On March 20, during Kuaishou’s earnings call, CEO and founder Cheng Yixiao revealed the company’s progress in the field of generative AI. Cheng stated that since initiating the AI strategy last year, the company has steadily advanced the development and training of its large proprietary models.
Cheng boldly claimed that he is confident that within the next six months, the comprehensive performance of the large model will reach the level of GPT-4.0. He also stated that the comprehensive performance of Kuaishou’s large model “Kolors” has surpassed the level of Midjourney V5.
Regarding the currently popular field of video generation, Cheng revealed that the company started dedicated research and development at the end of last year. “This is a huge opportunity for the short video ecosystem. In the future, Kuaishou will combine generative models with producer tools to continually help creators lower the threshold of creation and improve the quality and efficiency of short video production.”
According to previous reports from IT House, Kuaishou launched the large language model KwaiYii and the large model Kolors in the second half of last year. The 13B version of KwaiYii, KwaiYii-13B, ranked first in both the five-shot and zero-shot categories in August last year, showing strength in humanities, China-specific topics, and other areas, with an average score exceeding 61 points. The Kolors large model can generate various types of artwork based on open text and is said to have strong text understanding, rich detail depiction, and diverse style transformations.
Kuaishou released its Q4 and annual earnings for 2023 today. Kuaishou’s total revenue for the full year of 2023 reached CNY 1134.7 billion, a year-on-year increase of 20.5%. Online marketing services, live streaming, and other services (including e-commerce) contributed 53.1%, 34.4%, and 12.5% to the annual revenue, respectively.
Kuaishou’s adjusted net profit and in-period profit for the entire year both turned from loss to profit, greatly surpassing market expectations. In particular, the adjusted net profit exceeded CNY 10 billion for the first time, reaching CNY 10.27 billion.
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