Chinese AI startup 01.AI, led by CEO Kai-Fu Lee, has released an open-source AI model called Yi-34B that outperforms Meta's own model, marking an early win for China in the AI arms race with the US.
Lee believes that China has the potential to overtake the US as the world leader in AI technology.
The model, available in English and Chinese, has gained attention for ranking first among pre-trained base LLMs on the open-source community Hugging Face's rankings.
Lee aims to make better AI accessible to more people and expects the model to be useful for multinational banks and insurers.
01.AI has stockpiled chips in anticipation of further US restrictions on Chinese access to chips necessary for building AI models.
Lee sees 01.AI as a necessary response to US restrictions that have limited China's ability to advance in the AI field.
Lee has written extensively about the coming battle between China and the US for AI supremacy and has warned of the potential economic and social upheaval that AI will bring about.
He believes that AI technology will lead to wealth concentration, rising profits for corporations, and mass unemployment.
Lee envisions a world in which the US and China become the dominant players in AI, with other countries becoming economic dependents.
He believes that more regulation is needed to prepare for the changes that AI will bring.
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