Mega-trends

Artificial intelligence: the attempted run-up by Meta and Chinese tech companies

Posted by MoneyController on 14.05.2024

The race to develop new, increasingly high-performance artificial intelligence software does not stop and involves further large American companies, such as Meta, but also new Chinese start-ups.

Meta and open source artificial intelligence software

Meta, the company founded under the name Facebook by Mark Zuckerberg, plans to spend USD 40 billion on its artificial intelligence projects in 2024. As Pier Luigi Pisa explains in the ‘Affari&Finanza’ insert of the daily newspaper ‘La Repubblica’, this is a figure comparable to that put up by Google and Microsoft. Meta, however, has decided to present itself on the market with a novelty: it will make its artificial intelligence software available to users free of charge.

Why provide software for free?

The strategy of Zuckerberg's company,' explains Pisa, ’is twofold: a) to attract more users of the platforms controlled by Meta (Facebook, WhatsApp, Instagram, etc.), where it will be possible to take advantage of the free artificial intelligence programme; b) to allow external developers to operate on the software free of charge, with the possibility of more powerful versions being made. The artificial intelligence system developed by Meta is called LLama-3.

Chinese companies try to catch up with American competitors

In the meantime, companies have appeared on the Chinese market seeking to bridge the gap between the artificial intelligence systems developed by American companies and those currently available on the Chinese market: as Gianluca Modolo points out (again in ‘Affari&Finanza’ of ‘Repubblica’), artificial intelligence programmes developed in the United States, such as ChatGPT, are not available on the Chinese market.

The landscape of artificial intelligence start-ups in China

Although lagging behind their US competitors, the Chinese can now count on a number of companies actively engaged in the development of artificial intelligence projects. Modolo mentions Zhipu, Moonsi, MiniMax 0.1, Baichuan, Ma Shengshu and Aisphere. Modolo also reports data on the value of the artificial intelligence industry in China: according to official Chinese sources (Ministry of Industry and Information Technology), the value of this market will be 580 billion yuan this year, or roughly 75 billion euros.

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