During the event, the company showcased Baidu Brain 6.0's capabilities by letting younger "virtual" versions of CEO Robin Li and CCTV host Kang Hui -- which were modeled after their appearances . More by Chris Udemans. Members of the editorial and news staff of USA TODAY Network were not involved in the creation of this content. Hey Travis! Baidu CEO Robin Li pivoted his entire company which includes his $8.7 billion stake to take advantage; Even super investor Warren Buffett says that it will have a "hugely beneficial social effect" When so many successful people are all saying the same thing, it usually pays to listen Why it matters: Baidu has had a rollercoaster of a year, including seeing its share price fall by 36% year to date. CEO Robin Li delivered a speech at the Emerging Engineering International Forum 2021, hosted by his alma mater Peking University, where he spoke about the engineering mindset that drives Baidu 's business and the company's commitment to cultivating five million AI talent in the next five years, contributing to China's growth as a . Baidu CEO Robin Li pivoted his entire company which includes his $7 billion stake to take advantage of it Even super investor Warren Buffett says that it will have a "hugely . Privacy Policy. ONPASSIVE - The Future Of Internet. The start-up, which has yet to be named, will reportedly use Baidu's artificial intelligence (AI) tools to develop new drugs, diagnose tumors, and produce other "biological innovations." Energy Secretary and PDP-Laban vice chairman Alfonso Cusi said - Reddit Home to just over 300,000 people, it's a greener, more relaxed version of the city, with bicycle tracks, leafy riverside promenades and markets filled with family-run businesses. If You Do This, You Won't Have to Worry About Them, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. The CEO of ARK Investments takes Bezos further: We think [it] could approach $17 trillion in market cap which would be 35 Amazons. Whatin the world could be worth 35 Amazons? Baidu CEO Robin Li pivoted his entire company which includes his $12.9 million stake to take advantage of it . This field is for validation purposes and should be left unchanged. }); BioMap is an AI-driven research and development platform focusing on precision medicine, co-founded by Baidu CEO Robin Li and former Baidu Ventures CEO Wei Liu in September 2020. window.dataLayer = window.dataLayer || []; Baidu CEO Robin Li says he remains bullish on his company's AI investments despite recent troubles. Over 200,000 Founders believe so! Biodegradable plastics can ease this problem, contributing to the goal of a . Baidu plans to expand its robotaxi ride-hailing services across 30 cities in China in two to three years to serve a wider range of users. CEO says this is worth 35 Amazons. Amazon's Jeff Bezos stunned Amazons Jeff Bezos surprised investors recently when he revealed that one emerging technology is the key to Amazons future success. The Motley Fool owns shares of and recommends Amazon and Baidu. googletag.enableServices(); googletag.cmd.push(function () { googletag.pubads().enableSingleRequest(); Li added that the development of the biocomputing industry requires the combination of ecological and industrial expertise. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a . Making the world smarter, happier, and richer. gtag('js', new Date()); Natural language processing (NLP), multi-modal interactive AI assistant and computer vision capabilities have enabled Xiaodu Baidu's signature smart display product to provide elders with immediate assistance and virtual companionship around the clock, improving their quality of life greatly while remotely reassuring family members of their healthy and safety. With a small team, TechNode provides timely news and thoughtfully researched articles for worldwide readers interested in learning more about the Chinese tech industry. BEIJING, Aug. 18, 2021 /PRNewswire/ -- Today, Baidu held its annual flagship technology conference, Baidu World 2021, where Co-founder and CEO Robin Li unveiled his vision for mobility of the . Chinese search giant Baidu is in discussions with investors to raise up to $2 billion over three years for a new biotech company, a person close to the matter told CNBC. (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o), The CEO said he is optimistic about AIs effects on society, explaining that he expects the technology to improve peoples lives. The development of this AI ecosystem could expand Baidu's search engine beyond PCs and mobile devices, which would widen its moat against Tencent, which is pulling away users with WeChat's Mini Programs and integrated searches, and Alibaba, which turned its online marketplaces into China's largest digital advertising platforms. Since making this change in 2001, Baidu has gone on to become one of the most . Baidu isn't expected to be the controlling shareholder in the new venture. Back in 2017, the CEO of ARK Investments even said: "We think . CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool . Baidu was long known in China as a part of BAT -- Baidu, Alibaba and Tencent . GlobalData forecasts that the market for AI platforms for the entire healthcare industry will reach $4.3bn by 2024, up from $1.5bn in 2019. googletag.defineSlot('/58361164/TheBlock-MPU-News', [300, 250], 'div-gpt-ad-1489408127638-0').addService(googletag.pubads()); remarkable company is absolutely dominating this exploding market. Ltd. DSR Inspire, Plot No: 21, Sector: 1, Hitech City Rd, HUDA Techno Enclave, Madhapur, Hyderabad, Telangana 500081, INDIA, Dubai - Burj Khalifa, Floor 134, 1 Sheikh Mohammedbin Rashid Blvd - Downtown Dubai - Dubai - United Arab Emirates, Data Analytics, Visualizations, Data Warehousing, Global Diversity, Equity, and Inclusion Initiatives by ONPASSIVE, A Shark Tank billionaire says it will create the worldsfirsttrillionaire, Baidu CEO Robin Li pivoted his entire company which includes his $12.9 million stake to take advantage, Even super investor Warren Buffett says that it will have a hugely beneficial social effect. Wired sys it is the Rocket Fuel of the AI. } The individual was not authorized to speak publicly