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Baidu Unveils iRAG and No-Code Tool Miaoda to Drive AI Application Boom

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–       The new iRAG technology mitigates hallucinations in image generation, boosting the applicability of AI-generated images.
–       Miaoda is a no-code tool that enables users to build applications using simple natural language.
–       ERNIE now handles 1.5 billion daily API calls, marking an exceptional 30-fold growth over the previous year.

SHANGHAI, Nov. 12, 2024 /PRNewswire/ — Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888), a leading AI company with strong Internet foundation, today hosted its annual flagship technology conference Baidu World 2024 in Shanghai. At the event, the company announced a range of new AI technologies and solutions to accelerate the boom of AI applications, featuring iRAG (Image-Based Retrieval-Augmented Generation), a new technology designed to tackle hallucinations in image generation, and Miaoda, a no-code tool that empowers businesses and individuals to create applications.

The launch comes amid surging demand for Baidu’s AI offerings, as evidenced by the ERNIE foundation model’s daily API calls reaching 1.5 billion by early November. This represents a substantial 30-fold increase from the 50 million announced a year ago.

“The growth rate exceeded my expectations,” said Robin Li, Co-founder, Chairman, and CEO of Baidu, who described the steep increase as a reflection of the explosive growth in generative AI applications in China over the past two years.

Looking ahead, Li emphasized that agents will serve as the predominant form of AI applications and are approaching a tipping point of explosive growth. Underscoring this point, Li introduced the Top 100 Agents and Top 100 Industry Applications on the ERNIE AgentBuilder platform.

Baidu World 2024 also highlighted the latest user growth for ERNIE Bot, ERNIE’s expanding role in enterprise applications, and featured the debut of Xiaodu AI Glasses by Xiaodu Technology.

New iRAG Technology to Mitigate Hallucinations in Image Generation

Hallucinations, a phenomenon in which AI generates false or misleading information, have remained one of the most intractable barriers to the widespread adoption of generative AI. In text generation, RAG technology has largely resolved the problem of hallucinations, greatly enhancing the accuracy of generated answers. However, in the field of multimodality, hallucinations remain a key obstacle, often manifesting as inaccurate depictions of people or landmarks.

Baidu’s newly launched iRAG technology can mitigate hallucinations in text-to-image generation. Leveraging Baidu Search’s vast collection of hundreds of millions of images and the company’s strong foundation model capabilities, the new technology enables text-to-image models to deliver hyper-realistic visuals while also significantly reducing the cost of image production. The ability of the iRAG to reduce hallucinations boosts the applicability of images generated by text-to-image models across visual mediums, including comics, storyboards, posters, among others. Li described the reduction of hallucinations as laying the groundwork for the coming boom in AI applications.

Miaoda: Building Applications with Natural Language

Baidu also unveiled Miaoda, a no-code tool that makes it possible to build entire applications simply by describing them in natural language. Miaoda provides no-code programming, multi-agent collaboration, and multi-tool invocation. No-code programming allows anyone to generate code without writing a single line, lowering barriers to AI development and making it accessible to all. Its multi-agent collaboration leverages ERNIE’s thinking and planning capabilities to coordinate and manage different agents effectively, while its multi-tool invocation taps into ERNIE’s tool invocation abilities, extensively utilizing web search, iRAG, maps API, and other tools for a seamless workflow.

“Baidu isn’t aiming to launch a ‘super app’; instead, we aim to help more people and businesses create millions of ‘super useful’ applications,” Li said.

Mirroring the real-world product development process, Miaoda draws on the abilities of different agents across multiple domains such as project management and planning, content editing, programming and quality control. Miaoda can even automatically identify bugs and use a range of tools. Li called it “the most complex application case of multi-agent collaboration to date”.

Miaoda empowers everyone with the capabilities of a programmer – anyone who can speak, can create applications, greatly enhancing human productivity.

