On February 18, Baidu released the 2020 full year and Q4 financial report, presenting revenue of RMB 107.1 Billion, and its net profit of RMB 22 billion. Formerly constrained by decline in advertising revenue, the company has re-emerged as fierce competitor in the field of AI, spearheaded with three major applications of DuerOS voice technology platform, Apollo autonomous driving open platform and Baidu Smart Cloud powered by Baidu Brain 5.0. In the financial report, the company scrapped its positioning as an “Internet platform centred on search engines, knowledge, and information” and replaced it with “AI ecosystem company.” One month prior to the number release, Baidu had announced the establishment of a smart car subsidiary and reached a strategic cooperation with Chinese automotive giant Geely Group.
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