Baidu, a leading online search giant, is making significant strides in its business and ethical practices. In a recent development, Baidu announced the appointment of Sandy Ran Xu, the CEO of e-commerce giant JD.com, as an independent director on its board, effective from early 2024. Xu’s appointment comes after her promotion to the CEO role at JD.com earlier this year and her assumption of leadership at JD.com’s retail unit.
In addition to strengthening its board, Baidu reported a solid 6% year-on-year revenue growth for the third quarter, totaling 34.4 billion yuan (approximately US$4.8 billion). This growth is primarily attributed to Baidu’s core businesses, excluding its video streaming arm iQiyi, which generated a non-GAAP operating profit of 6.7 billion yuan. This figure surpassed the 5.9 billion yuan estimate by Jefferies, a global investment firm.
Baidu’s commitment to Artificial Intelligence (AI) development is evident in its recent establishment of a technology ethics committee in October. This committee aims to guide technology professionals at Baidu, ensuring ethical practices in the rapidly evolving AI landscape. The move aligns with global concerns about the ethical implications of AI advancements, as expressed by prominent figures like Elon Musk and Sam Altman, as well as regulatory bodies.
China, recognizing the potential risks and benefits of generative AI, issued detailed regulations in July, focusing on promoting healthy content and aligning with core socialist values. Baidu has actively engaged in this area, launching trials of its AI chatbot, Ernie Bot, earlier this year. Ernie Bot, a competitor to Microsoft-backed OpenAI’s ChatGPT, has seen significant user growth, with a user base of 45 million and over 54,000 developers. The chatbot handles millions of queries daily across Baidu’s product range, with over 10,000 enterprises actively using it.
Baidu’s iQiyi also reported positive growth, with a 19% increase in membership services revenue and a 34% rise in online advertising revenue year-on-year. The company’s efforts in large language models (LLMs) and generative chatbots place it in direct competition with other Chinese Big Tech firms and OpenAI’s ChatGPT. Baidu’s co-founder, chairman, and CEO, Robin Li, emphasized the need for more application development initiatives to bring ChatGPT-like services to the market, citing the current efforts as a “huge waste of resources.”
As Baidu continues to advance in AI and technology, its focus on ethical practices and strengthening its leadership team positions it as a key player in the global tech industry.
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