important point
- Alibaba on Friday unveiled a new AI tool, Tongyi Wanxiang, that can generate images from text prompts.
- The Chinese tech giant also launched ModelScopeGPT, an AI developer tool that can perform user-specific tasks.
- Alibaba’s U.S. deposit receipts rose nearly 4% in early Friday trading on the news.
Alibaba’s (BABA) American Depositary Receipt rose nearly 4% in early trading on Friday after the Chinese tech and e-commerce giant unveiled Tongyi Wanxiang, an artificial intelligence (AI) tool that can generate images from text prompts. Rose.
Alibaba Cloud, the digital technology arm of Alibaba Group, unveiled an AI tool trained on text and image datasets during the 2023 World Artificial Intelligence Conference in Shanghai. Users can enter prompts in English or Mandarin, and AI tools can generate different styles of images of her, such as 3D cartoons, flat illustrations, and sketches.
Tongyi Wanxiang is currently available in beta testing for enterprise customers, and Alibaba plans to expand access to the tool to businesses and consumers in the coming months.
Alibaba also launched ModelScopeGPT, an AI tool for developers that can perform specialized tasks for users, such as developing multilingual videos.
The move comes as tech companies race to bring new AI tools to the public, with Microsoft and Alphabet’s Google planning to roll out other AI-powered tools in the first half of 2023.
In April, Alibaba Cloud released Tongyi Qianwen, a large-scale language model that can text-answer user questions, similar to ChatGPT. Since its launch, the model has received more than 300,000 requests for his enterprise beta test.
