A relative's child studied Russian at a normal university and received a professional scholarship from the school, and his wish was to go to Moscow University for a doctoral study.
Once, my uncle and nephew were chatting, and he told me that in Chinese, there is only one word for "do"; in English, there are 4 tenses of "do, doing, did, done"; what about in Russian?
There are dozens of tenses.
Of course, this kind of small problem is not difficult for Starry Sky Jun, and he took out a translation machine of iFLYTEK and easily understood this large string of Russian in seconds.
The translation machine was then sent to a cousin who needed it even more.
A certain east shows that the evaluation volume of the translation machine is 5W+, the praise is overwhelming, simple calculation, the recent sales of a single product in the self-operated online mall have reached hundreds of millions of yuan.
Realistically speaking, at the beginning of the epidemic, Starry Sky Jun was very unoptimistic about this direction of iFLYTEK. Because travel abroad has almost come to a standstill, who would buy a translation machine?
In this world, there is a kind of misplaced competition, called dimensionality reduction strike.
When the translation machine for overseas travel became an education-oriented learning machine, the entire track quickly became clear, and in terms of foreign language education, iFLYTEK had almost no opponents at all.
Of course, the translation machine is only a point in the process of iFLYTEK's full blossoming, and the AI education market based on the same CORE AI technology has covered hundreds of millions of people.
The transformation from the G-end to the C-end is so rapid and enthusiastic, which is unexpected by the Starry Sky King.
First, a great enterprise must be To C
iFLYTEK's ancestral craftsmanship is a G-end business. It is mainly aimed at government agencies, especially the procuratorate and education departments. This kind of business is stable and reliable, the profits are considerable, and many companies in the A-share listed companies have lost their dreams early because they rely too much on this kind of drought and flood protection business.
For example, after a listed company produced special invoice paper and lay down to make money for more than ten years, overnight, the company was crushed by electronic invoices.
However, iFLYTEK is engaged in G-end business technology content is not low. Trial records, smart classrooms and other fields cannot tolerate any mistakes.
According to the 2021 annual report, the company achieved operating income of more than 18.3 billion yuan for the whole year, an increase of 40.61% year-on-year, a net profit attributable to shareholders of listed companies of 1.556 billion yuan, an increase of 14.13% year-on-year, and a net profit of 979 million yuan after deducting non-recurring gains and losses, an increase of 27.54% year-on-year.
Source: Flush iFind, Cartography: Poetry and Starry Sky
Among all the A-share listed companies, iFLYTEK is the only listed company with an annual revenue growth rate of more than 25% for 10 consecutive years in the past 10 years.
The company specifically mentioned in its annual report that the number of personnel will increase by 3,301 in 2021.
On the one hand, this is in response to the previous anecdotal rumors about iFLYTEK's layoffs, after all, the recent rumors of layoffs in large factories have occurred one after another, and high-tech enterprises with human growth are very rare; on the other hand, the increase in revenue shows that the company has entered a new high-growth stage and successfully completed the transition period of the "second curve".
The company's first curve is the traditional G-end business, which mainly serves various government agencies; while the company's second curve is mainly based on C-end businesses such as learning machines, intelligent office books, voice recorders, and iFLYTEK hearing APP.
At first glance, it seems that the company's C-end business has begun to grow explosively in the past two years, and the diversification transformation has found the right direction. In fact, the AI technology that iFLYTEK has been adhering to for many years has accumulated and has reached the season of return.
In the field of smart education, the company has been deeply engaged for more than ten years, even when various education platforms rely on financing to burn money, iFLYTEK's smart education is still based on the school as the carrier, and even gives people a sense of "inopportune" clumsiness. Until the implementation of the double reduction policy, we found that the real "teaching according to aptitude" for students can build a solid foundation, and finally began to gain the trust of parents, teachers and students and education regulators. The iFLYTEK learning machine, which is the same origin as the regional "teaching according to aptitude" technology for schools, has also gained more market opportunities and consumer recognition in the current environment.
The translation machine mentioned above was given to the eldest nephew to learn Russian, and it is said that iFLYTEK translation pen and translation machine are made by the same technical team, the technology is of the same origin, and constantly open up opportunities for consumers.
Consumer business field, at first glance is a new product, but careful analysis, office books, voice recorders and other products are derived from the B-end business and software technology accumulation, is the iFLYTEK input method, iFLYTEK hearing and the previous court, procuratorate ai record technology used in civilian terminal equipment, in the daily office, learning, life, the emergence of these products, greatly improved efficiency, and expensive Europe, America, Japan and South Korea similar products, AI technology brought by the unexpected experience far ahead, thus forming a good reputation.
The new road from the G-end to the C-end has opened a new journey to greatness.
Second, the base business of "standing on top of the sky"
In the annual report, the company proposed a concept called "base business", and about 50% of the annual revenue came from this business.
What is a base business?
With the standard of "visible and tangible application cases, large-scale promotion, and statistical data to prove the effectiveness of application", we are committed to using artificial intelligence to solve major propositions in social development, and the application demonstration and verification of key tracks continue to appear, and a "strategic base area" for sustainable development has been built.
Simply put, it is a scientific research result that can take root and sprout and produce benefits.
In 2021, the company invested 2.936 billion yuan in research and development. Huge investment has brought fruitful results, the company in recent years to get countless patents, development projects, as a national AI research institution, iFLYTEK in the annual report listed thousands of words of research and development results, Starry Sky Jun will not repeat.
Undoubtedly, the company's core technology is AI, especially voice AI, the so-called base business, is based on the company's core research and development results extended out of the business.
How to smoothly convert the R&D results of the G-end (B-end) into C-end sales, iFLYTEK has taught a good lesson to many enterprises: R&D is king, standing tall in the sky. Technology continues to break through barriers more solid, C-end can have more advantages. It is said that some manufacturers of learning machines have not been able to break through because of the difficulties of public recognition and other technologies, and they cannot catch up with iFLYTEK in mathematics education.
Third, the unlimited space of the open platform
With the rapid iteration of AI technology, the strength of an enterprise is limited after all, how to use iFLYTEK's research and development results to quickly land industrial applications?
Smart iFLYTEK launched a developer platform.
It's a new and imaginative track, and Apple will pay $60 billion to developers in 2021, and Apple's app store will have annual sales of almost $780 billion.
How much space does the iFLYTEK developer platform have?
In 2021, iFLYTEK's open platform-related businesses accounted for 16% of revenue, opened 449 AI capabilities and solutions to the outside world, gathered 2.93 million developers, and focused on empowering 18 industry fields such as finance, agriculture, and energy, providing the industry with a wealth of intelligent voice and artificial intelligence capabilities and solutions. This revenue rose 55.55% last year. With the advancement of the open platform 2.0 strategy, the future may be more likely.
Open up their core technology to develop together, only enterprises with unfathomable strength can do, and at the same time, they must have both boldness and pattern.