(Yicai Global) March 27 -- Research and development of artificial intelligence in China will need time to catch up with OpenAI’s chatbot Chat-GPT-3, according to one of the managing partners at Chinese venture capital firm Qiming Venture Partners.

China’s AI development has more advantages than in previous years thanks to talent, market application, and huge investment, though it has not yet made it into the first tier, Duane Kuang said during a rouble-table discussion at this year’s China Development Forum.

But it is just a matter of time for China’s R&D on AI to catch up with ChatGPT-3 and Chat-GPT-3.5 since the general model and direction have been set, he noted.

Meanwhile, the subsequent international exchange, regulation, and global consensus are worthy of in-depth discussion, Kuang pointed out.

The new generation of AI will bring fundamental changes to various content-generating sectors, including search, human-computer interaction, gaming, writing, and education, Duane Kuang said during a rouble-table discussion at this year’s China Development Forum held in Beijing from March 25 to today.

In the longer run, using the new generation of AI as a platform may give birth to more innovative companies, Kuang added.

Founded in 2005, Qiming Venture Partners invests in the technology and consumer fields. As of February last year, it had invested in more than 480 firms, about 180 of which are listed, including smartphone giant Xiaomi, video platform Bilibili, and biotech firm CanSino Biologics.

The three-day China Development Forum wraps up in Beijing today.

Editor: Zhang Yushuo, Futura Costaglione