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Baidu launches new AI tools at developer conference

EditorNatashya Angelica
Published 17/04/2024, 01:44 am
BIDU
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SHENZHEN, China - Baidu (NASDAQ:BIDU), Inc. (NASDAQ: BIDU and HKEX: 9888), a global leader in artificial intelligence, introduced a suite of AI models and development toolkits at its Create 2024 Baidu AI Developer Conference today. The new offerings are designed to democratize AI application creation, enabling users with varying levels of technical expertise to participate in AI development.

During the conference, Baidu revealed that its conversational AI bot, ERNIE Bot, has reached 200 million users, and the ERNIE API is processing 200 million queries daily. The company also highlighted the efficiency improvements in ERNIE's training and inference capabilities, which have significantly reduced costs and increased queries per second.

Baidu introduced new additions to the ERNIE model family, including ERNIE 4.0 Tool, which features a code interpreter for managing and analyzing data through natural language. Additionally, lightweight versions of ERNIE, such as ERNIE Speed, ERNIE Lite, and ERNIE Tiny, were announced to offer more agile AI solutions.

To further support developers, Baidu presented three AI development toolkits: AgentBuilder, AppBuilder, and ModelBuilder. These toolkits simplify the creation of AI agents, AI-native applications, and customized models, respectively. AgentBuilder, for example, has already enabled the creation of over 30,000 AI agents.

Furthermore, Baidu launched Apollo VTA, a vision foundation model for autonomous driving, which has been trained on data from over 100 million kilometers of test drives. Apollo VTA enhances AI capabilities in detection, tracking, understanding, and map building, aiming to improve the safety and adaptability of autonomous driving systems.

The second Baidu ERNIE Cup Innovation Challenge was also announced, with a Special Prize worth RMB 50 million to incentivize the creation of the next iconic AI product.

Baidu's CEO, Robin Li, emphasized the future of AI development, stating that natural language could become the new programming language, allowing anyone to become a developer and contribute to AI innovation.

The Create 2024 event provided attendees with an immersive AI experience, including industry forums, open classes, and an AI interactive area.

This report is based on a press release statement from Baidu.

InvestingPro Insights

As Baidu (HKEX: 9888) continues to make significant strides in AI with its latest suite of models and toolkits, the company's financial metrics reflect a promising investment profile. Baidu is currently trading at a low earnings multiple, with a P/E Ratio of 6.99, indicating that the company may be undervalued compared to its earnings potential.

This aligns with the InvestingPro Tips, which highlight that the stock is trading at a low revenue valuation multiple as well, with a Price/Book ratio of just 0.76 for the last twelve months as of Q3 2024, suggesting that the market might not be fully recognizing the company's asset value.

Investors looking for stable returns may find Baidu's consistent dividend payments appealing. The company has maintained dividend payments for 24 consecutive years, boasting a dividend yield of 4.8% as of the latest data. This dedication to returning value to shareholders is a testament to Baidu's financial health and commitment to investor interests.

For those interested in exploring further, there are additional InvestingPro Tips available for Baidu, offering deeper insights into the company's performance and potential. With a subscription to InvestingPro, users can access these valuable tips and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. The current list includes 11 additional tips, which can provide investors with a comprehensive overview of Baidu's investment profile.

As Baidu ventures further into AI innovation, its financial solidity and potential for growth remain key factors for investors to consider. For more detailed analysis and real-time metrics, investors are encouraged to explore the full range of InvestingPro Tips at https://www.investing.com/pro/9888.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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