Baidu, one of the leading tech companies in China, is making a huge move in the field of artificial intelligence.
Baidu launches 145 million venture fund dedicated to supporting AI-focused startups in China.
This bold move is set to help Baidu enhance its AI capabilities while supporting innovative tech companies in their quest for growth and success.
The launch of this VC fund underscores Baidu’s unwavering commitment to driving technological advancements in China and beyond.
In Baidu is widely considered to be one of the leading AI companies in China. Its AI platform, called DuerOS, has more than 400 million active users and powers a range of products, including smart speakers, cars, and smartphones.
But Baidu’s ambitions extend far beyond consumer products. The company is also using AI to improve healthcare, financial services, and urban planning, among other areas. For example, Baidu has developed an AI-powered system that can detect breast cancer more accurately than human doctors, and it’s working with the Chinese government to use AI to improve traffic flow in cities.
All of this is part of Baidu’s larger vision to become a global leader in AI. As Baidu CEO Robin Li said in a recent interview,
“We believe that AI is going to change the world, and we want to be part of that change.”Robin Li
To achieve this goal, Baidu is taking a multi-pronged approach. It’s hiring top talent from around the world, partnering with leading companies in AI research, and investing in AI-focused startups. In fact, the company recently announced the launch of a new $145 million venture capital fund specifically for AI startups in China.
With all of these efforts, Baidu is positioning itself to be a major player in the AI landscape for years to come.
The launch of the $145 million VC fundThe company has stated that the goal of the fund is to provide financial support to early-stage startups that are working on AI-related technologies, such as machine learning, deep learning, and natural language processing. Baidu Ventures aims to help startups take their innovative ideas to the next level by providing them with the resources and expertise needed to grow and succeed.
The launch of Baidu Ventures follows a series of major investments in AI made by Baidu in recent years. In 2016, the company established an AI lab to focus on research and development in the field.
The following year, Baidu announced plans to invest $1.5 billion in autonomous driving over the next three years. More recently, in January 2020, Baidu unveiled a new AI chip called Kunlun, which is designed for use in cloud computing and data centers.
With the new VC fund, Baidu hopes to take its AI ambitions to the next level and help bring new innovations and breakthroughs to the industry. The company is confident that the fund will attract top talent and ideas and create new opportunities for growth and success in the AI space.