The stock of Baidu Inc (NASDAQ:BIDU) closed at $239.37 losing 8.15% in yesterday’s trading session. The search engine company is collaborating with car-hailing operator, Shouqi Limousine & Chauffeur, in a bid to develop driverless vehicles. Shouqi will be leveraging Baidu’s Map service whereas on the other hand it intends to help Baidu with the development of the high-precision maps for self-driving cars.

In a recent statement, Baidu expressed its commitment towards offering hardware and software to help the new vehicles navigate. Artificial intelligence is set to have a major role to play towards overall success.

The Chinese internet company is doing all within its means to reshape its business which basically revolves around AI and autonomous driving. This particular strategy has already started raising concerns among quite a large number of investors.

Shouqi Limousine & Chauffeur takes great pride in the fact that it has successfully been able to launch operations in more than 50 cities in China. Recently, Baidu went ahead to sign into an agreement with BAIC Group and the aim was to develop level 4 autonomous vehicles by 2021. It is eyeing mass production of autonomous buses and it understands that much will have to go into that in terms of resources and effort.

Remaining relevant in the market has become quite a challenge. That is compelling a lot of businesses to resort to different measures in order to remain vibrant.

The alliance between Baidu Inc and Shouqi means well for the two business gurus. Each of the parties has much to gain from the deal. Technology is sweeping across the world with impact and the world is approaching the age of the driverless cars which employ artificial intelligence.

Baidu’s spokesperson opined, “We have always been keen at monitoring market changes and all opportunities for growth. The changing times are calling for changes in terms of strategizing and we will not relent in our efforts to remain relevant in the world markets.”