Agents as the Next Frontier in AI Application 

“Today, while all leading global tech firms are paying attention to agents, few have made them as central to their strategy as Baidu has,” Li said at the event. He likened the potential of agents to websites in the PC era and social media accounts in the mobile age.

“Agents are more human-like, more intelligent, and act like your sales, customer service representatives, or assistants. Agents will become a new vehicle for content, information and services,” Li added.

Four types of agents – company, character, tool, and industry – were highlighted at the event to demonstrate the potential of agents in the AI era. Company agents, for example, differ from traditional websites that only show static company and product information, and can instead proactively recommend products based on customer needs and respond promptly to service requests, greatly improving the efficiency of interactive marketing. After deploying an agent powered by ERNIE, automaker BYD saw a 119% increase in lead conversion.

Li also offered the example of the tool agent Free Canvas, developed in collaboration between Baidu Wenku and Baidu Drive. It allows users to drag and drop documents, audio, video, and other materials onto a canvas-like interface to quickly generate multimodal content. Similarly, the industry agent Faxingbao was specifically developed for the legal field. It has answered over 16.6 million legal questions and can also calculate compensation, draft legal documents, and recommend suitable lawyers.

To date, Baidu’s ERNIE AgentBuilder has garnered the interest of 150,000 businesses and 800,000 developers. The top 100 agents encompass character-based agents like the “Farmer Academician”, as well as agents for tools, industries, workplace, emotions, and entertainment.

Expanding ERNIE’s Reach with Growing Developer Community, Enterprise Applications and AI Glasses

Haifeng Wang, Chief Technology Officer of Baidu, announced that ERNIE Bot has amassed 430 million users, while the PaddlePaddle deep learning platform and ERNIE have a total of 18.08 million developers. Wang also mentioned that the ERNIE foundation model is still in training, with an even more powerful version worth looking forward to.

Dou Shen, Executive Vice President of Baidu and President of Baidu AI Cloud Group, highlighted that the Qianfan platform has helped customers fine-tune 33,000 models, and develop 770,000 enterprise applications. Shen noted that the explosion in new AI applications has begun on the enterprise front, supported by a new AI infrastructure comprising an enterprise-level foundation model engineering platform and a heterogeneous computing platform, poised to replace traditional cloud computing.

Ying Li, CEO of Xiaodu Technology, introduced Xiaodu AI Glasses, the first native AI glasses powered by a Chinese language foundation model. Powered by ERNIE and equipped with visual, audio, and location-based capabilities, these smart glasses serve as a versatile AI assistant across everyday scenarios. They function as a personal tour guide, offer information via Baidu Maps and Search, and excel in instant translation and content summarization from photos. Ideal for both academics and casual readers, they also assist with intelligent note-taking and can personalize music to enhance the user’s surroundings. Li revealed that Xiaodu AI Glasses will be available for sale in the first half of 2025.

About Baidu

Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong internet foundation, trading on the NASDAQ under “BIDU” and HKEX under “9888.” One Baidu ADS represents eight Class A ordinary shares.

Media Contact
intlcomm@baidu.com

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SOURCE Baidu, Inc.

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AMETEK Declares Quarterly Dividend

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BERWYN, Pa., Nov. 6, 2026 /PRNewswire/ — The Board of Directors of AMETEK, Inc. (NYSE: AME) declared a regular quarterly dividend of $0.34 per share for the fourth quarter ending December 31, 2026.

This fourth quarter dividend is payable December 18, 2026 to shareholders of record as of December 4, 2026.

Corporate Profile:
AMETEK (NYSE: AME) is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annualized sales of approximately $9.0 billion. The AMETEK Growth Model integrates the Four Growth Strategies – Operational Excellence, Technology Innovation, Global and Market Expansion, and Strategic Acquisitions – with a disciplined focus on cash generation and capital deployment. AMETEK’s objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. Founded in 1930, AMETEK has been listed on the NYSE for over 95 years and is a component of the S&P 500. For more information, visit www.ametek.com.