about the project. })(); As of March 2022, his net worth was estimated at US$8.5 billion. Past performance is not a predictor of future results. Li highlights that self-driving vehicles dont just provide an opportunity itself but also has a knock-on effect of requiring urban transport infrastructure, especially the software, to be updated.. A number of investors are interested in joining the funding, the person said, adding that they could not disclose more details as talks are still in the early stage. He can often be sighted at tech conferences with a strong coffee in one hand and a laptop in the other. CEO Robin Li is personally involved in the biotech project, said the source who spoke to CNBC. Baidu CEO Robin Li beamed into the virtual venue in "Xirang," Baidu's metaverse product released in November, to talk about his vision for AI in the next ten years. And this giant leap forward has many on Wall Street very excited. } Our advanced autonomous driving technology has positioned us as a global leader of the smart transportation industry. } gads.src = (useSSL ? AI is the Transformative Force Revolutionizing Future Human Development would be 35 Amazons. var googletag = googletag || {}; Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. answer is a radical breakthrough thatWiredsays is the rocket fuel But will these new healthcare ventures move the needle for its core business, which still relies heavily on digital ads and its video streaming unit iQiyi (IQ 1.56%)? Thats because another company (less than 1/6th the size of Amazon)is producing a component so powerful that we see it as one of the true, enduring leaders in this futuristic technology. googletag.enableServices(); Doesnt sound like you! Leo Sun owns shares of Baidu, JD.com, and Tencent Holdings. The Canadian Motley Fool AI pitches have tended to be for either Blackberry (BB) or Open Text (OTEX). Baidu's move comes as China's technology companies try to boost their presence in healthcare, a move accelerated by the coronavirus pandemic. (In 1st place is Jack Ma, the founder and CEO of Alibaba with $36.2 billion.) Hongkong-handover-10years-economy This picture taken 14 May, 2007 shows 78-year-old Tai Yum-po and Kong siu-kan chat outside "cage dwellings", in one. United States - 7380 W Sand Lake Rd, Suite 500-529 Orlando, FL 32819, USA, Singapore - ONPASSIVE Pte Limited 32 PEKIN STREET #05 - 01, SINGAPORE 048762, India - ONPASSIVE Technologies Pvt. Your California Privacy Rights/Privacy Policy, A Shark Tank billionaire says it will create the worlds first, Baidu CEO Robin Li pivoted his entire company which includes his $12.9 million stake -- to take advantage, Even super investor Warren Buffett says that it will have a "hugely beneficial social effect. Billionaire and Baidu CEO Robin Li on Thursday . Baidu chief doused with water at AI event - BBC News //ccm informer The CEO of ARK Investments takes Bezos further: We think [it] could approach $17 trillion in market cap which would be 35 Amazons.. m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) Baidu held an AI event in its own metaverse - and it's not cool position: inherit; GUANGZHOU, China Chinese internet search giant Baidu is in discussions with investors to raise up to $2 billion over three years for a new biotech company, CNBC has confirmed. /*articlepage mpu*/ The Motley Fool recommends iQiyi. One or even 100 companies may not be enough. Shark Tanks Ron Cuban says this will create the worldd first Trillionaire. _ml.us.dcm && ga(gaSet, 'dimension7', _ml.us.dcm ); Li also used his speech to announce that his new firm BioMap has now received funding of 1bn renminbi (approximately US$156m). 2 search engine worldwide, second only to Google. The technical storage or access that is used exclusively for statistical purposes. Thats because another company (less than 1/6th the size of Amazon)is producing a component so powerful that we see it as one of the true, enduring leaders in this futuristic technology. Chinese tech giant Baidu (BIDU 1.35%) is in talks with interested parties to invest up to $2 billion in a biotech start-up over the next three years, according to Reuters. Group Led by Baidu CEO Abandons Bid to Buy Out Video Unit We are an AI technology company that builds fully autonomous SaaS products using the latest AI Software Technologies for our global customer base. Baidu's interest in funding an AI-powered biotech start-up will likely draw comparisons to Alphabet 's investments in its life science subsidiaries Calico, which researches . All Rights Reserved. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. China-based medical investment firm Viva Biotech announced a strategic collaboration agreement with BioMap at the conference, and stated that biotech firms AlxplorerBio and EPN had also signed the agreement. Baidu co-founder and CEO Robin Li believes the future of road transport is robotic. He's currently the 8th richest man in China. Does anyone know what company this could be? When We use cookies on this site to enhance your user experience. display:none; Learn how your comment data is processed. This will be driven by the use of AI by healthcare providers and payers, which is forecast to reach $2.9bn by 2024. Spread the love The system is coming hinged, Atif Mian says. Any update on this pitch? Dr Delin Ren, President of Viva Biotech, said: The integration of AI deep learning technology and our SBDD technology platform is bound to have a far-reaching impact on drug design and R & D. It is expected to shorten the R & D cycle and improve the success rate of novel drug discovery.. [+] an event in Beijing, Thursday, March 16, 2023. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. in the world could be worth 35 Amazons? This year, Baidus stock price has dropped 36 percent. Chinas biggest search engine Baidu is optimistic about its investments in artificial intelligence (AI) despite the companys recent financial troubles and increasing competition from domestic competitors. CEO Says This Is Worth 35 Amazons | The Motley Fool Australia Li said hes an optimist when it comes to AIs ability to make lives better.
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