Iqiyi's CEO gongs yu commits to full AI strategy and non-centralized social media shift

At the iQiyi Creators Conference, CEO Gongs Yu emphasized the company's commitment to a full AI strategy, focusing on AI-powered real-time filming and AIGC long-form film production. Simultaneously, iQiyi is advancing its non-centralized social media transformation. These dual strategies aim to reduce content creation barriers, expand the creator base, and boost platform content vitality, creating a development cycle. Gongs Yu stated that there is no need to debate whether AI will replace humans, noting that 'AI will only replace those who do not use AI' is now cliché. He compared AI to historical inventions, highlighting its societal impact while acknowledging its role in liberating filmmakers from traditional constraints. Earlier this year, Gongs Yu had mentioned that iQiyi's response to AI-driven changes was decentralization, shifting from a model where a small group decided audience preferences to one where creators and user communities play a central role. He argued that AI would significantly lower content production costs and time, potentially increasing the number of creators and works by hundreds of times, making centralized decision-making obsolete. As a result, iQiyi must transition to a non-centralized model, fostering a community of creators and users. The platform will step back, allowing creators to upload content independently and monetize through membership and ads, while iQiyi will retain some top-tier content production. iQiyi reported a net loss of 288 million yuan in the second quarter of its 2026 fiscal year, a 115.02% increase compared to the previous year. Additionally, the company announced that 10 AIGC films are entering post-production, with Oscar-winning cinematographer James Wong providing guidance.