(Yicai Global) Feb. 1 -- The market for artificial intelligence-generated-content applications, such as chatbot ChatGPT, will grow quickly as the technology matures, Chinese e-commerce giant Tencent Holdings' research arm said recently.

AIGC tools, such as deep learning models DALL-E 2 and Stable Diffusion that generate images from written prompts, have become increasingly popular in industries with high digitalization and rich content requirements, such as e-commerce, media and entertainment, the Tencent Research Institute said yesterday on its WeChat account.

Tencent’s Hunyuan AI model, for instance, uses AIGC to create advertising videos using just the text, greatly reducing the cost of making adverts.

AIGC can slash the cost of content generation and interconnection, the report said. This will trigger a material change in price structure, bringing about a shock in some industries.

Between 10 percent and 30 percent of picture content in the next five years will be generated by AI and the market is expected to be worth CNY60 billion (USD8.9 billion) by then, the report said, citing 6pen Art.

The AIGC market could reach USD110 billion by 2030, a foreign business consultancy said.

Editor: Kim Taylor