AI Startup West Lake Xinchen Searches for CEO to Build Chinese Version of OpenAI

On February 20, Danny Lan, founder of West Lake Xinchen, an AI service enterprise, denied rumors that the corporate was contemplating acquisition by Wang Huiwen, the billionaire co-founder of Chinese takeout large Meituan. Wang, who retired in 2020, was one of the primary entrepreneurs to purpose at creating the Chinese model of OpenAI.

The sharing economic system, blockchain, 3D printing, VR/AR, metaverse, and autonomous driving have all been well-liked subjects that emerged in Chinese scientific and technological circles and attracted entrepreneurs. Compared with these subjects, the just lately well-liked ChatGPT could maintain even higher enterprise and business alternatives.

Lan Zhenzhong’s remark could also be a sign of the pressing want for expertise by home firms trying to combine AI providers related to ChatGPT.

On February 13, Wang Huiwen introduced that he had invested $50 million to arrange Beijing Lightyear Technology Co., Ltd., an organization that develops good voice help software program, with a valuation of $200 million. However, the sector of AI that encompasses applications comparable to ChatGPT is often capital-intensive. According to Wang, the following spherical of financing has been secured for $230 million, backed by high enterprise capital establishments. According to 36Kr, these VCs embrace Source Code Capital, ZhenFund, and others.

However, discovering expertise in AI has all the time been a problem for Chinese startups. The possession construction of Beijing Lightyear Technology displays the problem find expertise with abilities in algorithms. Wang’s funds accounted for 25% of the shares, and the remaining 75% of the shares shall be used to appeal to high R&D expertise to work for the corporate.

Lan himself could give you the option to meet Wang’s necessities for high R&D expertise. Lan earned his doctorate diploma from The School of Computer Science at Carnegie Mellon University. In 2018, he joined the Research and Machine Intelligence Group of Google AI and carried out analysis in pure language processing (NLP). In two months, he skilled a light-weight model of a big language mannequin referred to as BERT.

After returning to China to be part of Westlake University in June 2020, Lan arrange an in-depth studying laboratory. He began to develop an AI psychological counseling platform and established West Lake Xinchen. He recalled three benefits of making a startup on the college. In specific, the college atmosphere offered him entry to information of over a million customers, the entire coaching and reasoning framework, and a pool of accessible expertise. Lan’s expectations for a CEO embrace a capability to combine high assets, enterprise foresight, and a agency perception within the alternative introduced by giant language fashions.

SEE ALSO: China’s First ChatGPT-Like Chatbot MOSS Released For Public Testing

A analysis report printed by BOC International, a subsidiary of the Bank of China, confirmed that the quantity of registered customers of ChatGPT has surged, suggesting that AI-generated content material (AIGC) has nice potential. However, the establishment argued that the excessive funding value in constructing ChatGPT isn’t but justified contemplating its present utilization, software eventualities, obstacles to entry, and commercialization potential. Large firms with information and capital are anticipated to profit extra from ChatGPT than AI software program firms.

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