Contact:
Kevin Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610.889.5247 

View original content:https://www.prnewswire.com/news-releases/ametek-declares-quarterly-dividend-302931168.html

SOURCE AMETEK, Inc.

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EchoPark Automotive Teams Up with Owen Wilson for Its Largest Campaign

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Campaign launches Nov. 8 during NFL broadcasts, bringing “Every Car, Happy Owner” to more shoppers

CHARLOTTE, N.C., Nov. 6, 2026 /PRNewswire/ — EchoPark Automotive is teaming up with Owen Wilson as its new spokesperson for the largest single-brand marketing investment in its history, launching Nov. 8 during Sunday NFL broadcasts in EchoPark markets.

The campaign follows Wilson through the familiar frustrations of buying and selling a car before he discovers EchoPark’s approach: quality vehicles, compelling value, and a happier experience. New store advertising features Wilson celebrating grand openings with a confetti cannon, bringing the brand’s “Every Car, Happy Owner” promise to new communities.

“The idea of getting a good car at a fair price hits me right here,” said Wilson, pointing to his heart. “I’ve definitely found the car-buying experience stressful in the past. EchoPark is about great cars, at great prices, sold by really great people. So, I’m excited and revved up to bring this campaign to life.”

Every EchoPark vehicle undergoes a 190-point inspection, more inspection points than leading national competitors. Vehicles are typically priced up to $3,000 below the competition, while offers to purchase guests’ cars can be up to $2,000 higher than competing offers.

Ninety-three percent of EchoPark’s customer reviews are five-star, the highest proportion of any national vehicle retailer. That record supports the brand’s promise of the Best Car Buying Experience in America. Each guest works with a dedicated Experience Guide throughout the purchase, with clear vehicle pricing and no haggling.

“We have built a brand that delivers outstanding cars, exceptional value, and an experience our guests overwhelmingly recommend,” said David B. Smith, Chairman and Chief Executive Officer of Sonic Automotive, EchoPark’s parent company. “Now we need more people to know what they’re missing.”

EchoPark’s research shows only about 15% of shoppers know the brand. After learning about its quality, value, and guest experience, shoppers show a 14X increase in consideration, putting EchoPark among the top retail brands they would choose for their next vehicle purchase. Research involving more than 2,000 in-market consumers also found positive responses to EchoPark’s message, offering, and Wilson as spokesperson.

“Owen gives more people a reason to discover EchoPark. Our job is to make sure they’re glad they did,” said Jeff Dyke, President of Sonic Automotive. “That means a great car, a fair price, and teammates who make buying easier. That’s how we deliver on ‘Every Car, Happy Owner.'”

The campaign spans television, streaming, online video, social media, digital display, streaming audio and outdoor advertising, including YouTube, Amazon streaming platforms, paid social and billboards in participating markets. It connects shoppers with EchoPark’s inventory and vehicle offers through its website, new mobile app and local stores.

Watch the inflatable salesmen and confetti cannon spots, plus the behind-the-scenes video here.

A new app and a new market

EchoPark’s new mobile app brings another way to shop. Its Car Spotter visual search feature lets users photograph a vehicle and find similar options among EchoPark’s inventory of over 5,000 vehicles. A service locator connects owners with nearby Sonic Automotive-owned dealerships for service. The app is available through Apple’s App Store and Google Play.

EchoPark will enter Orlando this December, its 15th market, bringing its quality, value, and guest experience to Central Florida. The brand currently serves Atlanta, Birmingham, Charlotte, Colorado Springs, Dallas, Denver, Houston, Las Vegas, Nashville, Phoenix, Raleigh, Sacramento, San Antonio and St. Louis, with two locations each in Denver, Houston and San Antonio.

Watch the campaign on EchoPark’s YouTube and social channels. To find your next car or get an offer for your current vehicle, visit EchoPark.com.

