Modelling A.I. in Economics

Baidu's AI Fund to Back Start-Ups in China and Around the World

Chinese search giant Baidu Inc (BIDU.O) said on Tuesday it will set up a venture capital fund of 1 billion yuan ($145 million) to back start-ups focused on content generated by artificial intelligence (AI).

The fund, called Baidu Ventures, will invest in AI-related start-ups in China and around the world, with a focus on areas such as natural language processing, computer vision, and speech recognition.

"We believe that AI is the next big wave of innovation, and we want to be at the forefront of this revolution," said Baidu CEO Robin Li. "By investing in AI start-ups, we can help to accelerate the development of this technology and bring its benefits to a wider range of people."

Baidu is not the only Chinese tech company that is investing in AI start-ups. In recent years, Alibaba Group Holding Ltd (BABA.N) and Tencent Holdings Ltd (0700.HK) have also set up venture capital funds to invest in AI-related businesses.

The growing interest in AI from Chinese tech companies is a sign of the growing importance of this technology in the global economy. AI is already being used in a wide range of industries, from healthcare to finance to manufacturing, and its potential applications are only limited by our imagination.

Baidu's investment in AI start-ups is a sign that the company is committed to leading the way in this field. With its deep expertise in AI and its vast resources, Baidu is well-positioned to help shape the future of this technology.

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