BRIEF: Baidu CEO predicts only 1% of AI companies will survive

Baidu Inc. (BIDU.US; 9888.HK) Chairman and CEO Robin Li, speaking at the Harvard Business Review’s Future of Business conference, predicted that only 1% of companies will ultimately survive and create huge value. He said that as with all tech waves in history, the current AI bubble will eventually burst after an initial period of euphoria.

Baidu announced in April this year that its AI large language model (LLM) Ernie Bot has more than 200 million users, and was upgraded in September to meet the needs of users in search, content creation and for chatting. Baidu’s Hong Kong-listed shares rose 1.4% to HK$89.55 in early Wednesday morning trade.

By A. Au

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