00:00A lot of economies are dealing with this right now, the haves and have-nots of AI,
00:04where it really is kind of dividing the winners and losers and the distribution of wealth.
00:10How does Hong Kong, as a financial secretary, how do you deal with this kind of K-shaped economy?
00:16Well, AI training for all. This is something we have to embrace.
00:22We need to learn it. We need to understand it, use it, and use it well.
00:27Then you will find this is so useful and helpful and make life even more wonderful,
00:35because you will have more time not to do the repetitive work,
00:39but for you to think and for you to find new opportunities.
00:44How are you using AI now? I wonder.
00:48This is a great question.
00:49As a financial secretary, how do you incorporate AI in your work?
00:52I believe the information I gave you, some are from AI.
00:57Why don't we talk about the global supply chain, right?
01:00All the companies have been saying that they're under pressure because of component shortage,
01:05and memory shortage is going to last all through 2027.
01:12Are you going to keep raising prices, or are you going to sustain the prices so that it stays attractive
01:18for hyperscalers and for the PC offerings?
01:20Yeah, what's underpinning the shortage today, and the shortage is not just in terms of components, right?
01:27I think it's the great demand.
01:29The AI infrastructure build is probably the greatest infrastructure build in the history of mankind, right?
01:35From the industrial revolution to the internet era, as we're building, and I think we're really seeing a repeat of
01:42that.
01:42And we haven't seen that in terms of this type of acceleration in the dollar spent.
01:47And you're seeing that in equity markets today.
01:49Companies raising money, and the dollars that they're raising is going to go back into AI infrastructure build.
01:55A lot of that will be going towards today's area.
01:58So I think the prices of components will continue probably to stay elevated.
02:04But I think at this point, because there's demand driven, you know, I think that economic, as you say, in
02:10terms of that, the healthy margin should be able to sustain.
02:13We know the competition for the top engineers is so intense right now.
02:18And in the US, we see these headlines where engineers are treated like sports stars.
02:23You know, they're being traded for millions of dollars or whatever.
02:27What is Baidu's pitch to top talent?
02:30Like, if you're trying to attract someone to the company, what is it you say to them that makes them
02:35want to work for Baidu versus another top tech firm?
02:38Yeah, it's a great question.
02:40So let's bring a different perspective.
02:43I think, you know, we are a technology company.
02:46Previously, I think the priority is we empower our clients to be more intelligent.
02:51We give them more technology tools to help them to remove a move from the, you know, the traditional IT
02:57to the cloud environment, you know, such as that.
03:00But right now, I think AI, especially for the big corporation like us, also changes us as well.
03:07We need to think about the cultural change, organization change, not only as an organization and a company, but also
03:14how AI empower ourselves.
03:17So it's actually equally important to do something for clients versus think about the new tools affecting ourselves.
03:22So Tracy is right.
03:24I think there are a few things we actually make a lot of different thinkings and some of the new
03:28initiatives.
03:29First of all, we're probably among a few companies in China still very open and even increasing the campus recruiting.
03:36And the focus on the younger talents.
03:39And number two, recently, we also tasked the senior people not only look at, you know, the current reporting structure,
03:46but also in the real mentor relationship with the younger growing piece of the human capital in a company.
03:53But more importantly, I think, is really about giving people more autonomy to work in a company.
03:59So more trust and more autonomy and give them more real work.
04:04And, you know, there's one concept called a one-person company, right?
04:07So we are very happy to working with one-person company because they actually use our AI tool very nicely
04:12and they're willing to pay a lot of revenue to our products given the quality.
04:16However, within the company, we also encourage people to be the one-person team
04:22so they can actually use the agents to work on a lot of internal tasks.
04:26and that's the only one-person teams and that's the one-person teams.
04:26So we can honestly say, if you know, this is a company that's kind of a very common space for
04:26me,
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