This will be driven by the use of AI by healthcare providers and payers, which is forecast to reach $2.9bn by 2024. , , A Shark Tank billionaire says it will create the worlds first trillionaire, 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. More on that in a second, but Im amazed at how the super-rich are reacting to this technology: When so many successful people are all saying the same thing, it usually pays to listen. I believe we are in the right place at } In January, Baidu CEO Robin Li warned that winter is coming referring to the troubles from a slowing economy and the fallout from a prolonged US-China trade war. . Photo: AFP Baidu chief executive Robin Li has revealed his vision for the future of mobility - a vehicle he . The company has been incubating the idea over the past six months, and CEO Robin Li is personally overseeing its development. The Motley Fool owns shares of and recommends Amazon and Baidu. The development of this AI ecosystem could expand Baidu's search engine beyond PCs and mobile devices, which would widen its moat against Tencent, which is pulling away users with WeChat's Mini Programs and integrated searches, and Alibaba, which turned its online marketplaces into China's largest digital advertising platforms. By implementing smart transportation systems through intelligent vehicles and roads, Baidu is revolutionizing the industry by promoting safer and greener travel, fostering a lower carbon lifestyle and creating immense social value. These days, Tai Po is one of Hong Kong's most agreeable districts. /*Home Page Sidebar MPU (300x250) */ The answer is a radical breakthrough thatWiredsays is the rocket fuel of the AI.More on that in a second, but Im amazed at how the super-rich are reacting to this technology: A Shark Tank billionaire says it will create the worlds firsttrillionaire, Baidu CEO Robin Li pivoted his entire company which includes his $8.7 billionstake -- to take advantage, Even super investor Warren Buffett says that it will have a "hugely beneficial social effect. 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". Because inside youll discover why some mega-rich investors are rushing to cash-in on this tech trend. A Magazine for Scholarly, Literary, Political, Economic and Religious Activities. Artificial intelligence will not destroy human beings but will give people eternal life Everything every person has said and done, even peoples memories, emotions and consciousness can be digitally stored on network disks or the cloud. Sign up for free newsletters and get more CNBC delivered to your inbox. He can often be sighted at tech conferences with a strong coffee in one hand and a laptop in the other. The company would be a standalone entity rather than a subsidiary of Baidu, the source said. Maybe BB? Hongkong-handover-10years-economy This picture taken 14 May, 2007 shows 78-year-old Tai Yum-po sitting on his bed in a "cage dwelling", in one of the. The increasing scrutiny from the US over Chinese influence in Western companies and infrastructure, leading to an increasing number of Chinese firms being added to an entity list, may reduce such collaborations. That algorithm is designed to identify the genetic make-up of viruses, which could help develop a vaccine. By signing up, you agree to our privacy policy. googletag.defineSlot('/58361164/TheBlockMPUv2', [300, 250], 'div-gpt-ad-1489592495402-0').addService(googletag.pubads()); Get this delivered to your inbox, and more info about our products and services. And if youre an investor, I havent even told you the best part Because one remarkable company is absolutely dominating this exploding market. _ml = window._ml || {}; Chinas biggest search engine Baidu is optimistic about its investments in artificial intelligence (AI) despite the companys recent financial troubles and increasing competition from domestic competitors. Context: In 2017, the State Council, Chinas cabinet, set out goals aimed at making the country a world leader in AI by 2030. Robin Li, CEO and founder of Chinese internet giant Baidu, says he has realised a lifelong dream by entering the field of AI-enabled structure-based drug discovery (SBDD). gtag('config', 'UA-23827491-15'); Does anyone know what company this could be? Billionaire and Baidu CEO Robin Li on Thursday . All investing involves risk of loss. The decline of Baidu's ad business forced the company to rely more heavily on iQiyi, the video streaming unit it spun off in an IPO in 2018, for revenue growth. It might seem odd for Baidu to invest money in AI-powered biotech tools considering the challenges it's facing. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. }); And with everything Im hearing coming out of Silicon Valley and Wall Street… I dont feel like Im very far out on a limb with this bold prediction: Five years from now, youll probably wish youd bought this stock. The technical storage or access that is used exclusively for statistical purposes. node.parentNode.insertBefore(gads, node); Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Chinas growth and influence is hard to ignore, especially in AI. googletag.cmd = googletag.cmd || []; BioMap is an AI-driven research and development platform focusing on precision medicine, co-founded by Baidu CEO Robin Li and former Baidu Ventures CEO Wei Liu in September 2020. listen. One or even 100 companies may not be enough. That's 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 . GUANGZHOU, China Chinese internet search giant Baidu is in discussions with investors to raise up to $2 billion over three years for a new biotech company, CNBC has confirmed. /*articlepage mpu*/ More by Chris Udemans. This year, Baidus stock price has dropped 36 percent. As of March 2022, his net worth was estimated at US$8.5 billion. Baidu is also expanding its influence and sharing its AI expertise globally. The content has not been edited Analysts expect Baidu's revenue to rise less than 1% this year but for cost-cutting measures to boost its earnings by 6%. gads.src = (useSSL ? Christopher Udemans is TechNode's former Shanghai-based data and graphics reporter. In July, AI News reported that Baidu will help develop Intels Nervana neural processor. fact,Bezos argues that its hard to overstate the impact of this 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. googletag.pubads().enableSingleRequest(); The answer is a radical breakthrough that Wired says is the rocket fuel of the AI.. At the time, Li applied for a job in Mercks research department and received an offer. Reserved. The CEO said he is optimistic about AI's effects on society, explaining that he expects the technology to improve people's lives. Because inside youll discover why some mega-rich investors are rushing to cash-in on this tech trend. Hiring activity related to environmental sustainability increased by 17% in the technology industry in Q3 2022, EU proposes new regulations for generative AI, AI infrastructure startup Pinecone draws $100m in funding, Russian court fines Wikipedia for seventh time over Ukraine invasion article. 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. The incident happened at the Baidu Create 2019 . And you are going to want to see this report before you invest $1 on any tech company. Learn More. You think our visionary leader and CEO Mr. Ash Mufareh is taking us in the right direction with our AI with heart? _ml.us.ind && ga(gaSet, 'dimension12', _ml.us.ind); googletag.defineSlot('/58361164/TheBlock', [300, 600], 'div-gpt-ad-1489572146069-0').addService(googletag.pubads()); We hope to build an open biocomputing innovation ecosystem between scientists and entrepreneurs to explore the vast no mans land of life sciences.. } Those growth rates are anemic compared to Baidu's ecosystem rivals Tencent and Alibaba, which are both expected to generate double-digit revenue and earnings growth this year. }); The Motley Fool has adisclosure policy. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. The company posted its first quarterly loss in the second quarter since it went public in the US in 2005. Data is a real-time snapshot *Data is delayed at least 15 minutes. Li used the Game of Thrones phrase that "winter is coming" following a first-quarter loss. (In 1st place is Jack Ma, the founder and CEO of Alibaba with $36.2 billion.) googletag.enableServices(); The CEO said he is optimistic about AIs effects on society, explaining that he expects the technology to improve peoples lives. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. Amazons Jeff Bezos surprised investors recently when he revealed that one emerging technology is the key to Amazons future success. enable: true In this regard, AI solutions are proven to be highly dependable in providing health monitoring, rehabilitation care, emergency aid, emotional support and meal or transport assistance for elders. Tags: ai, artificial intelligence, baidu, China, chinese, Featured, robin li, wic. Chinese tech giant Baidu (BIDU 1.35%) is in talks with interested parties to invest up to $2 billion in a biotech start-up over the next three years, according to Reuters. She said I wouldnt be able to use my computing knowledge, he explained. 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. The company would be a standalone entity rather than a subsidiary of Baidu, said a person close to the matter. on that in a second, but Im amazed at how the super-rich are reacting to this + cd.getDate() + cd.getMonth() + cd.getFullYear(); While this is definitely impressive, he's not the richest man in China. }; 4 Top Emerging Technologies. 