Alibaba has released an advanced artificial intelligence model to challenge Microsoft and Amazon

China's Alibaba has unveiled an updated version of its Tongyi Qianwen 2.0 artificial intelligence model to compete with US AI tech giants.

Here's What We Know

The company called the new model a significant upgrade from the previous version released in April. Tongyi Qianwen 2.0 shows improved abilities in understanding complex instructions, reasoning and error avoidance.

Alibaba also unveiled industry-specific AI models for the fields of law and finance. In addition, the company announced the GenAI platform, which will allow other companies to build their own generative AI applications based on their own data.

Alibaba's AI efforts will allow it to compete with Microsoft and Amazon, which offer similar solutions. While the company already dominates the Chinese cloud market, it is looking to catch up with American competitors internationally.

Source: CNBC