On the whole, ERNIE Bot is still in its initial stage. Judging from the fact that Baidu only invites the test, rather than the public test, ERNIE Bot's release is very hasty.

To be honest, ERNIE Bot is no match for ChatGPT, and the gap has widened rather than narrowed as the technology has iterated.

However, due to various reasons, ChatGPT cannot be used in China, and training a dialogue model requires not only technical reserves, but also a large amount of money. At this stage, perhaps only ERNIE Bot can be used to compete.

So, investors are disappointed with ERNIE Bot, but it is still the most promising AI chatbot in China.

From the point of view of the stock price, due to the concept of ChatGPT, the trend of Baidu is obviously stronger than Alibaba$Alibaba(BABA)$ $Alibaba(09988)$ , Meituan$Meituan(03690)$ $MEITUAN(MPNGY)$ , Kuaishou$KUAISHOU-W(01024)$ and other Internet giants. Maybe, Baidu will return to value after the release of ERNIE Bot.