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. Li also used his speech to announce that his new firm BioMap has now received funding of 1bn renminbi (approximately US$156m). This year, Baidu's stock price has dropped 36 percent. Baidu also ranks as the second largest. And the good news is that you can find out all about this company and this incredible technology today. By clicking any link on this page you are giving your consent for us to set cookies. The start-up, which has yet to be named, will reportedly use Baidu's artificial intelligence (AI) tools to develop new drugs, diagnose tumors, and produce other "biological innovations." Doesnt sound like you! so many successful people are all saying the same thing, it usually pays to Not consenting or withdrawing consent, may adversely affect certain features and functions. When there are new problems, people can talk to future generations across time and space via technology.. 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. in the world could be worth 35 Amazons? var googletag = googletag || {}; var useSSL = 'https:' == document.location.protocol; //ccm tag As China has made high-tech a pillar of development until at least 2035, Baidu will play a central role. Robin Li, co-founder of the firm, was mid-presentation when a man walked on to the stage, grabbed his arm and emptied a bottle of water on his head. 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. _ml.us.ins && _ml.us.ins.length > 0 && ga(gaSet, 'dimension9', _ml.us.ins[0]); Latest news and trends about tech in China. Baidu is also rapidly developing a new intelligent vehicle, and we estimate that everyone will be able to experience the arrival of new species, 'robo-vehicles', in two to three years," he added. Today, the field of biocomputing also has three key indicators that are growing rapidly, which together promote biocomputing to create greater value for mankind, he said. answer is a radical breakthrough thatWiredsays is the rocket fuel Baidu's AI efforts are impressive, especially in the fields of driverless cars and language processing, but they won't generate meaningful revenue or offset its dependence on ads or iQiyi anytime soon. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. BEIJING, Aug. 18, 2021 /PRNewswire/ -- Today, Baidu held its annual flagship technology conference, Baidu World 2021, where Co-founder and CEO Robin Li unveiled his vision for mobility of the . if (typeof ga != 'undefined' && _ml.us) { Baidu CEO Robin Li pivoted pivoted his entire company- which includes $12.9 Million stake to take advantage and Warren Buffet says it will have a "hugely beneficial social effect. The companies said that their collaboration will be based on the AI-powered biological computing engine from BioMap combined with the structure-based drug discovery (SBDD) platform from Viva Biotech. googletag.cmd.push(function () { position: inherit; googletag.cmd.push(function() { ONPASSIVE is an AI Tech company that builds fully autonomous products using the latest technologies for our global customer base. In position:relative; For more information, please see our 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 . Bioplastics for a Circular Economy: In 2014 alone, industry generated 311 million metric tons of plastics, an amount expected to triple by 2050.Yet less than 15% of it is recycled . John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fools board of directors. _ml.us.pc && _ml.us.pc.length > 0 && ga(gaSet, 'dimension5', _ml.us.pc[0]); By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Li's net worth is particularly remarkable when you consider . The biotech company would focus on using artificial intelligence (AI) and computing to create new drugs and make early-stage diagnoses of diseases such as cancer, the person said. Biodegradable plastics can ease this problem, contributing to the goal of a . Interested in hearing industry leaders discuss subjects like this? Thanks to Baidu's success, Robin Li has amassed an astounding $16.3 billion dollar. 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. Even super investor Warren Buffett says that it will have a "hugely beneficial social effect". The biotech company will try to use artificial intelligence (AI) and computing to develop drugs and make early-stage diagnoses of diseases such as cancer, the person said. But if you want to get in on this opportunity, I encourage you to act quickly. In light of this year's WAIC theme, "Intelligent Connectivity, Inspirational Cities", Li contended that the value of AI to human society extends far beyond economic growth, stating his belief that the social value of AI deeply correlates with the human desire for a better life. ONPASSIVE - The Future Of Internet. Supreme Court rules against immigrants in temporary status seeking green cards. Economist blames foolish policy choices for economic woes. The best part is its one remarkable company dominating this exploding market. The Canadian fools may be using a similar pitch, but this one about a critical component from a company 1/6th the size of Amazon is still for NVIDIA. googletag.cmd = googletag.cmd || []; 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. This site uses Akismet to reduce spam.