Naver Introduces HyperClova X, a New Generative AI Model to Compete with OpenAI’s ChatGPT
South Korean internet giant Naver has entered the market of large language models with the release of its own generative artificial intelligence tool, HyperClova X. Often referred to as the “Google of South Korea,” Naver aims to enhance search capabilities and improve marketing and shopping experiences for advertisers and users.
Improving Work Productivity and Language Capabilities
Naver has introduced various applications powered by HyperClova X, including Cue, a generative AI search service, and Clova X, a chat app. The goal of Clova X is to boost work productivity by summarizing documents, providing language translation, and offering an AI writing tool for drafting emails and blog posts. Beta testing for Clova X began on the same day it was announced.
By recognizing the competitive edge of OpenAI’s ChatGPT, Naver has worked to match its capabilities. Naver CEO Kim Yuwon highlighted HyperClova X’s proficiency in Korean, but the company has also made efforts to improve language capabilities in English and other languages. Despite the introduction of this new generative AI tool, Naver saw a 6.03% rise in its shares on the day of the announcement.
Commitment to AI Development and Collaboration with Samsung Electronics
While Naver may still trail behind global players like OpenAI, Microsoft, Meta, Alibaba, and Baidu, CEO Choi Soo-yeo reaffirms the company’s commitment to AI development. Over the past three to four years, Naver has invested a total of 1 trillion Korean won ($756.8 million) in AI research and development. Additionally, Naver is collaborating with Samsung Electronics to develop low-cost and efficient AI semiconductor chips, aiming to enhance the quality of its services.
In the future, Naver aims to further refine and develop its generative AI model with the goal of creating more value for its users and advertisers. The company has a track record of leveraging AI technology to improve services, particularly in enhancing the efficiency of e-commerce recommendations.
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Editor Notes: The Rise of HyperClova X and Naver’s AI Commitment
With the release of HyperClova X, Naver aims to establish itself as a strong competitor in the generative AI market, challenging the likes of OpenAI’s ChatGPT. The investment of 1 trillion Korean won ($756.8 million) in AI research and development demonstrates Naver’s dedication to advancing AI technology.
Naver’s collaboration with Samsung Electronics to develop efficient AI semiconductor chips further exemplifies its commitment to enhancing the quality of its services. By combining expertise in language capabilities, work productivity tools, and e-commerce recommendations, Naver is well-positioned to provide valuable experiences to its users and advertisers.
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