The research and consulting group Omdia, focused on the Technology Industry, released a report indicating that the Global Generative AI market is still in its infancy. According to the latest forecasts, this market will grow five times in five years, increasing from 14.6 billion USD in 2024 to 72.8 billion USD in 2029. The top application areas include Consumer, Enterprise Services, Retail Trade, Media Entertainment, and Medical Care.

The report mentions that Baidu (09888.HK) Smart Cloud has supported a wide range of developers and enterprises in multimodal Generative AI, from generative AI model vendors like Shengshu Technology to system integrators like Ruantong Power and large enterprises like NIO Automobiles (09866.HK), assisting them in promoting the application of multimodal Generative AI. At the same time, Baidu Smart Cloud's strong developer Community actively interacts with users, which also helps in continuously optimizing its products and services.