As China takes more steps to deleverage and cool down its property market, the protracted slump is having an effect on overall economic growth – projections are being cut, with real estate mentioned as a specific cause for the revisions.
Baidu, the Chinese search giant, will "very soon” launch its own generative AI model called Ernie 3.5. According to Reuters, Ernie 3.5 a large language model (LLM) will power Baidu's ChatGPT-like chatbot, Ernie Bot, and help in upgrading its search engine.