Kai-Fu Lee, a prominent figure in the AI industry and former head of Google China, has launched a new AI application named Wanzhi through his Beijing-based startup. This free productivity assistant, which is the company's first AI product aimed at consumers, is designed to create spreadsheets, slide decks, and abstract books, including handling complex tasks such as summarizing a 600,000-word biography on Elon Musk. Lee emphasized the need for China to have its own version of ChatGPT, especially since OpenAI's products are banned in the country. He believes that Wanzhi will help accelerate interest, adoption, and investment in AI within China, marking China's ChatGPT moment. Additionally, Lee's company claims that their latest AI model has surpassed the capabilities of OpenAI's GPT-4.