AI has become a new driving force for growth. Baidu’s net profit in 2023 surged 39% to 28.7 billion yuan, and its full-year performance exceeded expectations.

　　On February 28, Baidu released its fourth quarter and full-year financial report for 2023, showing that total revenue in 2023 reached 134.598 billion yuan, and net profit (non-GAAP) attributable to Baidu was 28.7 billion yuan, with a year-on-year growth rate of 39%; IV. Quarterly revenue was 34.951 billion yuan, and net profit attributable to Baidu (non-GAAP) was 7.755 billion yuan, a year-on-year increase of 44%.

In 2023, Baidu's full-year revenue and profit exceeded market expectations.

　　AI has become Baidu’s new growth driver.

The financial report shows that Baidu Core revenue in 2023 is 103.465 billion yuan, and the net profit attributable to Baidu Core (non-GAAP) is 27.4 billion yuan, a year-on-year increase of 38%; in December 2023, the number of monthly active users of Baidu App reached 667 million.

As of January 2, 2024, the total service volume of Luobo Kuaipao exceeded 5 million orders; in the fourth quarter, the number of Luobo Kuaipao service orders increased by 49% year-on-year to 839,000 orders, and the proportion of fully driverless orders in Wuhan reached 45%.

　　Robin Li, founder, chairman and CEO of Baidu, said: "In 2023, we have made significant progress in iterating the Wenxin Big Model and Wenxin Yiyan, restructuring products and services, and commercialization. At the same time, Baidu's core business remains Resilience and healthy development. Looking forward, we will continue to invest firmly in generative AI and basic models to lay the foundation for creating new growth engines."

　　Baidu Chief Financial Officer Luo Rong said: "In the past year, we have continued to focus on improving operational efficiency; in 2024, we will continue to improve operational efficiency and achieve high-quality growth."

Wenxin’s large model usage ranks first in China. Cooperation with China’s Samsung, Honor, etc.

　　In 2023, both Wenxin Yiyan usage and Wenxin Big Model API calls will maintain rapid growth.

Public data shows that as of the end of December 2023, the number of Wenxin Yiyan users has exceeded 100 million; Robin Li said in his speech last November that there are more than 200 large models in China, "Wenxin large models have more calls than these 200 The combined call volume of multiple large models is even more.”

　　Wenxin large model brings new performance growth space to Baidu.

In the fourth quarter, China’s leading companies such as Samsung, Honor, and Autohome all reached cooperation with Baidu.

Take Samsung as an example. Its latest flagship mobile phone Galaxy S24 series integrates multiple capabilities, including calls, translations, smart summaries, etc. Especially the “Search in Circles” function has attracted much attention. Users only need to search text and pictures. You can get precise search results by performing simple gestures such as drawing circles and drawing lines.

　　At the same time, the application of Wenxin large model technology and the ecology of the flying paddle community form a "flywheel effect".

The financial report shows that Fei Paddle has gathered 10.7 million developers, served 235,000 enterprises and institutions, and created 860,000 models based on Fei Paddle.

In the Feipiao Galaxy community, there are more than 4,000 innovative applications based on Wen Xinyiyan, covering many scenarios such as marketing, education and training, and smart office.

AI reconstruction unleashes business potential with annual online marketing revenue of 75.1 billion

　　In the past year, Baidu has comprehensively promoted the AI-native reconstruction of its products and services, launching AI-native applications such as Baidu New Search, Baidu New Library, and Wenxin Yiyan App, as well as AI marketing tools such as Qingge and Brand Intelligence.

The financial report shows that in December 2023, the monthly active users of Baidu App reached 667 million, the annual online marketing revenue in 2023 was 75.1 billion yuan, and the online marketing revenue in the fourth quarter was 19.2 billion yuan.

　　Many companies such as Feihe have begun to use AI native marketing tools based on the reconstruction of Wenxin's large model.

Taking Feihe, China's number one milk powder brand, as an example, the "Feihe Official Intelligent Assistant" built based on the brand's intelligent agent can provide users with more accurate and personalized services through multiple rounds of dialogue.

　　Baidu Wenku has been restructured into a "one-stop AI content creation platform" that provides multi-content generation and editing such as intelligent documents, PPT, mind maps, research reports, etc., as well as AI capabilities such as multi-language document summary Q&A and merged reference generation.

Combined with the full-scenario application of natural language instructions, it greatly improves the efficiency and quality of creation.

According to public data, the number of Baidu Wenku AI users has exceeded 80 million, and new features have been used more than 700 million times.

A report from the National Industrial Information Security Center shows that in the field of PPT generation, Baidu Wenku ranks first with a score of 86, and ranks first in many indicators such as generation quality and intention understanding.

The inference cost of Wenxin's large model is reduced to 1%. Two major tools are launched on the intelligent cloud to improve development efficiency.

　　Thanks to the layer-by-layer optimization of Baidu’s unique four-layer AI architecture, the inference cost of Wenxin’s large model continues to decrease, and the training efficiency continues to improve.

Robin Li previously revealed at the event that from March to the end of December 2023, Wenxin Large Model has basically reduced the inference cost to 1% of the original value.

At the same time, through the collaborative optimization of Feipiao and Wenxin, the average weekly training efficiency of the model exceeds 98%.

　　In order to further improve the development efficiency of AI native applications and models, Baidu Smart Cloud launched Qianfan AppBuilder and Qianfan ModelBuilder.

As an AI native application development workbench, AppBuilder not only provides developers with a wealth of development kits and application components, but also provides a low-code state with a lower threshold. Users who do not understand code can quickly build their own AI through natural language. Native application.

　　Qianfan ModelBuilder brings a complete set of large model development tool chains to support the development and fine-tuning of proprietary models.

At present, Qianfan ModelBuilder has fine-tuned a total of 10,000 models, providing developers with a complete large model solution using proprietary models and basic large models.