[Asia Economy Reporter Hyungsoo Park] Bitnine is showing strong performance. It appears that news about global big tech companies engaging in an unprecedented speed race for AI (Artificial Intelligence) dominance is influencing the stock price.
As of 9:46 AM on the 27th, Bitnine is trading at 12,810 KRW, up 17.22% from the previous day.
On the 6th (local time), Google officially launched its AI chatbot ‘Bard (poet)’ to compete with OpenAI’s ChatGPT. Sundar Pichai, CEO of Google, stated on the Google blog that "the new conversational AI service Bard will be opened to trusted testers" and "a service for the general public is being prepared within the coming weeks."
Google plans to allow other developers to create their own apps using Bard. CEO Pichai said, "Next month, we plan to open the generative language API (Application Programming Interface) to individual developers, creators, and enterprises."
Microsoft aims to secure AI dominance before OpenAI’s ChatGPT and the under-development GPT-4 are integrated into its Bing search engine. Google is scheduled to hold an AI-related event in Paris on the 8th (local time) to reveal detailed plans regarding this.
Microsoft is expected to hold a briefing on the 7th (local time) attended by Sam Altman, CEO of OpenAI, to announce its strategy for applying AI to its products. Recently, Microsoft made an investment worth 12 trillion KRW in OpenAI and announced plans to integrate OpenAI’s ChatGPT and GPT-4 into MS programs such as Excel, PowerPoint, Teams, and its search engine.
The emergence of the AI chatbot ChatGPT has increased market interest in the core technology of graph databases (DB). Graph DB is a foundational technology that can most efficiently search and manage AI knowledge data, which is central to chatbots. For AI services like ChatGPT to naturally understand human language (natural language) and provide responses aligned with user intent, they must accurately search data and even generate new knowledge. This requires core technology for knowledge graphs that tightly connect relationships between knowledge.
Bitnine’s graph DB technology structures complex and fragmented data into knowledge graphs. Knowledge graphs are an essential condition for generating new knowledge. Many AI chatbot companies in Korea are also utilizing graph DBs to create such knowledge graphs.
A Bitnine representative explained, "Graph DB technology optimized for processing large volumes of data is an essential condition for AI chatbot development," adding, "Compared to existing systems, it provides a more intuitive and flexible way to store and query data."
They further introduced, "It is also the most suitable technology for improving the performance of NLP (Natural Language Processing) tasks such as sentiment analysis and text classification, beyond just data processing and analysis."
The representative said, "Recently, large-scale demand has been generated in fields with high utilization of graph DBs such as ChatGPT, AI, and big data," and added, "Bitnine will continue to capture many graph DB business opportunities in overseas markets based on its own R&D clusters established in North America, Europe, and India."
Founded in 2013, Bitnine is the only company in Korea that possesses graph database (DB) technology. The core technology, graph DB, has the advantage of intuitively understanding relationships between entities and meaningfully representing interactions between them. It offers faster computation speeds and higher usability compared to relational DBs.
Bitnine developed the world’s first hybrid graph database that combines relational databases and graph databases. By enabling the simultaneous use of the widely used relational databases and the newly adopted graph databases, it provides a solution that existing customers can use easily and conveniently.
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