About EchoPark Automotive

EchoPark Automotive, a subsidiary of Sonic Automotive, Inc. (NYSE: SAH), offers high-quality pre-owned vehicles through a guest experience built around compelling value and personal service. Learn more at EchoPark.com.

About Sonic Automotive

For more than 60 years, Sonic Automotive has pursued a purpose of fulfilling dreams, enriching lives and delivering happiness for guests and teammates. Founded in 1966 by Bruton Smith, the Fortune 300 company is led by Chairman and CEO David B. Smith.

More than 11,000 teammates serve guests across 174 automotive and powersports franchises in 146 locations, 90 cities and 20 states, representing 24 automotive and 15 powersports brands. The company has helped more than 7 million guests purchase vehicles, delivered over 40 million service experiences and earned more than 1 million 5-star reviews.

Sonic Automotive was the only automotive and powersports retailer recognized by Newsweek as one of America’s Most Trustworthy Companies in 2026. Its mission is to innovate, lead with integrity and create exceptional experiences that inspire confidence, build lifelong relationships and positively impact every life it touches.

Sonic Automotive. Driven By People. Inspired By Purpose. Learn more at www.sonicautomotive.com and ir.sonicautomotive.com.

Press inquiries
Sonic Automotive Media Relations
media.relations@sonicautomotive.com

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SOURCE Sonic Automotive

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FIRST BANK EXPANDS CHARLOTTE PRESENCE WITH NEW SOUTHPARK BRANCH AND OFFICE

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Strategic investment strengthens First Bank’s presence and supports growth in the Charlotte market

CHARLOTTE, N.C., Nov. 6, 2026 /PRNewswire/ — First Bank, a subsidiary of First Bancorp (NASDAQ: FBNC), announced the opening of its new SouthPark branch and office, marking an important milestone for the bank and a significant investment in its continued growth in Charlotte.

“Charlotte has been an important part of First Bank’s growth, and our investment in SouthPark reflects our long-term commitment to this market,” said Adam Currie, CEO of First Bank. “We’ve assembled an exceptional team here and built strong relationships with the clients and communities we serve. This new location gives our team greater resources to serve our clients, pursue new opportunities and strengthen our position in the market.”

That momentum is backed by strong financial performance and national recognition. In 2026, First Bank was named to Forbes’ inaugural list of the World’s Top Performing Banks, which evaluates financial institutions using objective measures including profitability, growth and earnings quality, capital and funding resilience, and asset quality and efficiency. Earlier in the year, First Bank was ranked No. 14 among U.S. public banks with more than $10 billion in assets by S&P Global Market Intelligence, based on 2025 financial performance across measures of growth, profitability, safety and soundness.

“SouthPark represents an exciting next step for our team and the clients we serve,” said Andrew Griffin, SVP, Regional Executive for Charlotte. “We bring deep experience in this market and a commitment to understanding each client’s needs and delivering the right solutions. This new space allows us to elevate that experience while continuing to build lasting relationships across the region.”

The SouthPark location will offer a comprehensive range of financial services, including commercial and business banking, personal banking, lending and wealth management solutions. The expanded office space will also support First Bank associates serving clients across the Charlotte market. SouthPark reflects the continued evolution of First Bank, pairing a strong regional presence with the people, expertise and resources to serve a growing market well into the future.

About First Bank
First Bank is the banking subsidiary of First Bancorp and is headquartered in Southern Pines, North Carolina, with total assets of approximately $13.2 billion. As a state-chartered community-focused bank, First Bank operates 113 bank branches in North Carolina and South Carolina. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions and helpful local expertise to help customers achieve their dreams. First Bancorp’s common stock is traded on the NASDAQ Global Select Market under the symbol “FBNC.” Visit www.LocalFirstBank.com to learn more. Member FDIC, Equal Housing Lender.

View original content to download multimedia:https://www.prnewswire.com/news-releases/first-bank-expands-charlotte-presence-with-new-southpark-branch-and-office-302930958.html

SOURCE First Bank

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