Chinese tech giant Baidu (BIDU) is set to launch AI-powered smart glasses at its annual Baidu World event in Shanghai next week. The move will position Baidu as a direct competitor to Meta’s Ray-Ban smart glasses, which have gained significant popularity.
Powered by Baidu’s AI model, Ernie, the smart glasses will enable voice interactions, real-time translation, visual search, and navigation assistance. In addition, the glasses will feature built-in cameras to capture photos and videos. The company plans to commence sales early next year.
Baidu Targets AI Market
Interestingly, the launch of Baidu’s smart glasses comes as Meta gains traction with its Ray-Ban smart glasses. It is worth mentioning that last month, Meta updated its RayBan smart glasses with new features, including a memory function and the ability to scan QR codes or send voice messages via WhatsApp and Messenger.
In response, Baidu plans to offer its smart glasses at a lower price than Meta’s Ray-Bans, which could serve as a strong incentive. However, only time will tell if Baidu’s offering can effectively compete with Meta’s and establish the company as a strong contender in the AI space.
What Is the Future of BIDU Stock?
Turning to Wall Street, BIDU stock has a Strong Buy consensus rating based on 10 Buys and three Holds assigned in the last three months. At $126.35, the average Baidu price target implies a 35.1% upside potential. Shares of the company have declined 14.7% in the past six months.
