China's Baidu reveals first revenue from AI chatbot Ernie
Feb 28, 2024 - asia.nikkei.com
Chinese search engine leader, Baidu, has started generating revenue from its artificial intelligence (AI) service, Ernie Bot. The company reported earnings of "several hundred million yuan" in Q4, primarily from improvements in ad technology and assisting companies in building their own models. Baidu is seeking to reinvent itself as an AI company amidst a plunge in net profit due to increased R&D spending.
The company's latest AI-powered service, Ernie Bot, is similar to ChatGPT and has begun to contribute to Baidu's revenue stream. Despite the financial downturn, Baidu continues to invest in AI technology, with the aim of maintaining its position as China's top search engine and expanding its influence in the AI industry.
Key takeaways:
Baidu, China's top search engine, has begun to generate revenue from its AI-powered service, Ernie Bot.
The company made several hundred million yuan in Q4 primarily from ad technology improvement and helping companies build their own models.
Baidu is trying to reinvent itself as an AI company amidst a plunge in net profit due to higher R&D spending.
Ernie Bot is a ChatGPT-like service, indicating Baidu's focus on AI and machine learning technologies.
