Chinese language tech big Baidu reported its This fall FY 24 earnings, with income declining 2% to 34.12 billion yuan attributable to weaker promoting gross sales. Nevertheless, its Cloud AI unit grew 26% to 7.1 billion yuan, serving to offset some losses.
The corporate’s outcomes exceeded analyst expectations of 33.32 billion yuan, highlighting the power of its AI-driven initiatives regardless of financial headwinds and diminished advert spending.
In the course of the earnings name, the corporate’s CEO, Robin Li, stated that Hangzhou-based Excessive-Flyer-owned DeepSeek’s open-source method had accelerated AI adoption.
“One factor we realized from DeepSeek is that open sourcing the most effective fashions can drastically assist adoption. When the mannequin is open supply, individuals naturally need to strive it out of curiosity, which helps drive broader adoption,” Li stated.
The corporate additional introduced that it’ll launch the supply code for its Ernie 4.5 fashions in June and provide premium chatbot companies totally free by April. “So our determination to open supply ERNIE 4.5 collection, can also be backed by our deep confidence in our know-how management, he added.
Baidu was among the many first in China to launch a ChatGPT-style chatbot in early 2023, with Ernie 4.0 claiming to rival OpenAI’s GPT-4. Nevertheless, adoption has lagged attributable to sturdy competitors, particularly from DeepSeek’s R1 mannequin, launched final month.
Baidu’s AI Progress
The corporate introduced that in 2024, generative AI skilled sturdy market demand as enterprises more and more adopted AI-driven options. Baidu’s AI options fuelled adoption and bolstered market confidence in its experience.
“AI-generated content material now seems in 22% of search outcome pages, with efforts targeted on high quality and relevance,” Li stated in the course of the earnings name.
Baidu expanded past textual content technology to incorporate quick movies, nodes, brokers, digital people, and dwell streaming. The corporate positioned sturdy emphasis on brokers and stated it envisions them changing into one of the vital necessary types of AI-native functions.
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