Baidu Ventures made it to the top 5 of 2018's most active firms in venture capital investments, particularly in artificial intelligence (AI) projects. It joins other top firms such as Google Ventures and Intel Capital.
In CB Insights' 2018 Global CVC Report, it was revealed that Baidu Ventures was the top AI investor in 2018. The firm made 13 investments in artificial intelligence, as part of its parent company, Baidu's efforts in exploring business in smart technology.
This is the first time the company made it to the top five list since Google Ventures, Intel Capital, and Salesforce Ventures made it hard for Chinese investment firms to stay above the competition for the past years.
Baidu's AI investments started pouring out a couple of years back and the company is not stopping at any time. Market Watch reported that the company has recorded an estimate of over $1.5 billion in investments in this particular sect within the past two years.
The figures don't come as a surprise since analysts have been predicting that artificial intelligence will make a huge name in the technology sect within the next decade or so. It is expected that the AI retail market will grow at a compound annual growth rate of 40 percent by 2024.
Baidu Ventures is expected to invest further in startups and programs involving AI and smart technology. Within the last couple of months, China's top search engine has been pushing ahead of its rival tech giants in terms of diversifying its project investment focus as it has explored cryptocurrency, cloud computing facilities, and even smart tourism through its deal with Ctrip.
Last week, multiple outlets confirmed that Baidu has launched a blockchain operating system that will support easier decentralized app development. According to Coin Telegraph, the Chinese tech giant built its new OS on its famous ABC (AI, big data, and cloud computing) technology.
Dubbed as the Baidu Blockchain Engine (BBE), the OS is expected to run six major functions namely: "trusted computing environment, high performance, and high throughput, scalable storage, cross-chain trusted interactions, smart contract support, and contract security audits."
Aside from the latest development in cryptocurrency and blockchain ventures, the search engine provider also invested heavily in cloud computing this year. Earlier in February, the firm built its second AI cloud computing center in Baoding City, Hebei Province.
Xinhua reported that the new AI project is part of Baidu's "ACE" program that encourages the Chinese market to explore smart cities and autonomous driving. The first cloud computing center was established in Yangquan City, Shanxi Province.
