Unlocking the Magic: How Baidu Harnesses the Power of Generative AI to Propel Its Growth

China-based Baidu has achieved significant growth in Q2 by leveraging AI technologies and advancements in advertising. The company's CEO, Robin Li, stated that Baidu is prepared for continued growth in the future.

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Baidu Harnesses Generative AI for Stronger Performance

Li mentioned that Baidu is using its own AI-powered chatbot, Ernie Bot, which is similar to ChatGPT, to enhance its search capabilities and develop new services. This move has helped Baidu improve, innovate, and rebuild its offerings.

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The integration of generative AI into Baidu's monetization system has allowed for expanded advertising campaign keywords based on user search queries. Additionally, the company's advertisers can now leverage AI to create images and videos using natural language.

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Generative AI has also played a crucial role in enhancing Baidu's auction system, ensuring better matching of advertisements with relevant search queries. Baidu is currently awaiting approval for a large-scale deployment of its AI-powered chatbot.

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In terms of financial performance, Baidu has witnessed a 43% YoY increase in net income, reaching £5.2 billion. Its overall revenue has also grown by 15% to £31.1 billion. Notably, revenue from online marketing has increased by 15% to £19.6 billion, while offline advertising revenue saw a 12% rise to £6.8 billion.

Baidu's AI cloud sales experienced a 5% increase, reaching £4.5 billion. The company's video streaming platform, iQIYI, also witnessed a significant 17% revenue growth, amounting to £7.8 billion. The platform's daily subscribing members have increased by 13.1% to 111.2 million, and the Baidu app's monthly active users have grown by 8% to 677 million.

While Baidu's operating costs have gone up by 32% to £6.3 billion, primarily due to higher marketing expenses, its R&D expenses have remained steady at £6.4 billion.

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