Baidu announced its financial report for the third quarter of 2024 yesterday, showing total revenue of 33.6 billion RMB, a 3% decrease compared to the same period last year. In terms of net profit, Baidu's net profit attributable to the company was 7.6 billion RMB, while the non-GAAP net profit was 5.9 billion RMB. During the subsequent earnings conference call, Baidu's senior management, including Chairman and CEO Li Yanhong, President of the Mobile Ecosystem Group Luo Rong, President of the Intelligent Cloud Group Shen Dou, and Acting CFO He Junjie, provided detailed insights on the highlights of the report.

At the 2024 World Baidu Conference, Baidu founder Li Yanhong presented a series of eye-catching advancements in the field of AI. He pointed out that the most significant breakthrough in large model technology over the past two years has been the basic resolution of the 'illusion' problem, marking a qualitative leap in the accuracy of AI responses, transforming it from 'seriously spouting nonsense' to a reliable intelligent assistant. At the conference, Li Yanhong emphasized Baidu's latest retrieval-augmented generation technology, iRAG, which innovatively integrates the vast image resources accumulated by Baidu's search platform and advanced techniques.

At the 2024 Baidu World Conference held at the Shanghai Expo Center, Li Yanhong, founder, chairman, and CEO of Baidu, announced an impressive achievement: the daily call volume of the Wenxin large model has exceeded 1.5 billion, a figure that has grown by more than 7.5 times in the past six months.

Baido's official Weibo announced on October 31 that Baido founder Li Yanhong will deliver a one-hour keynote speech at the Baido World 2024 conference, which will be held on November 12. The poster for this speech integrates key insights from Li Yanhong's recent appearances. On the application level, he focuses on the development directions of natural language processing, intelligent systems, and search technology. Regarding industry trends, Li Yanhong pointed out in a previous interview with the Harvard Business Review that despite the inevitability of bubbles, 1% of companies will still stand out in competition.

Baidu released its Q2 2024 financial report, showing total revenue stable compared to last year, with the autonomous driving business performing impressively. Luobo Kuaipao completed approximately 899,000 orders in Q2, a year-over-year increase of 26%, with cumulative service orders surpassing 7 million, reflecting market demand and user recognition. Baidu founder Li Yanhong discussed the operations of Luobo Kuaipao in Wuhan during the earnings call, revealing that the fleet currently consists of around 400 vehicles, but the market share is only 1%. Despite the challenges of expanding market share, Li Yanhong remains optimistic about the future of Luobo Kuaipao.

At the 28th Baidu Hackathon, Baidu Founder, Chairman, and CEO Li Yanhong shared unique insights for the younger generation. He suggested that young people do not have to choose artificial intelligence (AI) as their major field. Li Yanhong believes that the reason AI has tremendous potential is that it can have a profound impact on almost all industries. Therefore, he encourages young people to follow their interests when choosing a major while also learning some AI-related knowledge.

During the Industry Development Main Forum of the 2024 World Artificial Intelligence Conference, Baidu founder Li Yanhong delivered a speech. He emphasized that in the era of artificial intelligence, developing "super-efficient" applications is more important than chasing "super-apps" with a daily active user count (DAU) of 1 billion. Li Yanhong believes that we should transcend the thinking patterns of the mobile era and avoid falling into the "super-app trap," recognizing that the definition o

Recently, Baidu CEO Li Yanhong looked ahead to the future of AI at the Yabuli event, believing that intelligent agents will become the new websites of the AI era and expecting the formation of a massive ecosystem with millions of intelligent agents.

Apple firmly responds to the EU's €500 million fine; ByteDance is secretly developing multiple AI products; OpenAI claims the New York Times hired hackers to attack ChatGPT; Google CEO calls the diversity issues in Gemini 'unacceptable'; Li Yanhong expresses strong investment in generative AI and foundational models; Elon Musk and Lei Jun discuss Apple's abandonment of car manufacturing; Sony PlayStation department lays off 900 employees; Changan Auto responds to the acquisition of HiPhi; GitHub launches Enterprise version of Copilot.

Baidu Intelligent Cloud's total revenue in the fourth quarter was 8.4 billion yuan, with large models contributing about 660 million yuan in incremental revenue to the cloud business.

Baidu's net profit for 2023 surged 39% to 28.7 billion yuan. Baidu's total revenue for the entire year of 2023 is 134.598 billion yuan. Baidu's total revenue for the fourth quarter of 2023 is 35 billion yuan. Baidu's net profit under non-GAAP for 2023 reached 28.7 billion yuan.

Large models themselves do not possess the ability to create value and must rely on application scenarios to realize opportunities and imagination for commercialization. In the future, there may be killer applications suitable for small and medium-sized enterprises to develop AI applications, with the potential for multiple super apps to emerge. Currently, there have been no AI native applications domestically and internationally, but the commercial potential is enormous. The industry is gradually shifting towards the application layer, which is key to the prosperity of the AI industry.

Baidu Chairman and CEO Li Yanhong stated that Baidu Wenxin Yiyan is one of the first large language models to implement charging. Li Yanhong introduced the excellent performance of Baidu Wenxin Yiyan 4.0 and its warm welcome from users. Starting from November 1st, Baidu will charge enterprises and consumers for using the Wenxin Yiyan service. Baidu has achieved significant results in driving advertising business growth through generative artificial intelligence technology. Baidu will continue to leverage generative AI and large language model technology to achieve sustainable revenue growth.

China has 238 large models, but Li Yanhong warns that the development of large models may be a waste of social resources. Li Yanhong emphasizes that large models should combine general capabilities with specialized knowledge, serving as the foundational base for AI-native applications. AI-native applications need to possess technical capabilities such as natural language interaction, understanding, generating reasoning, and memory, along with simple interaction design. Baidu is actively working to promote the development of AI-native applications on the large model platform, providing multimodal answers and document generation services. Li Yanhong believes that the hallmark of entering the AI era is the creation of more AI-related innovations.