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Baidu mentioned on Tuesday it has “comprehensively reshaped” its product portfolios because of its AI basis mannequin ERNIE, leading to elevated operational effectivity, after the Chinese language search big firm reported 6% year-on-year income progress to RMB 34.4 billion within the third quarter. Nonetheless, the corporate’s cloud unit reported its first decline in income in virtually three years.
Why it issues: Baidu pointed to synthetic intelligence bringing about constructive modifications in key efficiency indicators throughout all of its companies in its newest earnings report. The agency additionally highlighted that its ChatGPT-like service ERNIE Bot has already amassed 70 million customers.
Particulars: Though the corporate’s general progress was up, Baidu’s AI cloud income decreased by 2% within the three months to September. Robin Li, CEO of the agency, mentioned this was resulting from weak demand in sensible transportation initiatives, regardless of robust demand for generative AI. The figures marked the primary decline in Baidu’s cloud enterprise because it began asserting its earnings individually within the final quarter of 2020.
- Internet marketing enterprise, which accounts for over half of Baidu’s whole earnings, skilled 5% year-on-year income progress through the interval. This progress price was slower than the previous two quarters and lags behind a few of its internet-focused friends.
- In the course of the associated earnings name, Li expressed confidence that Baidu’s present chip reserves may “preserve enhancing ERNIE Bot for as much as two years” amid the US’s tightening of curbs on superior chip exports to China. He did, nonetheless, add that Baidu will nonetheless search alternate options because of the tempo of AI growth in China being “inevitably” impacted by difficulties in buying probably the most superior chips.
- The chief government of Baidu warned per week in the past that China’s rush to develop a number of giant language fashions had led to a “losing of assets,” and he once more instructed traders on the decision that “the best choice in the marketplace” is corporations creating AI-native apps primarily based on Baidu’s basis mannequin quite than coaching fashions themselves.
- Baidu additionally named JD CEO Sandy Xu as an impartial director of its board efficient from the start of 2024.
Context: Baidu’s giant language mannequin, ERNIE, was made obtainable to the general public on the finish of August after receiving authorities approval. Final month, Baidu launched the newest model of its AI mannequin, ERNIE 4.0, seven months after the discharge of its first model.
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