August 16, 2023 - Tencent Holdings Ltd. has announced its plan to introduce its own artificial intelligence model later this year, positioning itself to compete against industry leaders such as Baidu Inc. and SenseTime Group Inc. Executives at Tencent have expressed confidence in the progress of their large language model, called Hunyuan, which powers generative AI and other applications. This move indicates that Tencent aims to catch up with its domestic peers in the AI field.
Tencent has been relatively quiet about its efforts in AI, leading some to believe it lagged behind other industry players. However, the company has been extensively testing the Hunyuan model on various services, including cloud computing and search. According to Martin Lau, Tencent’s president, Hunyuan is among China’s top foundation models and will be upgraded and prepared for launch later this year.
Tencent has revealed that its AI experiments extend beyond basic chatbots like OpenAI’s ChatGPT. The company has been internally testing AI for gaming, cloud computing, and financial technology, and intends to leverage the technology to enhance its advertising and marketing efforts. Lau sees AI as a growth multiplier for Tencent’s business, emphasizing that the company views AI as a broad opportunity for innovation, rather than just limited to chatbots and Q&A experiences.
In addition to its AI advancements, Tencent is also preparing a marketplace for business clients, allowing them to access and utilize generative AI-powered services. This move is expected to generate high-margin profits for Tencent.
Overall, Tencent’s push into the AI field indicates its determination to become a major player in the industry, competing with established leaders in China’s AI market.
