Chinese State Media and Payment Association Sound Alarm on AI Products, including ChatGPT

A government-operated newspaper from China has signaled its apprehensions about the current excitement and inflated market surrounding AI advancements, including sophisticated chatbots like OpenAI’s ChatGPT, as noted by SCMP. reported In an article titled \"Bubble Prevention Needed While Promoting AI,\" published by the Economic Daily—a publication directly under the purview of the Chinese Communist Party’s propaganda arm—the paper emphasizes the necessity for regulatory measures.

The warning from the Economic Daily indicates that the present state of the AI market may be precariously overvalued and in need of sensible regulations to avert potential economic pitfalls. The report brings attention to ChatGPT, a widely discussed chatbot noted for its ability to produce human-like text through complex deep learning techniques.

While acknowledging the advantages that AI technologies can offer, the newspaper advises caution against the rampant enthusiasm and unrealistic aspirations that could foster an industry bubble, particularly in light of the Chinese government's ambition to become a leader in this sector. position in AI development .

Reuters also reported On Monday, the Payment and Clearing Association of China, linked to the central government’s banking institution, urged users to exercise caution with AI instruments, notably ChatGPT, due to potential threats like cross-border data leaks. They stressed the importance for professionals in the payment sector to comply with relevant laws and regulations when utilizing such tools, steering clear of disclosing sensitive financial information pertinent to China.

Despite OpenAI’s chatbot being off-limits for Chinese users, there’s a strong enthusiasm among local tech firms to integrate such technologies into their offerings and create competitive alternatives, as reported by Reuters. Although registering for OpenAI accounts is not feasible for individuals in China, many have managed to access the bot via VPNs and international phone numbers, leading to a substantial interest in AI advancements. Within the Chinese tech landscape, companies like Baidu and Alibaba are swiftly advancing their own AI chatbot projects to meet the surging demand for AI solutions. , despite its limited accessibility. 

Discover 100+ Stable Diffusion Prompts: The Most Captivating AI Text-to-Image Prompts Available Ernie Bot and Tongyi Qianwen In just two hours, the South China Morning Post has successfully sold its inaugural historical NFT collection.

Read more:

• Improbable grants fans an exciting first look at the Otherside experience.
• Please note that the information presented on this site is not meant as, and should not be interpreted as, legal, tax, investment, financial advice, or any other type of guidance. It's crucial to only invest what you can afford to lose and to consult with an independent financial advisor if there are any uncertainties. For more information, we recommend reviewing the terms and conditions, as well as the support resources provided by the issuer or advertiser. MetaversePost strives for accurate and impartial reporting, but keep in mind that market conditions can change rapidly without prior notification.
• Agne is a journalist dedicated to covering the cutting-edge trends and developments in the realms of the metaverse, AI, and Web3 for the Metaverse Post. Her love for storytelling has inspired her to conduct a multitude of interviews with industry experts, always hunting for compelling and engaging narratives. With a Bachelor’s degree in literature and a rich history of writing on diverse topics from travel to art and culture, she has also volunteered as an editor for an animal rights organization, helping to elevate awareness around animal welfare issues. You can reach her at
• China plans to boost VR to $48 billion by 2026