Facing many challenges such as new crown pneumonia epidemic, Baidu intelligent cloud business counter-trend growth. Baidu released unaudited results for the first quarter of 2020 on may 19, beijing time. Revenue exceeded expectations by 22.5 billion yuan in the quarter, with net profit (Non-GAAP) of 3.1 billion yuan, up 219 percent from a year earlier. Financial results show that the smart cloud achieves healthy growth. AI new business is becoming Baidu's strong growth engine.
Robin Li, chairman and CEO of Baidu, said in an internal letter that he saw positive signals in the direction of AI's new business. In response to the new national infrastructure policy, 13 provinces have announced major project investment plans, which is a huge opportunity for Baidu. Baidu has advantages in AI infrastructure such as artificial intelligence and big data. The society's demand for Baidu's AI capability is becoming more and more strong.
(Baidu Summer Cloud Summit on May 18, Baidu CTO Wang Haifeng released Baidu Smart Cloud New Strategy)
Facing the new opportunities brought by the new infrastructure wave, Baidu Intelligent Cloud once again took the lead in introducing new strategies in the industry to better play its AI advantages. At the summer cloud intelligence summit ABC SUMMIT 2020 baidu on may 18, baidu smart cloud formally released a new strategy and architecture. will be
(May 18th, Baidu summer cloud Intelligence Summit, Baidu Intelligent Cloud new business structure debut)
Baidu CTO Wang Haifeng said that the new upgraded Baidu Intelligent Cloud integrated cloud computing, Baidu brain, big data and other Baidu core technology, will become the key force in accelerating the AI industrial production in the new capital construction tide.
In the first quarter of last year, Baidu Intelligent Cloud continued to expand its market share in many sectors such as finance, media and energy, and achieved important cooperation with head partners in various fields. In the financial field, Baidu Intelligent Cloud and Northeast China's first private bank billion bank alliance signed a strategic cooperation agreement, will establish a complete financial intelligence program from IaaS cloud services to SaaS solutions; in the media field, Baidu Intelligent Cloud standard cctv.com project, the two sides will build a AI set with intelligent analysis, intelligent search, intelligent voice, intelligent audit. In the field of energy, Baidu intelligent cloud has successively worked with the two power central enterprises, the State Grid and the southern power grid. Recently, it has signed a strategic cooperation agreement with the central heating industry leading company, Huan Huan technology group, which will strengthen the application of the advanced technology such as artificial intelligence, big data, Internet of things and edge computing in the electric power and thermal industry.
(On May 15, Baidu Smart Cloud and Central Huanhui Strategy Signing Ceremony to Build Smart Heating
Baidu AI has provided strong technical support for anti epidemic actions of all walks of life through intelligent cloud, and accelerated the landing of Baidu AI services. Baidu Intelligent Cloud new strategy and new framework, so that cloud and AI more synergy, and then achieve high-quality, large-scale growth and sustainable and healthy development. Baidu AI commercialization will meet the challenge.