As China’s largest supplier of AI public cloud companies, Baidu is positioned to drive the clever transformation of industries
BEIJING, July 15, 2020 /PRNewswire/ — Baidu, Inc. (NASDAQ: BIDU) boasts the very best market share and highest variety of invocations in China’s fast-growing AI public cloud companies market, a current report from International Data Corporation (IDC) confirmed, reflecting the corporate’s steady investments in constructing core AI applied sciences and new infrastructure to energy industrial transformation.
The marketplace for AI cloud companies in China was valued at $166 million USD in 2019, with Baidu Cloud holding the most important share, in response to the IDC report titled “China’s Artificial Intelligence Cloud Services Market Research Report (2019)”. IDC says AI capabilities have turn into a key consideration for customers when selecting cloud companies distributors, establishing the marketplace for super development. The analysis agency predicts that China’s AI cloud companies market will see a compound annual development fee of 93.6% between 2018 and 2024.
According to the report, along with main in market share and invocations, Baidu Cloud presents probably the most total AI merchandise and AI capabilities. Baidu additionally has probably the most capabilities in pure language processing (NLP) and robust positions in clever voice, facial and physique recognition, conversational AI, and machine studying. Baidu Cloud can also be the one vendor to have already commercialized NLP at scale as a part of its cloud companies, with most different distributors not charging charges for NLP capabilities till this 12 months. In complete, Baidu Cloud has opened up greater than 250 AI capabilities that service 1.9 million builders, who cumulatively use these capabilities 1 trillion instances per day on common.
“As an AI platform company that is focused on empowering other organizations, Baidu hopes that every enterprise, no matter how small, is able to use capabilities and services provided by our platforms, just like they were water and electricity, to quickly and easily realize intelligent transformation,” stated Robin Li, the co-founder, chairman, and chief government officer of Baidu, throughout a speech on the 2020 World Artificial Intelligence Conference (WAIC) on July 9.
“Baidu Cloud relies on AI capabilities and platforms for AI development — our two large core advantages — and has become one of the main drivers of industrial AI and a leading cloud service provider.”
Baidu views AI cloud companies as a key pillar of latest infrastructure that can speed up the clever transformation of varied industries. In May, Baidu launched the “AI Middle Office” and “Knowledge Middle Office”, two cloud-based platforms that cut back the edge for corporations to use AI know-how. The two platforms have already been used for AI functions in vitality, finance, and different industries. Due to the pandemic, an increasing number of corporations throughout industries are decided to undertake AI know-how to extend effectivity and competitiveness, which is contributing to the fast-growth in AI cloud companies.
Over the previous week, Baidu Cloud secured three strategic agreements to use AI in varied industries. Baidu Cloud and Shanghai Pudong Development Bank (SPDB) reached an settlement to deepen collaboration on making use of AI within the finance trade, whereas Baidu Cloud and China National Building Material Group agreed to collaborate on good logistics, the digital transformation of mining, good factories, and AI-powered knowledge facilities, amongst others. Baidu Cloud and the People’s Government of Shanghai Pudong New Area additionally signed a strategic cooperation framework settlement to determine the nation’s first Baidu PaddlePaddle AI trade empowerment heart and collaborate on clever city administration. As a part of its investments in constructing new infrastructure, Baidu additionally not too long ago introduced plans to deploy 5 million clever cloud servers by 2030 and prepare 5 million AI specialists within the subsequent 5 years.
Haifeng Wang, Baidu’s chief know-how officer, stated that new infrastructure would be the kinetic vitality for China’s financial growth within the subsequent few many years. Emerging applied sciences like AI, cloud computing, 5G, the Internet of Things, and blockchain will present key assist for all industries.
Going ahead, Baidu will pace up the rollout of latest infrastructure, drawing on its years of AI know-how achievements and expertise to speed up the appliance of AI and understand a really clever financial system.
Baidu, Inc. is a number one search engine, information and data centered Internet platform and AI firm. The Company’s mission is to make the difficult world easier by means of know-how. Baidu’s ADSs commerce on the NASDAQ Global Select Market underneath the image “BIDU”. Currently, ten ADSs symbolize one Class A odd share.