Wang Xuepu, Vice President of iQIYI Attends the 2019 CNBC East Tech West: The Convergence of 5G and Al Creates New Opportunities for the Video Streaming Industry
BEIJING, Nov. 20, 2019 /PRNewswire/ -- Wang Xuepu, Vice President of iQIYI Inc., ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, attended the fireside chat "AI: Impact and Potential" of the 2019 CNBC East Tech West, a technology conference that explores the outlook of the technology industry, held in Nansha, Guangzhou province of China between November 18th-20th.
"The age of AI-driven smart entertainment has come and the commercialization of 5G will further push the boundaries of technology," said Wang when talking about iQIYI's outlook on innovative technology. "The convergence of 5G and AI will enable better content creation, transmission, broadcasting, distribution and monetization models, bringing about an era of high-quality content consumption."
In recent years, technological breakthroughs in AI have been gradually transformed into industrial applications. Driven by technological innovation, iQIYI will continue to invest in and explore the research and application of new technologies. Since the beginning of this year, 60% of the 800 patent applications submitted by iQIYI have been related to AI. So far, AI has been applied in all segments of iQIYI's business, driving innovation in the whole entertainment ecosystem, from content creation, distribution to improving both user experience and meeting advertisers' needs. For example, as a pioneer of interactive video in China, iQIYI has launched the world's first Interactive Video Guideline and applied interactive video standards to a diversified range of content including films and television, variety shows, advertisements and trailers, creating brand new entertainment experience for users.
"The arrival of the 5G era will lead to upgrades in communication infrastructure. With high bandwidth, low latency, and ubiquitous connectivity, new opportunities will be created for the video streaming industry and enhance the quality, production and innovation of videos," said Wang. 5G technology will further enhance the cloud and remote cooperation abilities, giving rise to upgrades in content collection and editing patterns. In addition, improved transmission efficiency and broader connectivity will allow new forms of video consumption to emerge, enabling users to have a faster, more personalized and immersed consumption experience of high-definition content. iQIYI has been continuously enriching its technology in the field of 5G, and has for the first time deployed cloud-based technology that enables end-to-end streaming, providing users with livestreaming and VR content of lower latency. Currently, iQIYI has formed partnerships with the country's top three networks that hold 5G commercial licenses including China Unicom, China Telecom, and China Mobile. It has also successfully provided "5G+4K+VR" panoramic live broadcasting for the 2019 Beijing International Film Festival. Driven by a combination of technology and content innovation, by the end of the third quarter of 2019, the number of iQIYI's total subscribing members was 105.8 million, up 31% year on year.
iQIYI not only uses technology to empower its own entertainment content creation, but also deploys it to provide high-quality entertainment service for global users. Multiple iQIYI original productions, such as original drama series The Thunder and Hot Blooded Youth, as well as original variety show The Rap of China, were distributed globally. Recently, iQIYI formed a strategic partnership with Malaysia's leading media brand Astro to launch more localized operating and marketing campaigns based on Malaysia's market environment and user needs. At present, iQIYI provides global operation support to the iQIYI App through its middle-end system, supplying overseas users with a vast array of quality content. In addition, iQIYI has set up multiple overseas data centers and content distribution networks, utilizing deep learning to categorize content and match them with different market environments to ensure high-quality broadcasting experience.
About iQIYI, Inc.
iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing, online literature and e-commerce.
SOURCE iQIYI, Inc.
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