Enter the code you received via email to sign in, or sign in using a password. Robin Li | Stanford eCorner Even super investor Warren Buffett says that it will have a "hugely beneficial social effect". ga('create', 'UA-23827491-15', 'auto'); The CEO of ARK Investments further.We think it could approach $17 trillion in market cap- which Travis, none of those are. Why Is Baidu Investing in an AI-Powered Biotech Start-Up? CEO says this is worth 35 Amazons - USA Today *Average returns of all recommendations since inception. 'https:' : 'http:') + '//www.googletagservices.com/tag/js/gpt.js'; 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. // Currently disabled var useSSL = 'https:' == document.location.protocol; googletag.cmd.push(function() { The technical storage or access that is used exclusively for statistical purposes. To make the world smarter, happier, and richer. m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) The entire strategy of his company needed to change, and he revamped his enterprise from a back-end search utility to a front-end, consumer-focused provider. googletag.cmd = googletag.cmd || []; Li was speaking at the plenary session of the sixth World Internet Conference (WIC) in Wuzhen, east Chinas Zhejiang province. Machines can learn peoples way of thinking., Li as cited in the South China Morning Post. AI is the Transformative Force Revolutionizing Future Human Development He can often be sighted at tech conferences with a strong coffee in one hand and a laptop in the other. 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's move comes as China's technology companies try to boost their presence in healthcare, a move accelerated by the coronavirus pandemic. Baidu has since not only been asking employees to fly economy rather than business, and not to stay in five-star hotels, but even to reduce the number of paper towels and cups theyre using in the office. It might seem odd for Baidu to invest money in AI-powered biotech tools considering the challenges it's facing. _ml.informer = { CEO Says This Is Worth 35 Amazons | The Motley Fool Australia Chinese search giant Baidu on Thursday . })(); The company has since implemented a number of cost-cutting measures in an attempt to mitigate risks to its business. Amazons Jeff Bezos surprised investors recently when he revealed that one emerging technology is the key to Amazons future success. Fool is talking about a Canadian company. In fact, Bezos argues that its hard to overstate the impact of this game-changing technology. CEO Says This Is Worth 35 Amazons googletag.defineSlot('/58361164/TheBlock-MPU-News', [300, 250], 'div-gpt-ad-1489408127638-0').addService(googletag.pubads()); (function(i,s,o,g,r,a,m){i['GoogleAnalyticsObject']=r;i[r]=i[r]||function(){ googletag.enableServices(); Baidu CEO Engineers $66 Billion Comeback After Missteps The CEO of ARK Investments takes Bezos further: We think [it] could approach $17 trillion in market cap which would be 35 Amazons.. Supreme Court rules against immigrants in temporary status seeking green cards. That foothold could also convince more digital healthcare companies to launch integrated Mini Programs for the Baidu App -- which competes against WeChat's larger Mini Programs platform. Machines can learn peoples way of thinking. Baidu CEO optimistic about company's AI plans despite - TechNode Policy Factory C-Suite Advisory August 5, 2019. I believe we are in the right place at All investing involves risk of loss. _ml.us.ins && _ml.us.ins.length > 0 && ga(gaSet, 'dimension9', _ml.us.ins[0]); remarkable company is absolutely dominating this exploding market. And you are going to want to see this report before you invest $1 on any tech company. Privacy Policy. 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. Baidu CEO Robin Li says he remains bullish on his company's AI investments despite recent troubles. var node = document.getElementsByTagName('script')[0]; googletag.enableServices(); var gads = document.createElement('script'); Required fields are marked *. googletag.defineSlot('/58361164/TheBlock-Leaderboard-ROS', [728, 90], 'div-gpt-ad-1489409100207-0').addService(googletag.pubads()); Smart transportation solutions have been shown to facilitate a 15% improvement in traffic efficiency, which translates into a 2.4% GDP growth, demonstrating considerable commercial value to society. She said I wouldnt be able to use my computing knowledge, he explained. At the time, Li applied for a job in Mercks research department and received an offer. And if youre an investor, I havent even told you the best part Because one remarkable company is absolutely dominating this exploding market. Why it matters: Baidu has had a rollercoaster of a year, including seeing its share price fall by 36% year to date. By clicking any link on this page you are giving your consent for us to set cookies. A recent Thematic report states: Advances in AI and Machine Learning will significantly lower the cost of developing and testing new biotech products, and the leading players in this sector are all making significant investments in data science.. Latest news and trends about tech in China. As of March 2022, his net worth was estimated at US$8.5 billion. Baidu CEO Robin Li says he remains bullish on his companys AI investments despite recent troubles. 