Chinese news reported that Baichuan AI has finished a Series A funding round, raising around a total $693 Million.
Before this, in October 2023, Baichuan AI had revealed the details of its Series A1 financing round. Among the investors were a number of elite investment institutions and IT behemoths including Alibaba, Tencent, and Xiaomi.
Beijing Artificial Intelligence Industry Investment Fund, Shanghai Artificial Intelligence Industry Investment Fund, and Shenzhen Capital Group are among the state-backed industry investment funds that company received investments from in the Series A financing round, in addition to the previously mentioned institutions.
According to an insider, It is now valued at 20 billion RMB following the conclusion of its Series A funding round. The business plans to launch its Series B fundraising round at this valuation.
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Sogou, Wang Xiaochuan’s prior startup, was founded during severe search engine rivalry and had to balance reality and vision from the start. After forming Baichuan, Wang Xiaochuan declared a dual-drive development plan of “super model + super application” to develop AGI and specialised situations.
Baichuan implements technologies and applications quickly. It has released 12 major models, including Baichuan7B/13B, Baichuan2-192K, Baichuan-NPC, Baichuan 4, etc., in open-source and closed-source domains, since its founding.
They introduced “Bai Xiaoying,” an AI assistant with multi-step search, directional search, and more, in May. This product competes in the 2024 To C AI products race.
Baichuan considers the AI helper a transitional product. Baichuan’s medical focus sets them apart from other significant model competitors.
“Medicine is the jewel in the crown of large models,” Wang Xiaochuan has repeatedly stated in public. He believes that after breakthroughs are made in AI medical applications, the model size can be expanded based on real needs, the model’s capabilities can be improved, and then the upgraded model can be used to feed back into applications.
It has made significant progress in applying large models to medicine this year. Baichuan 3 outperformed GPT-4 in various authoritative medical evaluation tasks in January.
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Company released an AI health consultant beta at the World AI Conference. Like a long-time general practitioner, it can talk to people, gather enough symptom data, and offer a full diagnosis and medicine recommendation.
Medicine is also a direction that is receiving a lot of attention globally for the application of large models. Geoffrey Hinton said, one of the three AI giants, mentioned in an interview in May this year that “medicine will be one of the most important fields of AI application.” He believes that if AI surpasses humans in some tasks, people could potentially have three doctors per person.
It has rated the AI in medicine technical development plan L0-L5 against autonomous driving. AI automatically offers treatment methods under certain conditions, with doctors verifying critical judgements. They believe current technology can reach L3. Due to high medical demand, it can go to AGI and ASI stages and produce a life-size model.
About Baichuan AI
China’s “Baichuan Intelligence” is a corporation that creates and offers generic AI services. They are approaching the era of broad artificial intelligence, and the amazing Internet revolution is not yet over
