Baidu has reportedly invested 20 billion RMB ($2.9 billion) in research and development in recent years, with the majority of this money going to AI. Last year alone, Baidu allocated $200 million to AI and AR development through its Baidu Research arm, which includes dedicated research divisions the Big Data Lab, Silicon Valley Lab, Institute of Deep Learning, and the Augmented Reality Lab, which it launched in February.
After leading Pfizer through the frantic race to develop the first FDA-approved COVID-19 vaccine, CEO Albert Bourla has set his sights on a new, arguably more difficult moonshot. "We saved the world from Covid, now we'll save the world from cancer," Bourla told Fortune Editor-in-Chief Alyson Shontell, outlining the company's massive pivot toward oncology following the pandemic. This ambition is backed by a historic reallocation of capital.
Those points resonate in 2025. China has become an important player in research and development (R&D). Yet, most of the outside world has still not woken up to this fact. On 23 October, China's Communist Party announced that, for the next five years, it will focus on "high-quality development" with "innovation as the fundamental driving force". This will require, it says, "substantial improvements in scientific and technological self-reliance and strength" (see go.nature.com/4ahcvj8). Policymakers should take this statement seriously for three reasons.
The international category recognizes best workplaces for innovators based in regions beyond North America that have invested in human capital and innovation infrastructure in their home markets. Leveraging internal innovations and outside expertise, the climate fintech company created a tool to customize investment portfolios for businesses pursuing decarbonization. ESR, Shenzhen, China The real estate asset management company tripled the size of its R&D team last year to continue nurturing new ideas, such as its new MagSafe wireless mouse.
