TECH - 'China's Netflix' Wants To Woo Aging Population With AI Content After Turning Profitable | Benzinga
iQiyi Inc. (NASDAQ:IQ), often referred to as China’s Netflix, is adapting its strategy to cater to the country’s aging population. The company is also leveraging artificial intelligence (AI) to enhance its content production.
What Happened: iQiyi’s CEO and founder, Gong Yu, announced at the company’s annual conference on Tuesday that the platform is reorienting its focus towards older users, reported CNBC. Gong highlighted the challenges faced by older users, such as eyesight deterioration due to increased screen time.
He also pointed out that by 2033, a quarter of China’s population will be considered elderly, a figure that is expected to rise to a third by 2053. With the country’s aging population, iQiyi is looking to improve its content quality for children, as fewer children are being born in China.
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Additionally, iQiyi is integrating AI tools into its content production process. The company’s Chief Technology Officer, Liu Wenfeng, demonstrated the platform’s AI capabilities, which can quickly replicate multi-camera shots in a virtual ...