The company echoed Li’s statement on Chinese social media.
“Someone ‘threw cold water’ at us at today’s AI conference,” it said in a post on Chinese social network Weibo. “There may be all kinds of unexpected turns on our path forward in AI development, but we won’t change our mind and will keep going forward.”
Baidu has been at the forefront of China’s artificial intelligence push and has invested billions into AI research including the development of self-driving cars.
Although the company remains China’s dominant search engine, accounting for some 70% of the market share, its performance has fallen behind major rivals such as Tencent and Alibaba in recent months.
Baidu reported a net loss of 327 million yuan ($47 million) for the quarter ended March due to a slump in its main online advertising business. It was the company’s first loss since it went public in 2005, and compared with a profit of 6.7 billion yuan during the same period last year.
Shares in Baidu are down 25% so far this year.
This content was originally published here.