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 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. Baidu is traded on the NASDAQ Global Select Market under the symbol "BIDU", and on the main board of the Hong Kong Stock Exchange under the stock code "9888". Chinas State Council released a roadmap two years ago aimed at making the country a global AI leader by 2030 as it ramps up competition with the US. Baidu controls over70% of China's online search market, according to StatCounter. Robin Li, chief executive officer of Baidu. Last month, the company launched public trials in the Hunan province consisting of 45 autonomous taxis. _ml.us.ind && ga(gaSet, 'dimension12', _ml.us.ind); Cookie Notice Baidu is also expanding its influence and sharing its AI expertise globally. Robin Li is the co-founder, Chairman and Chief Executive Officer of Baidu. _ml.us.fa && ga(gaSet, 'dimension8', _ml.us.fa ); This is a discussion topic or guest posting submitted 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. Save my name, email, and website in this browser for the next time I comment. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. This wouldn't be Baidu's first step into the AI-powered healthcare market --earlier this year, it open-sourced its RNA prediction algorithm LinearFold to analyze viruses and develop vaccines. listen. gtag('config', 'AW-436779939'); Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. _ml.us.sn && ga(gaSet, 'dimension6', _ml.us.sn); WHAT Nonetheless, Baidu is pushing forward with its AI ambitions, including its costly autonomous driving program after launching a robotaxi pilot in central China. Paying the transaction fee is not required, but it directs more money in support of our mission. first publisher to tease NVIDIA, back in 2014. That algorithm is designed to identify the genetic make-up of viruses, which could help develop a vaccine. Hackfest Hackathon News & Online Platform. ONPASSIVE brings in a competitive advantage, innovation, and fresh perspectives to business and technology challenges. })(); Li used the Game of Thrones phrase that "winter is coming" following a first-quarter loss. Files Its Annual Report on Form 20-F, Baidu's chief says technological advancements can spur the gradual restoration of humanity to become a low-carbon society, The importance of AI extends beyond economic growth, its true contribution towards society is the creation of social value, Baidu to expand its Apollo Go robotaxi ride-hailing services and roll out new species robo-vehicle in the next two to three years. The Lis main business, Baidu, has clashed with the Chinese authorities in recent times. Context: In 2017, the State Council, Chinas cabinet, set out goals aimed at making the country a world leader in AI by 2030. The _ml.us.edu && ga(gaSet, 'dimension11', _ml.us.edu ); For more information, read our disclaimer and privacy policy. SHANGHAI, July 8, 2021 /PRNewswire/ -- Robin Li, the Co-founder and CEO of Baidu, Inc. (NASDAQ:BIDU and HKEX:9888), today said that AI will undoubtedly become the transformative force . In July, AI News reported that Baidu will help develop Intels Nervana neural processor. I met with Mr. Ash late last year and asked him directly, What portion of Maybe BB? ga('send', 'pageview'); These three indicators are: the rapid growth of data brought by genome research, the rapid accumulation of knowledge in the process of new drug development, and the proliferation of machine learning and algorithms., According to GlobalDatas thematic research, technology has and will increasingly play a fundamental role in helping the healthcare sector. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is 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. fact,Bezos argues that its hard to overstate the impact of this Learn how your comment data is processed. }); "Amazons Jeff Bezossurprised investors recently when he revealed that one emerging technology is the key to Amazons future success.In fact,Bezos argues that its hard to overstate the impact of this game-changing technology. Invest better with The Motley Fool. googletag.defineSlot('/58361164/ai-news-MPU-(300x250)2-Middle', [300, 250], 'div-gpt-ad-1597413789574-0').addService(googletag.pubads()); Currently, one ADS represents eight Class A ordinary shares. You think our visionary leader and CEO Mr. Ash Mufareh is taking us in the right direction with our AI with heart? Tai Po | Hong Kong Tourism Board The company . 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 treatments for age-related diseases, and Verily, which develops healthcare-related AI services, medical devices, and wearable devices. With a small team, TechNode provides timely news and thoughtfully researched articles for worldwide readers interested in learning more about the Chinese tech industry.
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