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Beijing's AI tech luring global investors: Bloomberg

2018/08/17

Beijing-based AI companies see healthy outlook
The $100 billion SoftBank Vision Fund is seeking to buy more than one billion dollars' shares of SenseTime, a Beijing-based AI startup, according to a report by Bloomberg.
The report also claims that Megvii, another AI unicorn headquartered in Beijing, will finish a $600 million fundraising drive "within a few weeks".
Favor from foreign investors surged after SenseTime and Megvii showcased their world-leading facial recognition technologies to the global market.
Their independently-developed programs and solutions are performing well in many scenarios, especially when it comes to home security, payment verification and car-hailing services.
According to the latest updates, the two companies are already probing into the next generation of facial recognition systems which can identify a certain target through a series of photos or videos, meaning more revolutionary services and convenient applications are expected to hit the market in the foreseeable future.
Source: CNIPR



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