Baidu has introduced two new AI models, Ernie 4.5 and Ernie X1, with the latter boasting performance comparable to DeepSeek R1 at a lower cost and the former showcasing high EQ for understanding memes and satire. Both models offer multimodal capabilities for processing video, images, audio, and text. Despite initial struggles with adoption, Baidu plans to release Ernie 5 later this year with further multimodal improvements.
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Spotify slashed nearly €500M in marketing, R&D spending, and general administrative expenses in 2024, which helped the company swing to a net income of €1.1B (Financial Times)
Spotify reported a net income of €1.1B in 2024 after cutting €500M in marketing, R&D, and administrative expenses, solidifying its position as a market leader in music streaming. The company's strategic cost reductions have given it a significant competitive edge over its competitors, signaling a successful shift towards profitability and sustainability in the industry. Spotify's newfound financial stability reflects its ability to adapt and innovate, showcasing its resilience and market dominance. Full Article
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