JD.com (NASDAQ:JD) stock is falling on Friday even after the Chinese e-commerce company revealed plans to develop its own artificial intelligence (AI) bot.
JD.com is calling its AI bot ChatJD and says it will be an “industrial version” of ChatGPT. This will have the bot focus on creating content as well as interacting with users. The company wants to embrace its own experience with e-commerce to set ChatJD apart from ChatGPT.
As a result, the specific fields of expertise ChatJD will cover include retail and finance. JD.com notes that this focus will see several uses for ChatJD. That includes creating summaries for online goods or financial work, per CNBC.
JD.com Joins the AI Frenzy
The recent surge of interest in ChatGPT has created hype surrounding the AI bot business. Microsoft (NASDAQ:MSFT) is one of the main supporters of AI and plans to integrate it into search. Other companies like Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) and Alibaba (NYSE:BABA) have also revealed plans to enter the space.
While many stocks have rallied after announcing AI plans, that’s not the case with JD stock. Investors will note that JD.com’s AI announcement comes on a day when the market is taking a beating. This comes as investors express concerns about the economy in the coming months.
JD stock is down 4.9% as of Friday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
