Baidu Inc, one of the biggest Chinese technology companies, reportedly experienced a 48% decline in profit, a figure worse than anticipated. According to a report in Bloomberg, this drop underscores the mounting expenses associated with training and developing artificial intelligence (AI) systems to fend off competitors in the rapidly growing AI field.In the last quarter of 2023, Baidu reported a net income of 2.6 billion yuan (equivalent to $361 million). While these projections missed, a significant portion of the shortfall resulted from equity accounting for preferred shares. Despite this setback, Baidu managed to achieve a 6% increase in revenue. The…